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According to Steve Eisman, the goal of AI companies is to spread doomsday scenarios
The investor who predicted the 2008 crisis, Steve Eisman, claims that OpenAI and Anthropic deliberately spread apocalyptic narratives in order to generate regulation and create a favorable market position. According to his view, the companies create crises and then profit from government intervention.
Steve Eisman, who became known as a predictor of the 2008 financial crisis, said on CNBC that AI companies intentionally spread doomsday scenarios. He believes this is a strategic move aimed at generating regulation, which they then shape to their own advantage.
Eisman says that the token-maxxing strategy surrounding OpenAI and Anthropic – where developers generate a lot of AI usage but not necessarily efficiently – puts financial pressure on the companies. Executives are therefore anxious because if users start paying attention to costs, business could collapse quickly.
The investor also highlighted that large AI firms publicly called for a joint and coordinated slowdown of developments. If the government properly regulated the market, he believes a duopoly could emerge that would benefit the companies.
According to Eisman, the purpose of generating crises and influencing regulation is to give AI companies an advantage. The investor reduced his AI investments because he thinks that if they truly worried about product risks, they would take other steps.