Nailed it. I had a similar conversation with a friend yesterday.
A big part of elite special interests you mention is their fiat bags and my response was more focused on that angle.
“That’s the fear playbook the state is running with AI right now. “AI can destroy the world. We must regulate it.” When it has nothing to do with that. The truth is that in a free market, prices fall to the marginal cost of production, and the marginal cost of production of AI (lines of code) is basically zero. Which means every big AI company is already insolvent and guaranteed to go belly up. Which crashes the entire “economy” because AI is where all the capital and debt is right now. So the only option is to create regulatory moats and monopolies within AI to maintain the illusion that AI fits into a fiat monetary system on its last breaths.”
