There's a fear OpenAI is playing a race to becoming too big to fail / CNBC
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Too big to fail is also a myth.
It's how capitalists at the top of the system avoid their own failure.
But the truth is, capitalism is supposed to let companies fail and be replaced by healthy competitors.
Sounds to me like they're trying to use their own mythology to save their failed skin.
To elaborate. I was in the financial industry when the housing bubble burst and "too big to fail" was an excuse to bail out the banks doing shady shit in the market. At the time, figured they knew something I didn't.
But diversification is a market principle. We're supposed to have other options and keep things balanced.
I now fully believe "too big to fail" = monopoly cronyism.
And well, they're already collapsing the system. Let them fail. The discomfort of change is inevitable.
That's what they said about capitalism — too big to fail, by design. 😃😉
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