Trump and Bernie Agree: Let's Own AI!

One’s a narcissist, the other’s a socialist, but there’s room for all in this improbable coming together.

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Trump’s distinctive brand of idiocy was not what Harrington was focused on. In Trump’s case, the narcissism that fuels his need to control everything around him, to appear the winner in dealmaking, and to have his name stamped on a product to presumably enhance his stature has driven him to champion government co-ownership. He has taken the right-wing belief in a unitary executive one huge step further, governing by the creed of L’état c’est moi as far as Congress and the courts will let him. His is neither democratic socialism nor the socialism claimed by various authoritarians; it’s self-magnifying socialism. The model is neither Karl Marx, Gene Debs, nor Lenin; it’s Louis XIV.

Then there’s Bernie Sanders’s proposal, which is to create a sovereign wealth fund that can take major shares in fundamentally important private enterprises. Such funds exist in nations that sit atop oil fields, like Norway or Saudi Arabia, as well as in one decidedly un-Marxist U.S. state, Alaska, whose residents get an annual dividend of roughly $1,000 to $3,000 from a specified share of the revenues of oil companies drilling on lands that the state has leased or otherwise permitted them to drill on.

There’s no reason, of course, why sovereign wealth funds should restrict their investments to fossil fuels; any industry that generates massive revenues and is essential to public life should logically qualify for government co-ownership. A host of enterprises that meet that second criterion (essential to public life) are often wholly owned by governments, of course: chiefly utilities and transportation, often with the additional goal of reducing costs to consumers.

For Sanders and his allies, the move for co-ownership of the emerging AI industry stems from concerns about both income distribution and oversight in the public interest. As to that latter concern, there’s a reasonable fear that mere regulation won’t be up to the task of ensuring the public good, given both the transformational potential of AI and the speed with which it innovates. Needless to say, this concern for adequate regulation is not something that Trump has raised.

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https://prospect.org/2026/06/15/trump-bernie-sanders-ai-spacex-big-tex-anthropic/