How do you know AI is a disruptive technology?
Well, it’s when in the same week President Trump and Senator Berne Sanders both propose that the U.S. government should take an ownership stake in U.S. AI companies.
President Trump just floated the idea of doing something similar to the federal government’s recent 10% stake in Intel.
Earlier this week, Sen. Senators previewed his AI Sovereign Wealth Fund under which the federal government would take 50% interests in U.S. AI companies and use the profits from the shares of stock to pay dividends to the American people. The Wall Street Journal wrote an editorial totally panning this idea as “The Road to AI State Socialism.”
The WSJ Editorial even blames Trump for setting the precedent for Sanders by having the US government take equity interests in not just Intel, but also Nippon Steel’s acquisition of US Steel and the “critical mineral developers MP Materials, Lithium Americas, Vulcan Elements, Trilogy Metals and USA Rare Earth.”
In a sentence that few would have expected, the WSJ editorial laments: “The unhappy truth is that President Trump helped pave Mr. Sanders’s road to AI socialism with his industrial policy.“
The American public essentially becomes a partner with the [AI] companies.
President donald trump
I have spoken to all of them.
There’s something very interesting about it. It almost becomes a partnership with the American public….
The American people can benefit from the success of AI. And by doing that, they’re going to like it better.
We’re leading China. We’re beating everyone in the world with AI. And we want to keep it that way. It’s probably the biggest industry we ever seen.