The Nefarious Reason Tech Companies Want AI Regulation
Earlier this week, I was surprised when I saw the following commercial:
Why on earth is Matthew McConaughey promoting AI regulation? Why is a major tech company paying millions to get this message out there?
This would be like oil companies pushing the Green New Deal. It doesn’t make any sense. Why would tech companies want their industry to be more regulated? This regulation will undoubtedly cost them millions of dollars every year.
The answer is both simple and nefarious: they don’t want competition.
The technology sector is one of the few places in our modern economy with a low barrier to entry. While it’s incredibly difficult to start a pharmaceutical company or build an airline, anyone can code a website and make it big. This is a good thing because we need new companies to keep the economy healthy and moving. Could you imagine if Zuckerberg couldn’t create Facebook because Yahoo and AOL had passed some special regulations?
Tech companies want to increase the barriers to entry for AI. They want less competition and more profits for themselves. Despite having their birth in the Wild West, they now want to change the rules and secure their future.
“Don’t let a ruling class of warriors and politicians squash the entrepreneurs.” — Paul Graham
If we allow tech regulation to be written and supported by the largest tech companies, we risk aristocracy, furthering the interests of a few for the sacrifice of many. If they have their way, starting an AI company will be as cumbersome as starting an airline.
Yes, responsible AI regulation will be necessary. But don’t let it crowd out the little guy. We need new entrants and strong competition for a healthy economy.
Further Reading:
Big Tech is lying about some AI risks to shut down competition
