Source: https://x.com/linamkhan/status/2099204390548639960 (seems like a single post, so you don't need to log in and see replies)

I can't tell if Khan is being realistic when she says laws against “unfair or deceptive [acts]” or “unfair methods of competition” apply to AI labs. Her 2-sentence justifications aren't enough to convince me. But maybe it's sufficient for state AG's who want to start investigations.

The passage banning “unfair competition” is utterly marvellous:

    A trader may not, by pursuing a dishonest practice, force his competitors to choose between its adoption or the loss of their trade. A method of competition [is ‘unfair’ when it] casts upon one's competitors the burden of the loss of business unless they will descend to a practice which they are under a powerful moral compulsion not to adopt, even though it is not criminal… 

    It is true that the statute does not authorize regulation which has no purpose other than that of relieving merchants from troublesome competition …  But here the competitive method is shown to exploit [those] who are unable to protect themselves. It employs a device [that has] met with condemnation throughout the community. Without inquiring whether [other criminal statues apply] … it is clear that the practice is of the sort which the common law and criminal statutes have long deemed contrary to public policy. For these reasons a large share of the industry holds out against the device, despite ensuing loss in trade, or bows reluctantly to what it brands unscrupulous. It would seem a gross perversion of the normal meaning of the word … to hold that the method is not 'unfair.'

Apply it immediately!

It won’t happen, but if it did the CEOs have no one but themselves to blame. They’re hyping up their products as being able to destroy the human race then are somehow surprised at the level of anti-AI sentiment out there in the world.

Aaron Swartz was facing up to 35 years for wire fraud and hacking for swiping some JSTOR documents, and the DOJ has done nothing against the AI companies and their IP violating antics.

It’s definitely happening in 2029 if the election goes a certain way. They all know that too.

There WILL be an end to this.

AI is a very competitive market where consumers are getting the product for much less than it costs. This does not seem like an area where the government needs to butt in.

Attention would be better spent on long list of other poorly behaved companies: cable ISP monopolies, health insurance companies, home insurance companies, etc.