(Come on. You know why.)
There’s an old adage in Washington: Don’t believe anything until it is officially denied. Now that the Trump administration’s so-called artificial intelligence (AI) czar David Sacks has gone on record stating that “[t]here will be no federal bailout for AI,” we can begin speculating about what form that bailout might take.
It turns out that the chief financial officer of AI behemoth OpenAI has already put forth an idea regarding the form of such a bailout. Sarah Friar told The Wall Street Journal in a recorded interview that the industry would need federal guarantees in order to make the necessary investments to ensure American leadership in AI development and deployment. Friar later “clarified” her comments in a LinkedIn post after the pushback from Sacks saying that she had “muddied” her point by using the word “backstop” and that she really meant that AI leadership will require “government playing their part.” That sounds like the government should still do more or less what she said in the The Wall Street Journal interview.
Now maybe you are wondering why the hottest industry on the planet that is flush with hundreds of billions of dollars from investors needs a federal bailout…
Because they’re in no way profitable and want the grift to keep going.
It’s because Silicon Valley ultimately serves the Military Industrial Complex even though it may look like just photo sharing, video games and likes. So when you’re project that has military applications needs a little more money before it’s ready, you go to the taxpayers for that bit of scratch.
Whybail it out when the complex can still steal anything useful as the companies go under…
Because they either delusionally believe more captial is required to reach their AI nirvana or they want to keep the grift going.
