On February 20th, Rep. Ro Khanna delivered a speech at Stanford University, addressing over 1,600 students alongside Senator Bernie Sanders. Their discussion focused on major contemporary issues such as economic inequality and artificial intelligence (AI), drawing parallels to the historical context of wealth concentration in the United States. Khanna emphasized the urgent need to establish a new tech social contract, proposing seven fundamental principles aimed at democratizing AI and reducing the monopolistic control exerted by a handful of tech billionaires.

Khanna's remarks reflect a growing concern regarding the concentration of wealth and power in Silicon Valley, likening the current situation to a modern Gilded Age. He pointed out that many Americans feel disenfranchised and hopeless as a result of these disparities, which fuels resentment and cynicism. By highlighting the substantial evidence provided by economists like Professor Gabriel Zucman, Khanna argued that wealth concentration is at an unprecedented level in U.S. history, with a mere 19 billionaires controlling a vast portion of the nation's wealth.

The implications of Khanna's vision for a new social contract could resonate widely across various sectors, influencing how AI technologies are developed and implemented. By advocating for a more inclusive approach, he hopes not just to reclaim AI from the billionaires but to fundamentally shift the balance of power back to the people, ensuring that advancements in technology benefit the broader society rather than just the elite few. This call to action might stimulate ongoing debates about regulation, equity, and the role of technology in modern democracy.