Still plenty of authoritarian paternalists in Silicon Valley. "So we…

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Still plenty of authoritarian paternalists in Silicon Valley.

"So we saw this exercise of raw authoritarian administrative power levied against crypto. Basically we saw the beginnings of what we thought was going to be applied to A.I.

So A.I. needs to be very carefully controlled by the government or by adjuncts of the government to make sure that there’s no hate speech or misinformation, which is to say it has to be completely politically controlled. We were trying to keep our heads down, just trying to build start-ups. Then Ben and I went to Washington in May of 2024. We couldn’t meet with Biden because, as it turns out, at the time, nobody could meet with Biden.

We were able to meet with senior staff. So we met with very senior people in the White House, in the inner core.

We basically relayed our concerns about A.I., and their response to us was, “Yes, the national agenda on A.I. We will implement it in the Biden administration and in the second term. We are going to make sure that A.I. is going to be a function of two or three large companies. We will directly regulate and control those companies. There will be no start-ups. This whole thing where you guys think you can just start companies and write code and release code on the internet — those days are over. That’s not happening.”