Firms like OpenAI flip-flop on asking for explicit government backstops. But here's the thing - there are many ways in which the current financial architecture already has the state facilitating and functionally subsidizing AI infrastructure. More on this coming soon in a followup to this piece.

All of Kashmir is on a suspect list as the state as usual goes a hate filled rampage - rounding up hundreds, demolishing homes, intensifying surveillance… is routine. And horrifyingly even the common people join in - harassing, attacking, lynching Kashmiris across India.

Sharing something I wrote - open.substack.com/pub/radicalt...

This Hyperion deal is all very similar to the kind of financial engineering that crashed the economy in 2008, and is now being repackaged for the AI boom. Rumors are that Xai is going to be doing something similar soon.

Meta pulled a $27 billion financial wizardry with its Hyperion data center in Louisiana. First they created a shell company along with an asset management firm then pledged to pay rent to it - then leveraged those promises made basically to themselves into construction loans.