Openai · Fortune Technology
In an AI-driven economy, he argued, the traditional balance of income between labor and capital will tilt dramatically
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OpenAI’s paper echoes that logic almost beat for beat.
Key facts
- Taxing capital gains at ordinary income rates is a proposal that pushed Marc Andreessen to back Donald Trump after President Biden floated a plan to tax unrealized gains in 2024
- Goldman Sachs research has estimated that AI is already cutting roughly 16,000 U.S. jobs per month, with younger workers bearing a disproportionate share
- By some estimates, more than $1 trillion in billionaire wealth has already left California in anticipation of the ballot measure
- And now, with OpenAI’s 13-page document in hand, he has the most powerful company in AI cosigning his thesis
Summary
When Vinod Khosla sat down with Fortune editor-in-chief Alyson Shontell in March and floated the idea of wiping out federal income taxes for the roughly 100-million-plus Americans earning less than $100,000 a year, it sounded like the kind of provocation only a billionaire with nothing left to prove could get away with. A month later, OpenAI has made it clear that Khosla’s thinking may be the emerging consensus of Silicon Valley’s most powerful voices on how to prevent artificial intelligence from tearing the social fabric apart. On Monday, OpenAI released a 13-page policy paper titled Industrial Policy for the Intelligence Age: Ideas to Keep People First, in which Sam Altman’s company laid out a sweeping blueprint for economic reform on a scale it compared to the Progressive Era of the early 1900s and Franklin Roosevelt’s New Deal of the 1930s.
OpenAI’s blueprint lands in the same territory, albeit through a slightly different door.