Comment on Google CEO: If an AI bubble pops, no one is getting out clean
e461h@sh.itjust.works 1 week agoPrivatize the profits, socialize the losses
Comment on Google CEO: If an AI bubble pops, no one is getting out clean
e461h@sh.itjust.works 1 week agoPrivatize the profits, socialize the losses
conorab@lemmy.conorab.com 1 week ago
“We should privatise service X so it’s more efficient” X collapses “We can’t afford to let X fail despite the fact that it ran at massive profits all the way to it’s collapse so we’ll bail it out” THEN WHAT WAS THE POINT OF PRIVATISING IT IN THE FIRST PLACE?!
You can take on the burden of running the thing and therefore the cost of making it public, or you can allow it to be private with the caveat that they must pay a substantial (enough for the government to not be at a net loss) tax as a kind of insurance in the event a bailout is needed, but don’t take on the worst of both worlds where the profits are private and the losses are public.