Hedge fund giant Bridgewater emerges as advocate for little guy in AI debate pushes taxes to boost citizen equity

The giant hedge fund Bridgewater Associates has emerged as an unlikely voice for the little guy in the AI debate, calling for protecting everyday Americans from the dangers of the technology — and spreading the wealth that tech giants are reaping from it.The firm founded by billionaire Ray Dalio — famous for the insular, secretive culture at its posh Connecticut headquarters — has held talks with Washington policymakers from both parties about proposals to avert an AI-driven job apocalypse, The Post has learned.Last month, Bridgewater’s chief investment officer Greg Jensen, CEO Nir Bar Dea and others published a lengthy essay that called for “immediate policy action” in order to realize the “full potential of artificial intelligence by mitigating the risks of widespread societal disruption and catastrophic safety accidents.”The concepts have caught the attention of lawmakers on Capitol Hill and have spurred informal talks with Bridgewater about the need to create “citizen equity” in the AI boom, a source told The Post.Among its proposals is a so-called “token tax” on AI usage.The revenue from a 35% tax could reach $600 billion by 2030 and could be used to acquire shares of AI giants and distribute them to members of the public, according to the paper.Bridgewater’s token tax contrasts with calls for “universal basic income” from tech luminaries including OpenAI CEO Sam Altman and SpaceX CEO Elon Musk – a form of social welfare where every citizen receives a set, recurring payment from the government.

In a Bridgewater Q&A, Jensen said UBI would hand too much control to the government.   “You’re still dependent on a bureaucrat deciding how much and when you get your check,” Jensen said.“If we actually distribute the equity to all citizens it once again takes the power away from the politicians to use that in ways that you might not want and it gets power directly to the citizens.”Jensen and Bar Dea wrote in the report ...