Abdul Elsayed proposes public takeover of AI firms with 50 percent democratic control

What was said

"AI is lifealtering technology. And the issue with AI is not the technology. The issue with AI is the incentive driving the technology. AI might be new technology, but the oldest technology we have on the book in in terms of figuring out how to regulate technology is democracy. And I think we need to put AI under democracy. So what we're proposing is not just 50% ownership for the public, but also 50 plus 1% control."

Elsayed unveiled a plan to mandate public ownership and democratic control of major AI companies, proposing to divest them from legacy tech firms like Microsoft, Meta, and Google. He would charter them as public interest corporations operating under a "first do no harm" principle similar to medical ethics. The proposal goes further than Bernie Sanders's AI regulation plans.