“AI represents successful capitalism. What we have alongside that is unsuccessful government. Government has no plan — left or right.” — Keith Teare
It’s the 82nd anniversary of D-Day. On June 6, 1944, there was an unambiguous end game — the defeat of Nazi Germany. But today, end games are more controversial, especially in terms of harnessing the AI revolution to benefit everyone.
For Keith Teare, publisher of That Was the Week, the AI end game requires an “Institute of the Future.” Everyone from Bernie Sanders and Elizabeth Warren to Elon Musk and Sam Altman should hammer out a plan to harness AI for the benefit of society. Keith offers the internet governance organisation ICANN as a model for this institute. It will shape the future for all of our benefit, he promises.
So a D-Day for AI? I’m sceptical of this type of Brave New World-style technocracy. Firstly, Sanders, Warren, Musk and Altman agree on very little. And Musk and Altman hate each other. I’m also dubious that AI will or can benefit everyone. As Keith notes, some professions — teachers, for example — will be decimated by AI. Where I agree with Keith, however, is that we need a new politics for this new age. Political parties, rather than institutes, of the future. Innovation rather than ICANN.
Five Takeaways
• The Anthropic IPO Slip — and Why SpaceX Now Looks Small: Anthropic accidentally filed for its IPO this week — what the New York Times described as a slip. The terms of SpaceX’s unconventional $75 billion IPO were also revealed. Keith’s observation: SpaceX now looks small by comparison. He tried to buy SpaceX shares this week through his brokerage and expects to get none — the demand will be way bigger than the supply, and the price will go up from the offering. San Francisco real estate is already feeling the Cerebras effect: 800 employees are now millionaires. The three big IPOs — Anthropic, OpenAI, SpaceX — will compound that on a much larger scale.
• Successful Capitalism, Unsuccessful Government: Keith’s framework for the week: AI is capitalism working. Resources are directed to money-making opportunities via the profit motive, which coincides with innovation and, at least in the short term, creates lots of jobs. That is successful capitalism. Alongside it: unsuccessful government. The Trump administration went from hands-off to requiring all AI models to be submitted for a 30-day assessment before launch — in the same week. No plan. No endgame. Everyone has an opinion. Nobody states what outcome they want.
• Keith’s PhD: Why Capitalism Is Never Static: Andrew challenges Keith’s authority to pronounce on these matters. Keith reveals: he has a PhD from the University of Kent in Canterbury — on why capitalism is never static, and why new entrants always eclipse what went before. Andrew: that was the 1970s, Keith. Does a fifty-year-old PhD give you authority? Keith: it’s a useless criticism. You could say that to anyone about anything. The exchange is revealing: the argument is not about credentials but about frameworks. And Keith’s framework — capitalism as dynamic, government as static — has at least the virtue of consistency.
• Credit to Bernie and Warren: At Least They’re Having the Conversation: Andrew expects Keith to trash Bernie Sanders (50% government ownership of AI companies) and Elizabeth Warren (high taxation of AI profits). Keith surprises him: at least they’re having the conversation. His criticism is not that they’re wrong to want wealth distribution but that their framing — tax, centralise, spend — is unattractive to most people and captured by the interests of the old economy: teachers’ unions, trade unions, legacy coalitions that can’t think freely about a future without teachers as they currently exist.
• An ICANN for AI: Keith’s One Concrete Prescription: Andrew pushes Keith for one concrete thing politicians should do this year. Keith’s answer: create an Institute for the Future. Bring Musk, Altman, Amodei, Sanders, Warren, and everyone else to the table with a clear mandate — define the future you want, agree actual outcomes, seek governmental authority to implement them. His model: ICANN, the global internet governance body, which disagrees constantly and still makes decisions. Andrew’s verdict: Keith wants to create an ICANN for society. Interesting idea. History’s jury is out.
About the Guest
Keith Teare is a British-American entrepreneur, investor, and publisher of the That Was the Week newsletter. He is a co-founder of TechCrunch and Andrew’s regular TWTW co-host. He holds a PhD from the University of Kent.
References:
• That Was the Week by Keith Teare.
• Noah Smith, “We Need Liberal Nationalism to Come Back” — referenced in the conversation.
• The Economist, “American Capitalism Has Taken an Apocalyptic Turn” — referenced in the conversation.
• Ben Thompson on Google becoming a capital company; John Battelle on Google reinventing itself from search to data infrastructure — both referenced.
• ICANN — the Internet Corporation for Assigned Names and Numbers, Keith’s model for AI governance.
About Keen On America
Nobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,900 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting.
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Chapters:
- (00:31) - Introduction: D-Day, June 6, and the Anthropic IPO slip
- (02:26) - What is the endgame? AI is no longer just a tech story
- (03:46) - Successful capitalism, unsuccessful government
- (04:49) - Atomisation and the absence of proper conversation
- (05:33) - Andrew challenges Keith’s authority
- (06:42) - Keith’s PhD: capitalism is never static
- (07:13) - Bernie Sanders: 50% ownership of AI companies
- (07:30) - At least they’re having the conversation
- (07:55) - The old economy framing: tax, centralise, spend
- (08:25) - What gives Keith the authority?
- (09:00) - Jack Clark and the call to slow down
- (10:00) - The Trump administration at war with itself
- (15:00) - Andrew Yang and universal capital distribution
- (20:00) - ...
