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/telthetruth 1d ago

It’s fucking fascism. An authoritarian government is taking stake in a company to ensure it functions for their benefit.

Socialism implies that the government will take control of a utility to become a public service to benefit all. Intel is not a public fuckin utility and this will benefit no one outside of the oligarchy.

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u/SimoneNonvelodico 1d ago

It’s fucking fascism. An authoritarian government is taking stake in a company to ensure it functions for their benefit.

The specific reason why this government is doing is of course sus, but I don't think "owning strategically vital industries" is such a bad thing for states to do, even from a left wing perspective. It means there's potentially more accountability and political control over things that are important for the country to keep functioning even in time of crisis - which can be democratic accountability if the country's democracy is healthy (which is not in this case, but different story).

Saying that chips aren't vital in this day is delusional.

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u/Immabed 1d ago

If this investment keeps Intel from toppling it absolutely does serve everyone, at least everyone who ever buys a computer. If Intel topples we lose global competition in CPU's and TSMC becomes the only place to go for cutting edge semi-conductor fabrication. That causes CPU stagnation and jacks up prices, at least if we look at historical examples.

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u/magnoliasmanor 1d ago

Intel was not going under though. This isn't GM in 2008.

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u/Immabed 18h ago

Intel is on a trajectory to sell off it's foundry business.

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u/randylush 1d ago

Eh… the US government owning a stake in Intel is a poor investment, but come on, it’s not fascism lol

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u/gmes78 1d ago

By itself, no, it isn't.

In context, however, it's yet another similarity to fascist governments of the past.