It's more a case of the fox being in charge of the chicken coop; or bank robbers gaining control of the bank.

The job of the press in a democracy is to hold officials up to scrutiny.

Quoting: "Trump has the intellect of a toddler."

Toddlers like it if you help them understand.

The logic is economic autarky -- the belief that we're always better off having complete political sovereignty over every part of our supply chains than having to depend on imports for anything.

This is likely also behind Trump's trade war with Canada. His demands with Canada aren't about discirimatory tariffs -- those were negotiated away with NAFTA then re-negotiated in his first term. His demands are now infringe on Canadian sovereignty, to give US control of Canada's external trade policy, and even on its internal markets (e.g., the use of French in Canadian internal commerce). Symbolically, that's why he wants to rename Lake Ontario to "Lake America". HIs establishment of US control over the Venezuelan oil industry is his greatest foreign policy achievement -- although it's not clear he understands the legal limits on what he can do with their money.

There's a foreign and military policy angle to this too: Taiwan is absolutely critical to the US economy, so we are absolutely committed to defend them if China invades. Semiconductor autarky would mean it's not our problem.

The problem with autarky is that even if it's a good idea (which economists don't believe), you can't conjure it into existence overnight. It will take many years, possibly decades for the US to replace the Taiwan's semiconductor industry. In effect, the administration is proposing to inflict the very damage on the US economy that a Chinese invasion of Taiwan would inflict.

And, once the US has voluntarily self-inflicted that damage, China would be free to invade Taiwan.

Investors are chasing a company that achieves some kind of AI singularity. Let's set aside the fact that there's no reason to believe there is anything but diminishing marginal returns by making marginal refinements to current frontier models. Let's imagine someone hits the jackpot and gets, not even AGI, but a system that's as far ahead of today's frontier model are ahead of 2020's GPT 2.0 in performance.

Globally AI revenues are 150 billion, against a cumulative burn rate of 450 billion. A model that is a generation ahead of others would almost certainly capture the lion's share of that revenue.

If AGI magically appears as a Sam Altman has promised investors it will, a hundred million is way too low. Add, maybe, another zero to the revenues.

Conservatively, a safer assumption is that frontier models will get marginally better based on refinements in training and reinforcement and the other bits and bobs that go into these systems. The nobody is winning the lion's share of anything, at least overnight. But you have to define "safe". By "safe" I mean unlikely to lose money. But some investors are clearly defining "safe" as "having the greatest chance of owning a piece of the biggest thing ever."

I'm not following this super-closely, but if Anthropic is pursuing adding multi-step model based reasoning to their system, that could be the basis of a generational leap in capability. But if that is an approach that looks like it has a chance of working, then their competitors are no doubt pursuing the same thing. In that case you'd expect the revenue pie to grow as the scope of model utilty increases, but that growth to be split among several competitors. This could credibly result in a revenue stream for some of them that is as big as the entire industry's revenue stream today. But there's going to be hell to pay on the data center impacts end of things.

One can criticize the politics of the early industrial revolution for not doing enough to funnel the wealth down quickly enough or to regulate the robber barons, but it was overall a massive benefit to quality of life of society as a whole.

So give your interlocutor the benefit of the doubt, and assume he/she/etc is expressing this criticism.