A tale of two AI capitalisms

Things might get rough

It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of Light, it was the season of Darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to Heaven, we were all going direct the other way—in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.

– Charles Dickens, A Tale of Two Cities—using an em dash over 150 years before the advent of ChatGPT

One theory of capitalism holds that every company should be left to their own devices, with state intervention kept a minimum. This view was well articulated just a few weeks ago, by White House AI and Crypto Czar and well-known podcaster, David O. Sacks:

The other theory of capitalism, if we can indeed call it that, holds that we should bailout important companies or industries that might overextend themselves. Quite the opposite from the above.

This latter theory, almost a form of safety-net socialism for overextended companies, seemed to be implied today, in a tweet that seemed to be laying the groundwork for bailout, by none other than… White House AI and Crypto Czar and well-known podcaster, David O. Sacks:

I can only guess at what happened in the intervening 18 days.

Stay strong, Early November David Sacks, stay strong. If OpenAI fails, Google can readily step in, no bailout required.