AI founders want to give shares to the public? Give them to Social Security.
The idea of a public fund that holds equity from AI companies and sends the returns to Social Security is clever in a way that deserves a closer look. It gets around the classic stalemate over tax rates, because it doesn't ask founders to pay anything they haven't already offered to give away. Some of them have talked about sharing their wealth with the public, so why not route that generosity toward a program that actually needs the money?
The hard part is the mechanics. Social Security's shortfall is driven by demographics, and equity returns are volatile. A diversified portfolio can smooth some of that, but it can't erase the risk that a big contributor's company loses value or fails outright. I'd also want to know who runs this fund and how it stays independent. The moment Congress starts picking winners among the companies whose stock it holds, the whole thing turns into a political problem.
I think the proposal is worth exploring, but I'm not ready to sign on. It could be a useful supplement to the trust funds, and it's a thoughtful way to channel AI wealth into something public. But I'd want a lot of detail on governance and valuation before trusting it with anyone's retirement money.