Regulation will bring benefits to the tech giants. That is because it tends to reinforce existing market structures, creating costs that incumbents find easiest to bear, and raising barriers to entry
burst onto the scene late last year there has been no shortage of angst about the existential risks posed byBut this is different. Listen to some of the field’s pioneers and they are less worried about a dystopian future when machines outthink humans, and more about the dangers lurking within the stuff they are making now. Chat, which creates humanlike content based on its analysis of texts, images and sounds on the internet.
Such caution makes this incipient tech boom look different from the past—at least on the surface. As usual, venture capital is rolling in. But unlike the “move fast and break things” approach of yesteryear, many of the startup pitches now are first and foremost about safety. The old Silicon Valley adage about regulation—that it is better to ask for forgiveness than permission—has been jettisoned.
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