Why The U.S. Government Should Not Own Any Of OpenAI -- and ICYMI: 7 Stories From Last Week!
We featured a lot of great, original content this past week. Below are 7 highlights of columns from the (short) week that was, and a mini-column by yours truly.
Below is a quick “mini-column” - then the ICYMI stuff below…
The U.S. Government Should Not Own Any Part Of OpenAI
OpenAI has floated a proposal for the federal government to take a five percent ownership stake in the company, supposedly to give Americans a share in the upside of artificial intelligence. For anyone with even a basic belief in limited government, that is a terrible idea. Adam Smith, the 18th-century Scottish economist often called the father of modern capitalism, understood that markets work best when government sets fair rules and then gets off the field. Two centuries later, Milton Friedman, the Nobel Prize-winning economist and one of America’s great defenders of free markets, warned that economic freedom and political freedom both suffer when government gets tangled up with private enterprise. A federal stake in OpenAI would violate that basic principle.
The first problem is obvious: conflict of interest. The federal government regulates artificial intelligence. It will make decisions on antitrust enforcement, export controls, safety rules, intellectual property, competition policy, federal procurement, and maybe one day licensing requirements for advanced AI systems. How can the public trust those decisions if Washington makes money when one particular company wins? What happens if a competitor builds a better product? Will regulators stay neutral if billions in government assets are tied to OpenAI’s market value?
We have seen this movie before. Governments are bad at picking winners and losers. Once politicians have a financial stake in a company, politics begins to replace market discipline. Lobbying intensifies. Competitors seek favors. Innovation slows. Supporters argue that Americans deserve to share in the wealth from AI. Fine — they already can, through retirement accounts, mutual funds, index funds, and public markets that spread ownership across the economy. That is entirely different from making the federal government a shareholder in one favored firm. Washington cannot be both umpire and player. In a free country, the choice should be obvious. - JSF
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BELOW ARE SEVEN STORIES THAT YOU MAY HAVE MISSED!
Without Unity, A Very Narrow Path For California Republicans Becomes Impossible - It's Time For Bianco To Endorse Hilton
This column first appeared in the California Globe. The Globe is a “must-read” for those following California politics!
Newsom’s Final Budget: California’s Fiscal House Of Cards
Typically, our afternoon content is behind a paywall — or there is something extra for our paid subscribers. If you are not one, please consider upgrading. You are missing a significant portion of what we produce each week, and your support makes it possible.
Two Huge Second Amendment Developments In Two Days Could Reshape California Gun Law
Our morning content is available to all subscribers and guests! You can listen to this post (and all posts) on our podcast feed, So, Does It Matter? SPOKEN. It is available on your favorite podcast app. And you can listen to it here.
Gavin Newsom And The Democratic Party’s Socialist Future
Our morning content is free for all subscribers and guests! Usually our afternoon content is behind a paywall… If you are not yet a paid subscriber, consider upgrading — you are missing a significant portion of what we produce each week, and your support makes it possible. If you want to get it all and support my efforts, please consider a paid subscrip…
Newsom’s Calculated Embrace Of Mamdani’s Socialist Rise
Our morning content is free for all subscribers and guests! Usually our afternoon content is behind a paywall, but not when I am previewing a California Post column… If you are not yet a paid subscriber, consider upgrading — you are missing a significant portion of what we produce each week, and your support makes it possible. If you want to get it all and support my efforts, please consider a paid subscription!
Supreme Court Roundup: Quick Hits On Ten Big Decisions From The Court’s Final Two Weeks
Normally, this is the kind of piece I would put behind the paywall. It took some work to pull together, and this kind of quick analysis is a big part of what paid subscribers support. But today I am leaving the paywall down so free readers can get a better sense of what they are missing. Also, ideal for sharing with friends or on social media. If you li…
We Do NOT Need Politics In Major League Baseball (Or Any Other Sports, Frankly)
Our morning content is free for all subscribers and guests! Usually our afternoon content is behind a paywall…. If you are not yet a paid subscriber, consider upgrading — you are missing a significant portion of what we produce each week, and your support makes it possible. If you want to get it all and support my efforts, please consider a paid subscription!
On This Date in 1994…
JEFF BEZOS FOUNDS AMAZON
On this day in 1994, Jeff Bezos founded Amazon from a garage in Bellevue, Washington. At the time, fewer than one percent of the world’s population had access to the internet, and online shopping was largely untested. Bezos believed the internet would fundamentally change the way people bought and sold goods, and he chose books as his first product because an online store could offer far more titles than any physical bookstore ever could. What began as a small startup with a handful of employees quickly grew into one of the most successful businesses in American history.
Today, Amazon is far more than an online retailer. The company operates one of the world’s largest logistics networks, produces movies and television shows, manufactures consumer electronics, develops artificial intelligence technology, and provides cloud computing services that power much of the modern internet. Its influence can be seen in homes, businesses, and industries around the globe. Few companies have grown from such modest beginnings to play such a large role in everyday life, making Amazon one of the defining American business stories of the last generation.
Hope you’ve been having a great holiday weekend!
Jon