Author here. Appreciate your thoughts and I mostly agree actually.

I'll explain more over the next few essays, but I am designing my proposed regulatory structures to try to accomplish 2 purposes in tension simultaneously like the Fed: 1. Maintain global competitiveness for frontier labs 2. Create a societal hedge against the AI bull case (AKA the economic black hole case)

A % of revenue scales in a way that I think balances the two well while avoiding all the other problems I mentioned in the essay. I’ll get into ratchets, timing, and thresholds in later essays, but I agree the China/competitiveness problem is central.