Ex-Google CEO Eric Schmidt compares OpenAI and Anthropic to colonial trading companies

eric schmidt, former google ceo, along with historian niall ferguson and researcher lisa klaassen, argue that openai and anthropic resemble colonial-era trading companies like the east india companies. they cite the us commerce department's order for anthropic to restrict access to its models from foreign nationals, and the companies' reliance on government support. the us and china are dominating the ai market, with strategies diverging: washington offers closed systems for political loyalty, while beijing gives away open-weight models to spread its standards. both face financial pressure from high investment and interest costs, with the us planning over $600 billion in ai investment in 2026.