Step right up folks! Please don’t crowd! No need to shove, plenty here for everyone!
Welcome to the AI boom! Silicon Valley billionaires are now proposing a scheme to deliver an unbelievable windfall to “every citizen.” Tech titans like Sam Altman of OpenAI are pushing the federal government to create a “public wealth fund” to let us commoners be investment partners in building the AI wonderworld.
Lest you worry that this might be a corporate scam, note that Donald Trump, the deal-maker-in-chief, exults that letting the American public buy into the tech booms is a sure bet to “make them rich.” And Altman adds that a public investment fund would allow Joe and Jill Schmo to “participate directly in the upside of AI-driven growth.”
Wow — benevolent capitalism! But wait… aren’t AI barons infamous greedheads who constantly rig the system for themselves, sneer at the public, and openly disdain government programs? Well, yes.
They say we would “share in the upside” of AI, but what about the downside?
Far from profitable, all of the industry’s powerhouses, including OpenAI, are losing hundreds of billions of dollars while carelessly adding trillions in new debt and — shhhh — quietly admitting that their razzle-dazzle computer fantasies might not work.
They won’t tell you this, but going bust is a real possibility. And that is why AI’s private-enterprise whizzes are now so desperately pushing us taxpayers to become their socialist “partners.” If and when they fail, your and my role is to save their bacon by demanding that “the public” deserves a government bailout.
Jim Hightower has been described as that rarest of species: "A visionary with horse sense and a leader with a sense of humor." Today, Hightower is one of the most respected "outside Washington" leaders in the United States. Author, radio commentator and host, public speaker and political sparkplug, this Texan has spent more than two decades battling Washington and Wall Street on behalf of consumers, children, working families, environmentalists, small business and just-plain-folks. Right out of college, Hightower went to work as a legislative aide to Texas Senator Ralph Yarborough, a tireless liberal/populist stalwart in a cranky, often conservative state. In the early 1970s he headed up the Agribusiness Accountability Project, writing several books and testifying to Congress about the human costs of corporate profiteering and the value of sustainable, healthy, cooperative farming. From 1977 to 1979, he edited the Texas Observer, a thorn in the side of Texas Neanderthal politicians and a hotbed of first-rate journalism. In 1982, Hightower was elected Texas Agriculture Commissioner and then re-elected in 1986. The statewide post gave him a chance to fight for the kinds of policy and regulatory initiatives on behalf of family farmers and consumers he had long advocated. It also gave him visibility in national political circles, where Hightower became a prominent supporter of the Rainbow insurgencies within the Democratic Party in the 1984 and 1988 elections. In 1997 Hightower released a new book, There`s Nothing In The Middle Of The Road But Yellow Stripes And Dead Armadillos. Hightower continues to produce his highly popular radio commentaries and to speak to groups across the country. His newest venture is a monthly action-newsletter, The Hightower Lowdown, which will provide his unique populist insights into the shenanigans of Washington and Wall Street -- offering subscribers timely information, arguments and language to use in battling the forces of ignorance and arrogance. HIGHTOWER RADIO: Live from the Chat & Chew, a radio call-in show, debuted Labor Day, 1996, and continues to be a success with over 70 affiliates nationwide. This show includes a live audience, musicians, guests, and callers with a progressive populist perspective unheard anywhere else on the airwaves. Updates and more details about Hightower and his projects can be found on the World Wide Web at http://www.jimhightower.com.
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