Posted on 07/10/2026 4:40:31 AM PDT by Libloather
The AI industry is growing at a fierce pace, but so is skepticism about where it will lead, with some worried about data centers sucking up power and jobs being replaced with computers.
Capitalizing on those fears, socialist wacko Bernie Sanders has proposed the “American AI Sovereign Wealth Fund Act” — which has grabbed headlines for claiming it will raise $7 billion and distribute thousands of dollars to every American.
It’s a pie-in-the sky scheme, doomed from the start. Not least because it would force all major AI companies to hand 50% of their equity over to the federal government! Savvy Silicon Valley bosses have wasted no time in finding clever ways around it.
Earlier this week, investors and the CEO of Altimeter Capital, Brad Gerstner, floated an alternative. They propose key players in AI voluntarily giving up a much smaller stake in their companies, which the federal government could then distribute to the people.
In an interview on CNBC this week, Gerstner even said he’s already spoken with the top players: xAI’s Elon Musk, OpenAI’s Sam Altman and Anthropic’s Dario Amodei (although he didn’t reveal what they’d told him about participating).
The proposal is being sold as a capitalist response to a socialist solution, but still sets alarm bells ringing. Sensible people don’t feel the federal government should play a larger role in distributing wealth than they already do, an amount in the trillions each year — something Trump’s second term has been all about reigning in — and that’s before even thinking about how many billions are lost to fraud.
(Excerpt) Read more at nypost.com ...
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Smells like money that has already been spent in minds.
We are all doomed. AI is going to be Skynet and HAL combined.
“distribute thousands of dollars to every American.”
Like most everything else Congress passes, take from the haves and redistribute it to the have-nots.
‘Cheap’ labor can be expensive.
“All government, in its essence, is a conspiracy against the superior man: its one permanent object is to oppress him and cripple him. If it be aristocratic in organization, then it seeks to protect the man who is superior only in law against the man who is superior in fact; if it be democratic, then it seeks to protect the man who is inferior in every way against both. One of its primary functions is to regiment men by force, to make them as much alike as possible and as dependent upon one another as possible”
https://www.goodreads.com/author/quotes/7805.H_L_Mencken
A lot of that money is just air.
There’s been talk in the financial news about a dot com like bubble in AI stocks.
Sure there’s the next Google or Amazon in there but also a lot of pets.com.
Why is anyone involving the federal government in taking equity and handing it out to anyone? Has anyone learned that the federal government is corrupt? Any time it gets its hands on anything, it uses it for the gain of politicians, bureaucrats and politically-connected NGO executives? Keey government the F out of any scheme to take private wealth and transfer it to “the people.” That’s how we ended up in the debt, fraud and spending disaster that we are in today.
...socialist wacko Bernie Sanders has proposed [stealing] $7 billion and distribute thousands of dollars to every American... Sensible people don't feel the federal government should play a larger role in distributing wealth than they already do, an amount in the trillions each year...
Socialists are confederate ideologues with the CCP and want to use their same tyrannical digital control mechanism in the near future.
Socialists = Moron Communists. Or else just lying Communists, potato, potahto.
CCP greatly desires the USA to cease and desist any and all data center buildouts. Even providing money for the socialists to protest new construction. Where we should leave it only for the CCP to advance this anti-Christ technology over the entire Earth. They are happy to take the lead over the USA in advancing this effort.
Unfortunately for the USA, the only winning move IS to play.
That's entire point. They aren't doing all this to get more human workers. You can't make this stuff up.
The Federal government is going all in to help create this dynamic. Keep voting for people who want to replace you. This is the same dynamic of supporting globalization in the 90's and the free trade cult. Good luck out there!
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