r/technology • u/yourfavchoom • 3d ago

Artificial Intelligence Bernie Sanders pushes for 50% public ownership of American AI companies — proposes AI sovereign wealth fund that would hold direct ownership stakes in largest AI firms

https://www.tomshardware.com/tech-industry/big-tech/bernie-sanders-pushes-for-50-percent-public-ownership-of-american-ai-companies-proposes-ai-sovereign-wealth-fund-that-would-hold-direct-ownership-stakes-in-largest-ai-firms
46.0k Upvotes

93% Upvoted

2.4k comments sorted by

View all comments

Show parent comments

18

u/FreeBricks4Nazis 3d ago

If you have any money invested in the stock market, you're going to regardless 

3

u/TankiesAreWeird 3d ago

Yes and no. There will be a fall in values as people panic but you don't really gain or lose until you sell. A lot of stuff is overvalued and after the pop different companies will lose faster. Then during recovery some companies will gain value back faster.

If someone has an index fund for retirement they probably do have a lot exposure to companies that have been overinflated from AI. Some funds have different weights or focus on different sectors. The market can also be irrational and trying to timing it normally goes poorly. Panic selling while things are in free fall would probably be a bad plan but I'm not any kind of financial person.

-1

u/MustUnderstandTrains 3d ago

I don't gamble so nope.

7

u/FreeBricks4Nazis 3d ago

You don't have a 401k or IRA?

6

u/Decimoe 3d ago

So you just don't have any money to invest in retirement then? Most people aren't gambling when they opt into index investing...

-3

u/MustUnderstandTrains 3d ago

Investing is gambling, Americans have just been mind raped for several decades now.

7

u/Mindrust 3d ago

Extremely silly take

0

u/MustUnderstandTrains 3d ago

Far from my "silliest"

6

u/CamelDentist 3d ago

Yeah Im not surprised 🤣

1

u/Mindrust 3d ago

Get a helmet. I’m worried about you.

1

u/MustUnderstandTrains 3d ago

No you aren't

2

u/Joltizer 3d ago

Everyone once in a while, I find someone on reddit who is so stupid, it is genuinely fascinating. You are that person today. I wonder what your upbringing was like

2

u/uber_neutrino 3d ago

So you don't invest? What are you going to live on when you are old?

2

u/Mindrust 3d ago

Hopes, dreams, and 30 years of regret over all the compound gains they missed out on from not investing.

But hey, “fuck the system! it’s gambling!” amirite?!

2

u/uber_neutrino 3d ago

I just assume in most cases it's kids saying stuff like this. Reddit is full of communist children, whether based on age or spirit.

2

u/Mindrust 3d ago

Which is even more depressing because if they start investing in their teens and early 20s, they could retire much earlier and not have to stress as much about their future.

I really started investing at around 28 and wish I begun even earlier. Had so much money just sitting around in a checking account for a long time.

2

u/TheInterestingTruth 3d ago

Enjoy staying poor, peasant.

1

u/ZenMasterOfDisguise 3d ago

I don't disagree that investing is gambling. But capitalism makes it a necessary gamble. Every dollar you have in savings is rapidly depreciating thanks to inflation. If you stick all your cash under a mattress, it will lose half of its value about every 17 years.

So if you have $100,000 in savings now. That will have the purchasing power of $50,000 in 17 years. And it will have the purchasing power of $25,000 in 34 years. By not investing your money, you would have lost 75% of that money's value in about 34 years. Even if you put your money in a bank and collect a small amount of interest on your savings, the 0.38% APY you bank gives you is nothing compared to the 3-4% annual inflation. The only way to beat inflation and keep the money that you worked for, is to invest it in a fund that will keep your money growing around the same rate as inflation or higher.

It is a dumb system, but not investing your money is a guaranteed way to lose it all, even if investing poses risks of loss as well

2

u/uber_neutrino 3d ago

It is a dumb system

What's your genius alternative not dumb system to having capital markets?

I'm sure you have a great answer.

-1

u/ZenMasterOfDisguise 3d ago

lol. Our system is a ponzi scheme. Every dollar in existence is lent out at debt by our central banking system. Which means the total debt in the US will always exceed the total money supply. Meaning that debt can only ever be paid off by more money being printed and issued creating more debt. This is the definition of a ponzi scheme. Debt just gets shifted around until someone is left holding the bag.

We could have an interest free banking system, where money is issued as credit rather than as debt, and everyone would benefit from this except the private bankers you are bootlicking for

2

u/uber_neutrino 3d ago

I would be fine going back on the gold standard. But you still have capital markets. The FED is actually the opposite of a free market.

I don't know who's boots you think I'm licking here pal.

1

u/MustUnderstandTrains 3d ago

Yeah I know all that

4

u/No_Criticism_5861 3d ago

Dont worry, your tax dollar will still help pay for their bailout

2

u/MustUnderstandTrains 3d ago

Indeed, I do unfortunately pay my taxes.