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Comment by web3-is-a-scam | Hacker News Reader

> At an event this week, OpenAI CFO Sarah Friar seemed to suggest that the government could act as a “backstop” for the company’s commitments

She said the quiet part out loud? This was always the play, it is obvious. Too big to fail. National security concerns. China/Russia veer scary. Blah blah blah.

Altman’s libertarian pontification is so obviously insincere it’s laughable.

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And David Sacks immediately responded with "there will be no government bailout":

https://www.cnbc.com/2025/11/06/trump-ai-sacks-federal-bailo...

Surely the government would never lie.

I love your username. Offtopic,I have complicated thoughts about crypto but I would genuinely agree that for a normal person like crypto is just scam.

I just have money in usdc and I might like monero for privacy sometimes but I guess I am just using it as a bank account right now with usdc

I would personally like it if visa/stripe etc. middleman's could be cut preferably, its honestly insane how we still can't figure that issue of middleman taking cuts etc.

Maybe the issue isn't technological but regulatory

But overall I agree that crypto/ especially the web3 mostly is a scam.

Yep, he saw the Mamdani win and Vance gave new marching orders on X by pretending to care about jobs, housing etc.

Sacks was one of the most prominent whiners on X asking for the bail out the Silicon Valley Bank. He is lying, just as the all-in podcast was lying before Trump's election and then dropped the masks.

David 'Crypto Bail-Out King' Sacks said.

Completely meaningless.

Yes, the whole play by OpenAI is to raise enormous amounts of money as quickly as possible from as many people and companies as they can. Their only real goal is to put themselves in a position as the "indispensable company" that is too big to fail and will bring every AI investment to its knees if not supported by the government.

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