My biggest worry about the US setting up some sort of safeguards is just that I do not trust anyone in a position to do so to do a good job. Damned if you do, damned if you don't.
It all feels like rich and powerful people petitioning the state for more money and power. Any regulation with teeth will necessitate regulating open models, which will destroy competition and create another stagnant, cartel-esque duopoly.
Exactly. Even if you believe the industry should be regulated, the only thing worse than failure to regulate would be regulation by the senile, corrupt people in government today.
It's emblematic over the bizarro world we are living in that someone as informed as Bill Gates, no matter what you may think of his position positions, has to act like someone as uninformed and random as Trump is wrong and persuadable with facts.