Artificial intelligence (AI) needs strong regulation because its effects are far-reaching and powerful. U.S. Representative Khanna states that a robust federal agency is needed to regulate AI and has put forth seven principles for a new social compact to address the issues of AI and inequality.

Big Tech needs strong regulation due to its potential for great benefit and great harm, especially artificial intelligence (AI). An innovative regulation of AI would be to have the government seize 50% of AI companies’ stock, putting the shares in a sovereign wealth fund to benefit all Americans.

The crytpo and AI industries present serious risks to the U.S. economy. They may be economic bubbles whose bursting would have serious negative effects. Crypto is a Ponzi scheme. Both industries pose serious threats to the environment and are vulnerable to China’s control of rare earth minerals.