OpenAI Oligarch Pre-Emptively Demands Government Bailout When AI Bubble Bursts
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
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Socialized losses, privatized gains.
As it is, even sans the inevitable government bailout, the AI industry is already a massive welfare leech,
hogging electricity and water supplies that the public subsidizes through labyrinthine schemes on the vague promise that someday, at some point, that investment will pay off with lucrative tech jobs.
(No one mentions in the sales pitch, of course, the unspoken clause that all of those jobs will likely be filled by Indian migrants on H1B visas).
The groundwork for the AI bailout was laid long ago when the Trump administration effectively put all its economic eggs in the AI basket.
On literally the second day of his administration, alongside a freakshow trio of a Japanese eunuch, the demonic elf Sam Altman, and the unsettling human-esque martian creature, Larry Ellison, the president announced something called “Project Stargate,” billed as the “largest AI infrastructure project in history,” in which hundreds of billions of American treasure would be poured into the industry that would produce 100,000 jobs “almost immediately.”
(Ten months in, it hasn’t.)