What “wealth”? They’re all losing money.
They’re losing borrowed money
They borrowed our real money from banks without us having any say in it, based on imaginary valuations of what someone would hypothetically spend for their mountain of shares based on the price the tiny slice for sale is worth…
A complete and utter disregard for supply side economics.
If any of them actually have to sell to pay back the loan, they go bankrupt and the bank can’t collect.
That makes every other bank individually panic and call all their loans in to try and get what they can.
Banks doing a run on banks. Then everyone’s going to try and pull their money out when banks starting going bust.
I’m just waiting for when they have to sell off all that depreciating silicone (SSD/HDD/RAM). Just hope they don’t throw it all in a landfill with the ET Atari carts out of spite.
Nope, that shit will flood the market, but it’s all been run hot for as long as possible, well, the stuff that actually went into data centers. Some of the shit that’s been “sold” hasn’t been made yet, because the data centers are still being built, on land that’s still being stolen through eminent domain.
Except, some of those data centers will be given over to government and corporate surveillance of, well, everyone. Surveillance that will then be used to enact violence on people. It already is.
High time we started taxing loans anyway to be honest.
RAM.
ALAMADINGDONG
Wanted to say that. They don’t have money and i’ll bet they never will have money, at least not anyone on the market today. In the future there might be hyperspecialized AI companies in market areas where they can raise the prices far enough to be cash flow positive on inference, but none of the current players will reach that point.
Why stop at the AI industry?
I was just thinking the same. Most of what’s bad about AI just leads back to the wealthy elite being greedy hoarders.
Yup. AI is just the logical conclusion of unregulated capitalism. When you can’t exploit the workers any further, you replace them with machines.
A majority of Americans discover the concept of taxation.
“Seizing” just means “not giving copius amounts of tax cuts” nowadays.
Oh that’s actually REALLY cool news. I should start reading the articles lmao.
No it’s not.
Public will be left holding the bag.
Those companies are bleeding money everywhere, as soon as it hits open market they will crash and burn.
Let the rich keep those ‘’‘‘assets’’‘’. It’s all stolen anyway.
The text doesn’t read buy, it reads transfer. Basically force all AI companies to issue one extra share per share currently held and handed over to the fund.
Assume they could be non voting shares, but have them be paid the same dividends as other shareholders
But I don’t get why this would be preferred to increasing capital tax or company taxes
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They get tax write offs from the government, as well as cities and states PAYING THEM to expand their empire.
They’re the biggest welfare queens.
I support seizing the health from billionaires.
itsa me, mario
I support seizing the wealth from more industries than just AI
The US has already started with Tiktok.
Trump is in fact our most communist president.
Trump is in fact our most communist president.
I think “nationalist” is the word you’re looking for.
The Nazis did the same shit, and despite the name, they were not socialist.
Yea and no?
I just know it’s being handled by Oracle, does any money go to the state?
Looking it up, Bytedance still gets half the profit from TikTok and the rest is distributed to Oracle, Silver Lake, and MGX, so, no, no profits are going into the US treasury.
And it’s also observed, capturing TikTok may just be the same move as the German Reich to turn media into a state-sanctioned mouthpiece. But I don’t know who determines the parameters of the TikTok algo.
I remember vaguely that algo was supposed to be in the hands of Oracle, otherwise it doesn’t make any sense.
What wealth? The AI industry is probably the most debt-laden venture in the entire history of currency, and has failed spectacularly and repeatedly to demonstrate any viable path to profitability. There’s no wealth to take, and there never will be.
Scrap the shit for parts then. I’ll take $5 and the death of AI data centers any day.
I want the billionaires involved to be disgraced and stripped of their ill-gotten gains as well. Id est, accountability and justice.
If not that, 🪟🔪⚜️ and seizure of the assets, placed in the national treasury and used to fund social programs.
Should probably just license them. They can pay for the license. $100 million/month, $1.19 billion if they get the whole year.
probably the most debt-laden venture in the entire history of currency
So our currency is working exactly as intended! :-P
I don’t think there is any wealth there, just undeserved trust that allows them to raise money through debt.
If you seize that, then the debtors will come calling for higher risk premium and the venture implodes - sooner than they otherwise would.
So maybe it is a good idea anyway.
“5 more years, bro. I know I know, just 5 MORE years bro and we’ll have AGI on the moon bro, no idea how to monetize it but just 5 additional years bro!”
How the heck does this keep generating cash flow? Are investors really this stupid?
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they have a bunch of assets. Doesn’t need to be cash
What wealth?
https://www.wheresyoured.at/the-openai-bubble/
They can’t do anything if they aren’t spending VC money. LLMs are the most money burning corporate misadventure of all time.
Why stop at AI?
Yeah, America needs a wealth tax desperately.
Too late guys, the majority doesn’t get to make decisions anymore
Never did.
Forgive the old internet phrase, but
inb4 “It was never meant to. We’re a Republic, not a direct democracy.”
A Republic implies that the elected officials endeavor to represent the will of the people. If you think that’s going on in America, you may need to schedule a trepanning procedure or something because some shit’s wrong with your brain.
Sure, but that’s like saying “communism definitely works, we just haven’t seen it done right yet” when it’s clear to outsiders that it’s meant to not work, in the exact way it’s not working, for the benefit of powerful elites as has been the purpose and product of nearly every human government to date. This whole “having a government” experiment is the longest running, most repeated, and frankly easiest scam mankind ever invented.
…I don’t think you know what “inb4” means because I feel like we’re making the same argument in a lot of ways.
but since we’re here anyway, I’m not an anarchist because a large, unorganized mass of well-intentioned people is easily wrecked by a smaller, organized mass of poorly-intentioned people. Creating an organized mass of well-intentioned people seems to be the ideal in that case. People are just flawed and we have to figure out how to work around that. We’re also still evolving (in this case, socially more than biologically, but that’s a really superior form of evolution in many cases). We’ve been living in societies of this scale for a very short period compared to our entire evolutionary history.
I wouldn’t really describe myself as a communist either, I haven’t read enough THEORY for that lol, but I think it’s more likely to work than anarchism. And we’re obviously watching capitalism fail for literally all life on Earth so that’s a foregone conclusion.
Organization is one thing. Hierarchy is another. Try doing the former without someone emerging to ensure the latter to their own benefit. I’m an anarchist, not an anorganist.
How do we organize millions-if-not-billions of people in a cooperative structure without having a system to it and recognizing that some people have skills that others do not? A really big, really lengthy conversation?
All we have to do is follow the same fractal scale as everything else that built up to us. Particles form molecules, DNA forms chromosomes, cells form organisms, organisms form social groups. We don’t all mash our bodies together to make one large human organism do we? Then why do we feel the need to do the same with our naturally small social bodies? Those bodies should instead be treated as cells of a body another step up the scale, and so on as needed.
Maybe electing people to have power over you isn’t really democracy? Like ever? Maybe democracy means you don’t need other people making decisions, but to work them the fuck out among yourselves?
Or maybe that’s the exact opposite of democracy, and by not voting blue no matter who I’m the worst kind of fascist. Who can say?
I think there are historians and such who have dedicated their lives to studying this shit that can say.
And they say you’re wrong.
You’re right. I was being ridiculous. VOTE BLUE NO MATTER WHO
Ah it looks like you’ve failed the “make an argument and attempt to defend it without strawmanning” challenge.
Sorry, better luck next time.
Straw men are a real thing that exists in the world. Sometimes, that’s what you’re dealing with.
If the RIAA could get millions from kids downloading songs on Napster, wouldn’t it be reasonable to expect that AI companies pay for the intellectual property that they have stolen from anyone who has ever posted anything on the internet?
Maybe AI companies can exist as long as they fund universal basic income.
Lol
I support seizing the wealth of all the wealthy.
Doesn’t this just ensure they’re all “too big to fail” and we use tax dollars to jeep them afloat forever?
See an extended version of this take from Bruce Schneier. (He’s also going to spend awhile arguing for a public option on AI; something using the technology in an open way, respecting IP, and distributing the benefits.)
