Why is government seizing data centers a good thing?
replyIf you work through the scenarios, we're going to end up enacting heavy protectionism and stimulus on US AI companies to keep the economy from imploding. We could do this with stock in AI companies (like Bernie is pushing), but if the government pays for that stock it becomes a dump target paying out to oligarchs and the AI companies become "too big to fail." If the government owns the data centers, the people profit even if AI underperforms.
replySo we want to own the business, but because we don’t like the counter party we want to forcibly seize it rather than buying it?
replyFirst off, there's a fiscal hole that has to come from somewhere. If it doesn't come from AI oligarchs, it's going to come from the rich at large, or the working class. Real talk, if it comes from the working class, we're 100% going to have a revolution, life is getting unsustainable for a large swathe of normal Americans already. If working class folks feel they're getting bent over for oligarchs now, they'll steal and destroy to make the cost up.
replySecond, these companies have looted America by hiding income in Panama/Ireland/etc when they've earned it on the back of American protection, American consumers, etc. It would be generous of the US government to offer corporate wealth repatriation and a token payment as part of deprivatization.
> there's a fiscal hole that has to come from somewhere.
replyWhy? If new technology is invented that enables us to do new things with fewer resources doesn’t that create wealth? It didn’t take it, it made a new thing.
You should do the math on how much AI would have to create in order to fill the hole. Spoiler: we'd need nearly the best case scenarios for AI driven global GDP growth predicted by the most bullish firms, we'd need to regress to pre-Reagan corporate tax rates AND the AI companies would need to suddenly grow a conscious and stop their tax avoiding ways.
replyI still don’t know what “hole”
Mean in this context.
replyMy previous attempt was to consider it as a cost for AI companies to exist?
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replyHow about because they used tax payer money to help fund them? Why should my money make AI executives & shareholders richer? And let them own the products of my tax?
replyedit: We used to call that Fraud.
I agree governments shouldn’t throw money in these. That didn’t answer my question of why we want to seize them.
reply> because they used tax payer money to help fund them
Source showing a significant part of the investment was tax money?