An anonymous reader quotes a report from the New York Times: Meta is preparing to spend $65 million this year to boost state politicians who are friendly to the artificial intelligence industry, beginning this week in Texas and Illinois, according to company representatives. The sum is the biggest election investment by Meta, which owns Facebook, Instagram and WhatsApp. The company was previously cautious about campaign engagements, making small donations out of a corporate political action committee and contributing to presidential inaugurations. It also let executives like Sheryl Sandberg, who was chief operating officer, support candidates in their personal capacities.
Now Meta is betting bigger on politics, driven by concerns over the regulatory threat to the artificial intelligence industry as it aims to beat back legislation in states that it fears could inhibit A.I. development, company representatives said. To do that, Meta is quietly starting two new super PACs, according to federal filings surfaced by The New York Times. One group, Forge the Future Project, is backing Republicans. Another, Making Our Tomorrow, is backing Democrats. The new PACs join two others already started by Meta, one of which is focused on California while the other is an umbrella organization that finances the company's spending in other states. In total, the four super PACs have an initial budget of $65 million, according to federal and state filings. Meta's spending is set to start this week in Illinois and Texas, where the company generally favors backing Democratic and Republican incumbents or engaging in open races rather than deposing existing officials, company representatives said in interviews.
[...] Last year, Meta's public policy vice president, Brian Rice, said the company would start spending in politics because of "inconsistent regulations that threaten homegrown innovation and investments in A.I." The company started its first two super PACs, American Technology Excellence Project and Mobilizing Economic Transformation Across California. Meta put $45 million into American Technology Excellence Project in September. That money is expected, in turn, to flow to Forge the Future Project, Making Our Tomorrow and potentially to other entities. [...] In California, which has some of the country's most onerous campaign-finance disclosures, Meta in August put $20 million into Mobilizing Economic Transformation Across California, which shortens to META California. State laws require the sponsoring company to be disclosed in the name of the entity. In December, Meta put $5 million into another California committee called California Leads, which is focused on promoting moderate business policy and not A.I., according to state records.
Now Meta is betting bigger on politics, driven by concerns over the regulatory threat to the artificial intelligence industry as it aims to beat back legislation in states that it fears could inhibit A.I. development, company representatives said. To do that, Meta is quietly starting two new super PACs, according to federal filings surfaced by The New York Times. One group, Forge the Future Project, is backing Republicans. Another, Making Our Tomorrow, is backing Democrats. The new PACs join two others already started by Meta, one of which is focused on California while the other is an umbrella organization that finances the company's spending in other states. In total, the four super PACs have an initial budget of $65 million, according to federal and state filings. Meta's spending is set to start this week in Illinois and Texas, where the company generally favors backing Democratic and Republican incumbents or engaging in open races rather than deposing existing officials, company representatives said in interviews.
[...] Last year, Meta's public policy vice president, Brian Rice, said the company would start spending in politics because of "inconsistent regulations that threaten homegrown innovation and investments in A.I." The company started its first two super PACs, American Technology Excellence Project and Mobilizing Economic Transformation Across California. Meta put $45 million into American Technology Excellence Project in September. That money is expected, in turn, to flow to Forge the Future Project, Making Our Tomorrow and potentially to other entities. [...] In California, which has some of the country's most onerous campaign-finance disclosures, Meta in August put $20 million into Mobilizing Economic Transformation Across California, which shortens to META California. State laws require the sponsoring company to be disclosed in the name of the entity. In December, Meta put $5 million into another California committee called California Leads, which is focused on promoting moderate business policy and not A.I., according to state records.
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