Artificial Intelligence evangelist promises free money and a shorter workweek. Should we get on board now?

Photo above - Okay, TED talker! Free lunch for everyone?


From my recent phone call with Sam Altman (billionaire CEO of Open AI.) who despite being a college dropout with no credentials in economics or Finance, has done surprisingly well for himself:

Mr. Altman: “Hey buddy – how’d you like to work 4 days a week and get paid for 5?” (Um, I already work less than 32 hours a week. That’s why I don’t get company health benefits. It's an official policy where I work. I'm a part-time contractor without benefits)

Mr. Altman: “Okay then, how about THIS? You get free money from my new AI public wealth fund. No questions asked. A monthly check.” (How will that work? Like UBI was supposed to? Where does the money come from? How big will my check be? Enough to buy health insurance?)

Mr. Altman: “Let’s not get bogged down in the details right now. Are you on board with my idea or not? My fortune might depend on people believing in this scheme . . . ”

This conversation never took place, of course. But that’s the gist of Sam Altman’s idea. In the fine print he goes on to admit: “ . . . Sounds too good to be true, and it might be. . . but let’s kickstart the conversation . . this is the starting point for discussions. . . “ (see link below)

Well, Mr. Altman, your proposal is certainly NOT as beguiling as Elon Musk’s promise - that nobody will ever have to work again after AI. And we can all live on Mars. But I’m not someone to turn her back on free money. This is America after all. Nobody refused Covid 19 Pandemic stimulus money, or those $7,500 tax rebates for buying an insanely expensive Tesla sports car.

Let’s tiptoe into the forbidden questions that Sam Altman doesn’t want to get bogged down in yet. Is this deal going to be some sort of AI tax? Collected at the point sale by the US government? Sort of like the IRS deductions from our paychecks, or more like a national sales tax? Will the free money for everyone be distributed like social security checks, regardless of income or need?

How much will AI customers have to pay extra to make this work – 20%? 50%? People are already carping about their $100 a month ChatGPT subscriptions. Some company recently burned through half a BILLION dollars in AI charges, without realizing it. And what happens when AI stuff from China, India, and South Korea shows up? Won’t that software undercut higher taxed American AI products? That’s already happening with Chinese EVs. Somebody banned these in the USA because they’re too affordable. Now everyone has to drive 20 miles across the Canadian border if they want one.

Mr. Altman, your scheme is simply a new tax, administered by a huge new federal bureaucracy, which will collect and redistribute our money. Can you identify any technological advance, at any time, in any nation, where this worked? Universal welfare without questions based on new inventions? I can’t either . . .

That’s my contribution to your dialogue on AI welfare, Mr. Altman. And if you’d like to add me to your corporate team of speechwriters and strategic visionaries, I’m available for real wages, 5 days a week, as long as health benefits are included. You can avoid this sort of embarrassment in the future, maybe?

I’m just sayin’ . . .



OpenAI's CEO wants to give every American a share of AI profits (and a 4-day workweek) — here's the plan to cut you in

https://www.msn.com/en-us/money/personalfinance/openai-s-ceo-wants-to-give-every-american-a-share-of-ai-profits-and-a-4-day-workweek-here-s-the-plan-to-cut-you-in/ar-AA25Xpfx?ocid=msedgntp&pc=HCTS&cvid=6a3517fb6a224bd5b2a8b53b2495a95a&ei=99