Exactly my thought. Socialism, Democratic Socialism, and Communism are demonized by the administration (they often attribute that label to Democrats), yet we’ve had a form of corporate socialism for decades (under D and R administrations). Bailouts, too big to fail, SNAP and Medicare going to Walmart and Amazon employees because they don’t get a living wage, and arguably the ACA where subsidies go to big corporations that are very profitable. All examples of rich corporations and the wealthy funneling government money (taxpayer money and government debt) their way. Trickling up, not down. Why ? Because those entities effectively control the government, more so now under Trump, but it was true under Democratic administrations also.
Corporate Socialism is an outcome related to state-backed oligopoly capitalism, or just crony capitalism. Big Pharmaceutical companies are one of the biggest beneficiaries.
Seems entirely possible, in light of all the circular investments. Just add a government circle. Appreciate that I knew about the importance of Google’s chips early due to one of your posts.
Current partners such as Nvidia, Anthropic, OpenAI, Advanced Micro Devices, Amazon Web Services, Microsoft, IBM, and Google, all interestingly enough, were major donors to the new and improved East Wing Palatial Ballroom that the 'taxpayer' doesn't have to pay for...............
D. Stone: Trump (and all) just goes ahead and does whatever he wants and then thumbs his nose at anyone who complains. Also, that bean-counter zealot Russell Vought is the budget guy who also wrote a good part of the Heritage document with its so-called executive control theory.
Also, can it be possible that the man doesn't even understand that the federal judges are not trying to usurp his presidency, but are holding to the rule of law, which is their mandated job? Which is it, is he a completely uneducated intellectual DUD, or just a moral flatliner?
Not a certainty even in the House of Quislings. As for the Senate, would get filibustered unless attached to a reconciliation bill ... and the Rs only get one of them a year under the Byrd Rule.
While I like the sound of clear government control and principled and protocoled oversight, again, with boards of scientists and good people working for the people, RATHER than by private business and their fake "public-private partnerships" (aka foxes in the chicken house), we ALL also know that, if it's the Trump family and their kissy buddies, they know exactly how to make it "sound" to anyone who has a shred of trust and optimism left. (Not me--I'd as easily trust Putin to uphold his promises to Zelinsky).
One version of "clear, principled and protocoled oversight" is dynamically and intimately connected with the U.S. Constitution and the amendments, the rule of law, the tri-part federal system, Habeus Corpus, and a good dose of basic authenticity and trustworthiness.
The other version is, as one person here put it earlier, LARCENY as pure and unfettered as anything Shakespeare or Dickens ever wrote about.
As a free market and limited government enthusiast, I couldn’t hate all of this more.
This corporate welfare and corporate socialism.
Do we really want tax patter funds to go to people that are outwardly wanting to make people economically obsolete?
These companies and Gen AI aren’t vital to the Economy. The marriage of capital and labor is what provides the most prosperity. Not a bunch of technocrats trying to automate the joy and purpose out of life.
The timing of Sacks going from no bailout to we cant let it crash is pretty telling. If Genesis really is just warehousing chips to prop up Nvidia's numbers, that'd be a wild misuse of taxpayer money. I'm curious wether we'll see actual scientific output or if these LLMs just end up generating dead end queries like you mentiond.
It would be a grim irony if, after decades of tax breaks, lax antitrust enforcement and subsidised infrastructure, the American taxpayer ends up footing the bill for a bailout of the very Big Tech firms racing to colonise our cognitive space. This would mean loading the downside risk onto the public of a planetary infrastructure for data extraction and “cognitive capture” that could ultimately deskill workers, hollow out democracy and make large parts of humanity economically obsolete — while the upside is privatised in a handful of balance sheets. If we’re going to underwrite this system with public money, the public should at least own a meaningful share of the upside, governance rights, and strict limits on how these technologies can be deployed. Otherwise it’s not innovation — it’s extraction with a taxpayer-funded safety net.
To me this reads: they can't afford scaling (in the extent required or desired to reach their goals), and anyway scaling won't work (to the extent desired).
Honestly, seen from abroad, this behaviour seems very similar to how China push its AI environment: but without the clear glimpse of what next. Do we really believe that Government is so able to point and plan accordingly? Will the market support this?
Even if it is stupid instead of evil, and they actually believe massive current AI architectures are an important way forward, it still acts as an advanced bailout.
Socialism for the rich, capitalism for the poor, as has often been said.
Exactly my thought. Socialism, Democratic Socialism, and Communism are demonized by the administration (they often attribute that label to Democrats), yet we’ve had a form of corporate socialism for decades (under D and R administrations). Bailouts, too big to fail, SNAP and Medicare going to Walmart and Amazon employees because they don’t get a living wage, and arguably the ACA where subsidies go to big corporations that are very profitable. All examples of rich corporations and the wealthy funneling government money (taxpayer money and government debt) their way. Trickling up, not down. Why ? Because those entities effectively control the government, more so now under Trump, but it was true under Democratic administrations also.
Corporate Socialism is an outcome related to state-backed oligopoly capitalism, or just crony capitalism. Big Pharmaceutical companies are one of the biggest beneficiaries.
Seems entirely possible, in light of all the circular investments. Just add a government circle. Appreciate that I knew about the importance of Google’s chips early due to one of your posts.
And next of course get the Fed involved. So you’d be coming full cycle.
By signing the executive order, Trump is owning the bubble and it's consequences.
When it all goes pear-shaped Trump will blame it on illegal aliens and 38% of Americans will believe him.
Bruce Cohen: Don't you know? "Nancy, Chuck, Biden, and Obama did it."
Trump has never suffered consequences.
Thankfully he's making America great and doesn't deserve consequences - accolades maybe. Got a problem man?
Not going to waste my time refuting retarded ignorant dishonest fascist trolls -- blocked.
He will probably end up as Hoover 2.0.
Hoover+
Current partners such as Nvidia, Anthropic, OpenAI, Advanced Micro Devices, Amazon Web Services, Microsoft, IBM, and Google, all interestingly enough, were major donors to the new and improved East Wing Palatial Ballroom that the 'taxpayer' doesn't have to pay for...............
Yet.
Can WH just EO new spending w/o congressional approval?
Not legally, but when has that ever stopped Trump ?
D. Stone: Trump (and all) just goes ahead and does whatever he wants and then thumbs his nose at anyone who complains. Also, that bean-counter zealot Russell Vought is the budget guy who also wrote a good part of the Heritage document with its so-called executive control theory.
Also, can it be possible that the man doesn't even understand that the federal judges are not trying to usurp his presidency, but are holding to the rule of law, which is their mandated job? Which is it, is he a completely uneducated intellectual DUD, or just a moral flatliner?
The world's most famous insider trading club? They'll reach across the aisle with joy to rubber stamp it.
Not a certainty even in the House of Quislings. As for the Senate, would get filibustered unless attached to a reconciliation bill ... and the Rs only get one of them a year under the Byrd Rule.
While I like the sound of clear government control and principled and protocoled oversight, again, with boards of scientists and good people working for the people, RATHER than by private business and their fake "public-private partnerships" (aka foxes in the chicken house), we ALL also know that, if it's the Trump family and their kissy buddies, they know exactly how to make it "sound" to anyone who has a shred of trust and optimism left. (Not me--I'd as easily trust Putin to uphold his promises to Zelinsky).
One version of "clear, principled and protocoled oversight" is dynamically and intimately connected with the U.S. Constitution and the amendments, the rule of law, the tri-part federal system, Habeus Corpus, and a good dose of basic authenticity and trustworthiness.
The other version is, as one person here put it earlier, LARCENY as pure and unfettered as anything Shakespeare or Dickens ever wrote about.
They are probably trying a new narrative, since " bailout " is politically toxic. The end result is the same.
They are trying to sustain the gigantic misallocation of capital, which is happening because the overclass has nowhere else to park the cash.
As a free market and limited government enthusiast, I couldn’t hate all of this more.
This corporate welfare and corporate socialism.
Do we really want tax patter funds to go to people that are outwardly wanting to make people economically obsolete?
These companies and Gen AI aren’t vital to the Economy. The marriage of capital and labor is what provides the most prosperity. Not a bunch of technocrats trying to automate the joy and purpose out of life.
Long live the human spirit
Love this. I want all of this slapped down and crushed so badly that I'm having dreams about it.
The timing of Sacks going from no bailout to we cant let it crash is pretty telling. If Genesis really is just warehousing chips to prop up Nvidia's numbers, that'd be a wild misuse of taxpayer money. I'm curious wether we'll see actual scientific output or if these LLMs just end up generating dead end queries like you mentiond.
This pisses,me off to no end.Talk about a waste of money. Is the government going to bail out every company that makes a shitty product
It would be a grim irony if, after decades of tax breaks, lax antitrust enforcement and subsidised infrastructure, the American taxpayer ends up footing the bill for a bailout of the very Big Tech firms racing to colonise our cognitive space. This would mean loading the downside risk onto the public of a planetary infrastructure for data extraction and “cognitive capture” that could ultimately deskill workers, hollow out democracy and make large parts of humanity economically obsolete — while the upside is privatised in a handful of balance sheets. If we’re going to underwrite this system with public money, the public should at least own a meaningful share of the upside, governance rights, and strict limits on how these technologies can be deployed. Otherwise it’s not innovation — it’s extraction with a taxpayer-funded safety net.
Who's going to bail out 150k programmers? Oh nevermind....
To me this reads: they can't afford scaling (in the extent required or desired to reach their goals), and anyway scaling won't work (to the extent desired).
Honestly, seen from abroad, this behaviour seems very similar to how China push its AI environment: but without the clear glimpse of what next. Do we really believe that Government is so able to point and plan accordingly? Will the market support this?
Even if it is stupid instead of evil, and they actually believe massive current AI architectures are an important way forward, it still acts as an advanced bailout.
But only temporary…