Bernie Sanders Proposes 50% Tax on AI Profits to Create Public Sovereign Wealth Fund
By
Victor Tangermann
An everything bagel for the brain. Substantive, layered, well-seasoned.
Summary
Bernie Sanders has proposed a plan to create an "AI Sovereign Wealth Fund" funded by a one-time 50% tax on AI industry profits, arguing that the massive wealth generated by generative AI — built on training data scraped from millions of people without compensation — should benefit the public rather than just stockholders. The proposal comes as AI companies like OpenAI and Anthropic prepare for public offerings at sky-high valuations, while the average person has seen little direct benefit from the technology.
Key quotes
· 3 pulledThe hype surrounding generative AI has generated astronomical amounts of value, with tech companies raising tens of billions of dollars
Whether the average Joe will ever directly benefit from all of this is looking dubious at best.
many of these tools relying on AI models that were trained on the creative output of millions of people, copyright be damned, the vast majority of whom have yet to see a single
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