alt Hacker NewsWhy are corporations announcing business deals from the White House? There doesn’t seem to be any public ownership/benefit here, aside from potential job creation. Which could be significant. But the American public doesn’t seem to gain anything from this new company.
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Weird question. Business deals are announced by politicians all the time, especially on overseas trips. Just an example:
https://boeing.mediaroom.com/2015-04-10-Presidents-Varela-Ob...
It's foreign investment money into the US. Softbank and MGX are foreign and presumably stumping up much of the cash.
> Why are corporations announcing business deals from the White House?
You're answering your own question:
> potential job creation. Which could be significant
The US is now officially a full on oiligarchy. It always was one, it's just that the powers that be don't care to hide it anymore and are flaunting that they have the power.
For profit? I don't understand what's complicated about this.
This is my question too, but I haven't seen a journalist ask it yet. My baseless theory: Trump has promised them some kind of antitrust protections in the form of legislation to be written & passed at a later date.
An announcement of a public AI infrastructure program joined by multiple companies could have been a monumental announcement. This one just looks like three big companies getting permission to make one big one.
Lots of politicians announce major investments in their area.
If the announced spending target is true, this will be a strategic project for the US exceeding Biden's stimulus acts in scale. I think it would be pretty normal in any country to have highest-level involvement for projects like this. For example, Tesla has a much smaller revenue than this and Chancellor Olaf Scholz was still present when they opened their Gigafactory near Berlin.
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We are currently witnessing the merging of government and corporations. It was bad before but the process is accelerating now.