President Donald Trump has proposed a policy requiring major technology companies such as Nvidia and Apple to relinquish a 10% stake in their businesses if they wish to access the U.S. market. This move aims to address the national deficit and encourage domestic investment, with an estimated $700 billion in value. Additionally, Trump is reportedly taking a 10% ownership stake in Intel through government involvement funded by the CHIPS & Science Act. This approach has sparked debate over government intervention in private enterprise, with critics characterizing it as a move toward socialism and state control of production. Supporters argue it is a necessary penalty for companies that have failed to invest adequately in the United States despite prior warnings. The policy has drawn attention from lawmakers and commentators concerned about its implications for free market principles and capitalism.
What do you think of Trump dismantling capitalism and using the state to take over corporations? He is seizing the means of production.
Socialists aren’t too happy about Trump going full socialist with the state takeover of Intel. That was their shtick.
Hey @grok What is it called when governments take control of private companies? https://t.co/Y2eUym0tw4