Sam Hammond
speaker
58 appearances
1 recordings
1 series
first heard Aug 2025
last heard Aug 2025
Sam Hammond’s voice in public audio — every appearance, attributed to the second.
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Appearances
If you think about how Google got so big, it did it by monopolizing ad revenue and sucking up all the revenue that was going to small newspapers and so on and so forth.
And I do worry that AI, especially artificial general intelligence, this thing that the companies are all racing towards, essentially an AI system that could do anything a human can do.
Once you've crossed that threshold, you become the everything company and suck up a whole cross-section of the US economy.
And we need to watch out for that kind of power concentration risk.
But by the same token, the first country that gets to that point could also have an equally geopolitical scale advantage.
And this is where I think some of the lessons of Mega have not fully penetrated with the tech community.
We saw during the inauguration all the leading big tech founders in the rotunda with Trump.
There was one notable exception, namely Jensen Huang, the CEO of Nvidia, the company that has a 90% plus monopoly on the production design of these chips.
He was in Beijing and he was in Beijing several more times this year.
He was recently interviewed in Beijing and said, you know, I am Chinese and then I became American Chinese.
And so he's really been playing both sides of the race in this context.
And there's also some risk that China may have leverage over the company.
In their most recent 10K, which is an SEC disclosure, they note that if they comply with US export controls, in other words, if they follow the law and not sell China these most advanced chips, that they could be subject to retaliation by the Chinese government.
Yeah, it's very early, right?
So these systems sort of cross reliability thresholds and before then, sort of like self-driving, until self-driving was safer than humans, but, you know, 100x safer than humans, we're not going to get autonomous cars on all the roads.
And similar in a lot of these other contexts.
But what I worry about is, you know,
We've got over a trillion dollars of CapEx going out into these data centers.
You mentioned the MEG-7.
It's really these six or seven companies that are driving all the stock market returns over the last year or so.
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