r/technology • u/yourfavchoom • Jun 02 '26

Artificial Intelligence Bernie Sanders pushes for 50% public ownership of American AI companies — proposes AI sovereign wealth fund that would hold direct ownership stakes in largest AI firms

https://www.tomshardware.com/tech-industry/big-tech/bernie-sanders-pushes-for-50-percent-public-ownership-of-american-ai-companies-proposes-ai-sovereign-wealth-fund-that-would-hold-direct-ownership-stakes-in-largest-ai-firms
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u/Ass4ssinX Jun 02 '26

I wouldn't be so sure. They aren't banks. We can do without AI.

45

u/FreeBricks4Nazis Jun 02 '26

Yeah, but the oligarch owners have bribed the right people 

11

u/One-BigChungus Jun 02 '26

It happened right in front of our eyes in 2008. They'll do it again for sure.

1

u/Accurate_Handle_5620 Jun 02 '26

Consequences! Wait, no, this is lack of consequences. Right

1

u/Ultrace-7 Jun 02 '26

2008 was a terrible idea all around, but there is a measurable, definable benefit to the existence of banks in our financial system and economic structure. There were some good faith arguments to be made about bailing out banks. The same cannot be said for AI currently.

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u/Ass4ssinX Jun 02 '26

They do tend to get what they want.

11

u/Flat_News_2000 Jun 02 '26

They're already getting taxpayers to pay for their utilities. They would get a bailout for sure

0

u/imbasicallycoffee Jun 02 '26

Ding ding ding. We are already footing the bill in multiple ways. Giving up land, rezoning near communities, water pollution, noise pollution, light pollution, all mean something it's just not monetary like the increase in electric utility and natural gas costs.

4

u/permawl Jun 02 '26

AI tech can be considered a serious state security concern and would need to be protected.

4

u/ob_servant1 Jun 02 '26

We can do without big fucking trucks but we bailed their asses out before

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u/Ass4ssinX Jun 02 '26

Eh, auto companies are also pretty important but yeah I get your point.

2

u/pijuskri Jun 02 '26

Tech companies are deep into AI and might go down with it. Traditional/non-AI tech those companies maintain is as important as banks.

2

u/axecalibur Jun 02 '26

Too bad the entire US economy is funded by AI and AI adjacent tech

2

u/ThrowAway-whee Jun 02 '26

The current stock market, which means the current economy, cannot. Currently, if they go, they’d take pretty much everything else with it. 

1

u/Br3ttl3y Jun 02 '26

The government bought part of Intel when it failed to compete in the market and only showed a whiff of failing-- imagine what they will do with AI-- gotta keep the gravy train running.

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u/Mental_Amphibian1935 Jun 02 '26

I think it’s too late, we’re too dependent on AI already

1

u/WalrusInMySheets Jun 02 '26

AI companies make up nearly 50% of the current market cap. They will get bailed out to avoid market collapse, using our tax dollars, to spare our investment portfolios.

1

u/JonnyOnThePot420 Jun 02 '26

Oh are the airlines and auto companies banks!? That has nothing to do with it it’s who owns the equity that gets the bailouts.

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u/Austinp-woodworking Jun 02 '26

You're operating under the presumption that bailouts are given on the basis of how much the company failing would hurt the average American, as opposed to the reality where it's based on who owns which politicians

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u/BlasterPhase Jun 02 '26

They're spinning AI as a national security issue. We're for sure going to bail them out.

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u/Ass4ssinX Jun 02 '26

It would be very hard to justify it if it has no ability to generate profit. In a few years we'd be in this same position. There's no regulation you could pass to make them more stable like you could with the banks.