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Payback’s a Bitch, Baby!

Episode 2955: AI Sovereign Wealth Funds, the Fake Andrew Keen, and America’s Inevitable Decline

“The frontier AI companies invited the government into the room. Now the government is beginning to behave as if it owns the door, the guest list, the schedule, and the product roadmap.” — Keith Teare

Last week, I was away in Europe. So Keith Teare ran our That Was The Week show solo — with a chillingly authentic Andrew Keen bot. So realistic, in fact, that the fake version sounds (to me, at least) more interesting than the real one.

The bad news is that I’m back. The good news is it’s been an interesting week in tech. That was the week in which the US Commerce Department told both OpenAI and Anthropic that they now need government approval for whom they can sell their frontier AI models. This is supposedly “voluntary” — for now, at least.

Keith’s TWTW editorial argues that Dario Amodei and Sam Altman have spent over a year crying wolf about the dangers of their own technology, supposedly deliberately seeking government involvement as a regulatory moat against competitors. And now the government has walked through the door that Sam and Dario left ajar. Now, Keith argues, the US government is behaving as if it owns not just the door and the guest list, but the entire product roadmap. “Payback’s a bitch, baby!” Keith bristles in his editorial.

The other major news this week is the rumour (via David Sacks) that OpenAI has offered the US government a 50% stake in a sovereign wealth fund. If true, this would change everything — not just in Silicon Valley, but in the political debate about public ownership of our AI economy. It’s not just tech insiders like Sacks and Altman who are on board the sovereign wealth fund express, but also Bernie Sanders and other leftist critics of Big Tech. So maybe payback, at least when it comes to public investment in AI, isn’t always such a bitch. Baby!

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