alt Hacker NewsYeah, and who gets to vote on bailing these companies out when their finances collapse and picking up the collateral damage? OpenAI is already normalizing the eventual bailout.
Yeah, and who gets to vote on bailing these companies out when their finances collapse and picking up the collateral damage? OpenAI is already normalizing the eventual bailout.
I wish, so so deeply in my bones, that after the 2008 financial crisis we just let everything fail. Fail fail fail, pain, turmoil. But after the pain would have been a much better, fairer system, where large banks and other "systemically important companies" like insurers would actually have to watch what they are doing, and prove they are careful stewards of money.
As an aside, basically all hedge funds in America park their funds in the Cayman Islands. Nobody is going to bail out the Cayman Islands (other than hedge funds). So I would hope that if a series of large hedge funds fail, holding myriad funds of high net worth individuals, they just fail