Big Tech's Big Hedge with Big AI
Large investments means sizable stakes for the last wave of technology in the next wave of technology...
If you can't beat them, be in them.
That's the saying, right? Well, it is now. As one of the more wild things to me in our current Age of AI is an element that's so blatant, almost no one seems to really talk about it: the fact that basically all of Big Tech owns sizable chunks of Big AI.
I mean that literally. As in, most of the biggest companies in technology – which are now, of course, the biggest companies in the world – are massive equity holders on the cap tables of most of the biggest up-and-coming companies in AI. There are various reasons for these deals, which I'll get to, but at the highest level, it provides massive downside protection in the event that these AI companies take over the world. Yes, it's a hedge...