If you’re a subscriber to Wired.com I want to suggest that you read this piece: Why the Postpandemic Tech Bust Sent Billionaires to Trump.

It’s interesting enough that I’d suggest it would be worth whatever one month free or first month for a buck offers they might have to sign up. (Of course, I’m all for subscribing to every publication. Some of you will decide to keep it long term.) And if you can’t, it’s actually an excerpt from a book which, I think, is out today, titled: Against Tech Oligarchy: Worker Resistance in the World’s Most Powerful Industry.

The piece published in Wired doesn’t cover any terribly surprising new ground for people who’ve followed this story closely. But it does add new layers of detail and a more coherent narrative. In so many words the pandemic created a situation in which both the Democrats and Big Tech’s own employees turned against the owner founders. And that sent the owner founders running toward the right and Donald Trump. For a variety of reasons the tech giants went on a hiring spree during the pandemic — cheap money, Zoom life, work from home, everything bought online and delivered to your home. But then they got spooked and the markets didn’t like it. They’d overextended themselves and they decided that the problem was that they weren’t efficient enough and that their employees were lazy. The authors note a key point that layoffs went differently in tech than in traditional manufacturing, where layoffs have a direct impact on revenues, even if they may make good profit and loss sense. In tech, a lot of your value is already banked in the code. Layoffs probably won’t catch up with you for a while.

I wanted to share a few more thoughts with you about this roiling public debate about AI and the dangers of rogue, uncontrollable “agents.”

I start with the quite predictable conclusion that a lot of the contending theories we were talking about are true at the same time, at least to some degree. It is impossible not to see how a controlled deceleration of AI development serves financial purposes for the frontier AI labs. A regulatory pause sort of freezes their current lead in place, at least to a degree. It also allows them to focus on the massive returns of what we might call “meh” AI/LLMs while deprioritizing the kind of cutting edge research that costs a lot, has various risks and doesn’t have clear returns within the time horizon of your IPO. (The two top U.S. “frontier” labs are in their final preparations for going public.) It has also become increasingly clear to me that significant chunks of the AI world are in the thrall of a self-styled “rationalist” subculture which spends an inordinate amount of time postulating future human extinction events — dressed up in a lot of “rationalist” language but about which no one really has any idea — and then devising often quite sinister strategies for averting these imagined futures. (AI was a big focus of theirs before the last few years, but they have several storylines about future extinction events in the distant future.) It is finally the case that a lot of the people sounding these alarms have little acquaintance with how the world works outside of the computing domain and speak on issues of intelligence, sentience and self-awareness while knowing little or nothing about the scientific fields where these topics have been studied for decades or even centuries.

Needless to say, none of these facts inspire a lot of confidence.