AI & Tech
OpenAI Proposes Government Equity Stake Called Protection Racket by Galloway
Raging Moderates
American Pride CRUMBLES as the Country Turns 250 Under Trump
What was said
"OpenAI proposing that the government take a 5% stake in AI is essentially a protection racket that we'll give you some equity, a give in exchange, you favor us over everybody else. It's it's essentially cronyism dressed up as patriotism, or at worst, it's what I've been predicting, and that is a bailout of the AI companies whose valuations can't, or CapEx commitments can't in any way be justified by the demand."
Scott Galloway characterizes OpenAI's proposal for the US government to take a 5% stake in leading AI companies as cronyism disguised as patriotism. He argues this represents an early bailout attempt for AI companies that cannot justify their massive capital expenditures with actual demand. Galloway predicts this will become the biggest bailout since 2008 financial crisis.
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- Programme
- Raging Moderates
- Episode
- American Pride CRUMBLES as the Country Turns 250 Under Trump
- Clip time
- 33:56
- Original source
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Raging Moderates