r/technology • u/marketrent • 1d ago

Site altered title “ALL HAIL CHAIRMAN TRUMP! WITH HIS GLORIOUS 10% PURCHASE OF INTEL, THE SOCIALIST REPUBLIC OF AMERICA ENTERS A BOLD NEW ERA” -- California governor Newsom riles Republicans with Trump-trolling posts

https://www.barrons.com/news/meme-lord-newsom-riles-republicans-with-trump-trolling-posts-05b74794
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u/smiffer67 1d ago

Didn't trump extort the 10% out of Intel? I'm sure I read him gloating that he didn't pay anything for them.

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u/bdbr 1d ago

He (and the government) didn't pay anything - the money going to Intel was approved as a grant in the CHIPS act during the Biden administration. Basically Intel is being forced to give away stock "in exchange" for money that Congress already approved.

And the money the CHIPs act gave to TSMC and other foreign companies? Crickets on those.

I'd be surprised if Trump isn't somehow personally profiting off this, as well.

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u/xrmb 1d ago

I was wondering how he paid for the 10%. This is basically extortion for something approved under Biden, he just added his illegal touch to it and took full credit?

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u/No-Highway-7057 1d ago

Who cares lmao they have been sucking from the government’s titty for years now. Read about it literally anywhere. 10% honestly ain’t even enough, gov has given them so much money.

Chips and science grants - 7.9 billion

Secure Enclave - 3 billion

Those two alone are more than the 9 billion equity stake

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u/nan1961 1d ago

So, we can expect the government to take over farmers soon!!

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u/werewere123 1d ago edited 22h ago

I actually kinda think they should.

Agriculture and a solid food supply is incredibly important to the health of a nation. Food production is an essential industry. It's too important and too volatile to be left to individuals and corporation. The Department of Agriculture should be in charge of all farms and hire farms managers to operate them. They get a steady salary and budget with never having to worry about corp failures or storms putting them in a mountain of debt.

I feel this way about any essential service or industry. If society literally cannot function without it, and the barrier to entry is prohibitive for competition, the state has a duty and responsibility to intervene directly.

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u/free-crude-oil 1d ago

PRAISE BE TO THE SOCIALIST REPUBLIC OF AMERICA!

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u/SaucyOcto 1d ago

This is what regulatory agencies are for! Gives the government a seat at the table without all the baggage/risk of ownership.