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When the AI Bubble Bursts, Big Tech Will Be Scarier Than Ever

The AI bust will be a crucial moment in the history of capitalism. Big tech is organised enough to benefit from the concentration of power that will follow – we need to get organised enough to resist.

Grace Blakeley's avatar
Grace Blakeley
Oct 07, 2026
∙ Paid
OpenAI chief executive Sam Altman said that ‘bad things’ were a price worth paying for the benefits of AI. Photo by Heather Diehl/Getty Images

Sam Altman thinks the rest of us should learn to live with “bad things”. In a recent interview, the OpenAI chief executive said that hacks, scams and other harms were a price worth paying for the benefits of AI. His remarks come after Anthropic chief executive Dario Amodei called for AI companies to slow the development of the technology for the good of humanity. Men like Altman and Amodei have an incentive to talk up the risks of their models, as well as the benefits, because doing so feeds the AI hype machine. They want us to worry about the power of the technology itself so we don’t ask too many questions about the power of the companies that control it.

You don’t have to believe all the hype around AI to recognise that we are witnessing the emergence of a set of technologies that will transform capitalist production.

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