The tech world is living through a bizarre paradox. On one hand, silicon giants are boasting record-breaking profits and pouring billions into artificial intelligence. On the other, the steady drumbeat of tech layoffs has left everyday workers feeling incredibly anxious about their financial futures. This growing disconnect has sparked a radical shift in how Americans think about corporate accountability, driving a massive surge of support for a safety net paid for by the very tech companies threatening to automate our careers.
A nationwide survey of 1,690 adults by research firm Verasight reveals a staggering statistic: 69% of Americans now support “forcing” AI companies to surrender 50% of their stock to a public, AI sovereign wealth fund. It is a bold demand that shows the public no longer views AI integration as a distant corporate upgrade, but as a direct threat to their livelihoods. Instead of watching the economic gains of automation pool into Silicon Valley’s private bank accounts, people want those riches redistributed to the society bearing the brunt of the disruption.
This grassroots frustration recently found a powerful ally in Washington. Senator Bernie Sanders proposed the American AI Sovereign Wealth Fund Act, a bill aimed at giving the public a 50% equity stake in the nation’s largest AI firms. Sanders argues that the massive financial windfalls generated by machine learning should improve the lives of the working class rather than simply padding the pockets of tech billionaires. The bill frames the debate not just as an economic policy, but as a moral battle over who owns the future of human labor.
The anxiety fueling this movement is backed by cold, hard data. Goldman Sachs economists estimate that more than 15 million American workers—roughly 9% of the total workforce—could find themselves displaced during a decade-long AI transition. While analysts suggest this massive disruption will eventually create new, highly skilled jobs, the immediate transition period threatens to mirror the painful manufacturing declines of the late 1990s. For workers facing displacement today, the promise of “future jobs” does little to pay current mortgages.
Building a successful public fund is not without its hurdles, as national treasuries would have to walk a thin line between protecting citizens and winning a global tech race. A sovereign wealth fund could fuel essential public infrastructure and capture massive gains for taxpayers, but it also risks falling behind if it prioritizes domestic social safety nets over more profitable foreign investments. However, as AI automation accelerates, the pressure on governments to act is rapidly transforming a futuristic economic theory into a necessary survival strategy.
source: cnbc
