alt Hacker NewsNo bailout is fine but I think the gross thing about this is it's clear they also hope these companies fail.
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No, these companies know they don't have a moat, so have been laying the groundwork for a bailout (e.g. Altman pushing the idea of "Universal Basic Compute", essentially a forced subscription to ChatGPT through your taxes).
The politicians rising through the ranks now lived through 2008 as young adults, and they watched politicians cutting checks to companies who ruined the economy, only to emerge richer; while regular folk got foreclosed on and never recovered. They heard the rise of the phrase "too big to fail".
Well now we have a group of companies that clearly want to be too big, so now is exactly the time to make clear to them they aren't too big to fail. Maybe, just maybe if they know they can't count on a UBC bailout on the other side of a bubble pop, they will act a little more responsibly (which they have not demonstrated they're capable of that to date).
It's a very ugly thing about political polarization. It's easier to destroy than to build, and both sides seem gleeful about tearing down whatever is (rightfully or not) perceived to be aligned with the 'other'.
The reaction to Charlie Kirk's murder (not even the murder itself, but the celebration of it) made it the most shocking political event for me personally, in my lifetime. And it seems like it might be like this from now on - ripping things apart, destroying lives, and then cheering about it.