Editing Openai/6944461c-7f90-8000-8c32-54fe2958dd9a (section)

=== Assistant: Short answer: neither alone works. ===
Short answer: neither alone works.
Long answer: sequencing and power asymmetry decide everything.

Here’s the clean ledger view — no slogans, no mercy.

==== (“Let the state invest so it can redistribute later”) ====

===== - Capture upside =====
* Reinvest profits into the public
* Align infrastructure with long-term goals

===== - The state takes minority, non-controlling stakes =====
* Risk is public, control is private
* Profits are delayed, diluted, or routed elsewhere
* Political cycles force premature exits

Result:
👉 Socialized risk, privatized governance.

Governments are bad venture capitalists not because they’re stupid — but because they’re structurally impatient and legally constrained.

By the time profits arrive, the harm is already baked in.

==== (“Tax the winners, redistribute immediately”) ====

===== - Immediate redistribution =====
* Clear accountability
* No illusion of partnership

===== - Lobbying hollows out the levy =====
* Loopholes metastasize
* Taxes get framed as “anti-innovation”
* Enforcement lags reality by years

Result:
👉 Revenue exists on paper, not in effect.

Taxation without design-level enforcement becomes theater.

==== The core problem isn’t investment vs taxation. ====
It’s timing and leverage.

Once:
* infrastructure is built,
* dependency is locked in,
* jobs narratives are deployed,

the bargaining power is gone.

The state negotiates after surrender.

==== ### ====

Before deployment:
* mandatory profit-sharing formulas
* non-negotiable public dividend clauses
* hard caps on household cost pass-through
* transparency at the meter and the data center

No compliance → no license.

Not later. Before.

===== Tax: =====
* megawatt-hours consumed
* compute cycles
* peak load stress
* land + grid occupation

Why?
* Profits can be hidden
* Usage cannot

Electricity doesn’t lie.

===== Not companies. =====
Interfaces.
* Grid access
* Right-of-way
* Spectrum
* Data corridors
* Dispatch priority

Own the valve, not the engine.

===== No annual debates. =====
No discretionary programs.
* Direct bill credits
* Universal energy dividends
* Floor guarantees indexed to infrastructure growth

If the system scales, everyone feels it that month.

==== - Don’t rely on “future taxation” ====
* Don’t trust voluntary commitments
* Don’t confuse innovation with exemption
* Don’t let “jobs” narratives ransom the public

==== The state should not hope to redistribute later. ====
And companies should not promise to behave.

The rules must make extraction impossible without redistribution.

If benefits flow upward by default,
then redistribution must be architectural, not moral.

Otherwise you get exactly what we’re living through:
* higher bills
* higher profits
* higher rhetoric
* lower trust

Design beats intention.
Every time.