Years ago, when people asked Geoffrey Hinton why he worked on artificial intelligence, he would repeat a line from J. Robert Oppenheimer, one of the creators of the atomic bomb: “When you see something that is technically sweet, you go ahead and do it.”
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Kemi Badenoch has said a "red warning light" is flashing on the economy as Britain's debt tops £3 trillion for the first time and inflation surges to 3.5% ahead of the Budget next week.
The post Badenoch Warns of “Red Warning Light” on Economy as UK Debt Tops £3 Trillion and Inflation Surges to 3.5% Ahead of Budget appeared first on The Daily Sceptic.
Consumer prices rise by more than expected while government’s debt interest payments surge to record high for September
Inflation surged to 3.5% last month while the government deficit was a worse-than-forecast £24.5bn, in a double dose of bad news for John Healey before next week’s budget.
The Office for National Statistics said annual inflation rose from 3.1% in August, overshooting City forecasts of a rise in the consumer prices index (CPI) to 3.4%, as a result of the surging cost of fuel.
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© Photograph: Bryn Colton/Getty Images
© Photograph: Bryn Colton/Getty Images
© Photograph: Bryn Colton/Getty Images
Elon Musk has contributed more than $276 million since July to Republican political causes ahead of the United States midterm elections on 3 November. Meanwhile, US Secretary of State Marco Rubio has said decisions over Ukraine’s access to SpaceX satellite communications rest with the company rather than the White House. Both developments demonstrate how private technological and financial resources can influence decisions traditionally associated with government.
For journalist Gil Durán, author of The Nerd Reich: Silicon Valley Fascism and the War on Democracy, published by Avid Reader Press in August 2026, the issue extends beyond campaign donations. In a recent interview, he argued that a group of Silicon Valley investors is using its financial influence and control of technology to challenge the authority of elected governments.
“We’re at a decisive stage of that race,” Durán said when asked about the contest between technology and democracy described by venture capitalist Peter Thiel. His argument is that wealth alone no longer satisfies some of the industry’s most influential figures; they also want a direct role in determining how societies are governed.
Durán places Thiel at the centre of this movement. In a 2009 essay, The Education of a Libertarian, the PayPal co-founder wrote that he no longer believed freedom and democracy were compatible. He argued that technological innovation could allow individuals to escape the constraints of conventional politics.
Thiel subsequently clarified that he was not advocating disenfranchisement. His stated position was that majority rule often frustrated individual liberty. Durán, however, interprets the essay and Thiel’s subsequent political investments as evidence of a sustained interest in diminishing democratic constraints on private power.
The book also examines The Sovereign Individual, a 1997 work by James Dale Davidson and William Rees-Mogg that anticipated how digital currencies and technological change might weaken the power of nation states. Durán sees its influence in later arguments for privately organised alternatives to traditional government.
One example is The Network State, developed by entrepreneur Balaji Srinivasan. It proposes that online communities could acquire territory and eventually obtain diplomatic recognition. Advocates describe a voluntary model of political organisation; Durán regards the prospect of corporate-financed jurisdictions as a challenge to public accountability.
The relationship between Thiel and Vice-President JD Vance illustrates how venture capital can translate into political influence. Thiel supported Vance’s early investment career and contributed $15 million to a super PAC backing his successful 2022 Senate bid. Durán attributes much of Vance’s political ascent to that support, although voters, party endorsements and Vance’s own campaigning also shaped the result.
Musk’s latest contributions offer a more immediate example. His donations since July include $158 million to the Senate Leadership Fund and more than $76 million to America PAC. Such spending is lawful under the rules governing independent political committees, which cannot coordinate their expenditure with candidates.
Durán contends that similar pressures affect Democrats, arguing that wealthy donors can exercise influence across party lines. His criticism therefore concerns the political system’s dependence on private funding as much as any particular administration.
The consequences extend beyond elections. Ukraine’s dependence on satellite communications has exposed how a privately owned service can become essential to military operations. Restrictions affecting Starlink-related services have prompted competing accounts from US officials and SpaceX over responsibility for the decision. Rubio’s latest remarks point towards commercial control, while earlier reporting attributed the decision to Washington.
Artificial intelligence raises comparable questions of ownership and oversight. Durán argues that investors promoting transformative AI may also seek regulatory conditions that protect their substantial financial commitments. His prediction of a possible investment bubble remains a judgement, not an established outcome.
In Europe, the debate has immediate regulatory consequences. The EU’s Digital Services Act requires major online platforms to assess risks to elections and civic debate, while enforcement of important provisions of the AI Act began in August 2026. These measures address the influence of companies whose platforms and systems operate across borders.
Durán’s interpretation of Silicon Valley as a coherent anti-democratic movement remains contested. The entrepreneurs he discusses have differing interests, and their political influence does not itself establish a common plan to dismantle democratic government.
Their influence is nevertheless measurable in campaign finances, government contracts and control over infrastructure essential to national security. None of these forms of power requires holding elected office.
Government paid £10.9bn in debt interest, the highest September figure since records began
The Treasury ran a higher than expected budget deficit of £24.5bn last month as rising inflation pushed up the interest paid on government debt, increasing pressure on John Healey before his budget next week.
Official figures show the government paid £10.9bn in debt interest: the highest September figure since records began, and only the eighth time the monthly number has been above £10bn.
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© Photograph: Kirsty O’Connor/Treasury
© Photograph: Kirsty O’Connor/Treasury
© Photograph: Kirsty O’Connor/Treasury
WASHINGTON—President Donald Trump on Tuesday unveiled an incentive program that gives fraud whistleblowers a one percent commission on funds recovered from fraudsters.
The post Trump Announces Fraud Reporting Incentive Program Where Whistleblowers Get 1% Commission appeared first on Breitbart.
Centers for Medicare and Medicaid Services (CMS) Administrator Dr. Mehmet Oz said fraudsters in Minnesota bribed mothers roughly $1,500 per child to falsely claim their children were autistic, saddling the children with diagnoses they did not have.
The post Oz Says Minnesota Fraudsters Bribed Moms $1,500 to Fake Autism Diagnoses appeared first on Breitbart.
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