Hi, I'm here to hold the bag?

We really should have thought of this before becoming peasants.

Have you tried not being poor?

It gives you a new opportunity to pull yourself up by the bootstraps. Until mommy and daddy come along with another cash infusion.

Your pension fund, yes.

This comment makes even less sense than jotras’ comment.

Pension funds buy shares in businesses such as Microsoft. The money going into the pension fund is not typically a function of the tax paid by companies such as Microsoft, but rather from a combination of actuaries’ recommendations, payroll tax receipts, and politicians’ priorities.

Therefore a pension funds’ equity holdings, such as Microsoft, doing well means taxes can be lower.

If only my country (Germany)’s pension fund was capital/stock based.

Most countries' broadest defined benefit pension funds funded via payroll tax withholdings are just simple wealth redistribution schemes from workers to non workers as opposed to funds that are invested.

Even in the USA, Social Security defined benefit pensions are cash from workers today going to non workers today, same as Germany's national scheme (gesetzliche Rentenversicherung?).

You guys are getting bags?

Under our eyes

Private industry loses 10B. Governments mostly affected as they have less free money to extract.

OpenAIs losses are someone else's (taxed) earnings.

>So just a loss for governments, or in other words, socializing the losses.

How's that different than any other sort of R&D incentive? Would you rather that companies return as much money as possible to shareholders, future growth be damned? What about other sorts of tax incentives, which by definition also "just a loss for governments"? Are tax breaks for people with kids also "socializing the losses", given that most households don't have kids?

No, because income equals expenditure. They are one and the same.