The Coming Wave: AI, Power, and Our Future

by Mustafa Suleyman

I think we’ll see a group of private corporations grow beyond the size and reach of many nation-states. Consider the outsized influence of a sprawling corporate empire like the Samsung Group in South Korea. Founded as a noodle shop almost a century ago, it became a major conglomerate after the Korean War. As Korean growth accelerated in the 1960s and 1970s, Samsung was at the heart of it, not only a diversified manufacturing powerhouse but a major player in banking and insurance. The Korean economic miracle was a Samsung-powered miracle. By this point Samsung was the leading chaebol, the name given to a small group of massive firms dominating the country. Smartphones, semiconductors, and TVs are Samsung specialties. But so too are life insurance, ferry operators, and theme parks. Careers at Samsung are enormously prized. Samsung Group revenue represents up to 20 percent of the Korean economy. For Koreans today, Samsung is almost like a parallel government, a constant presence throughout people’s lives.

Beyond Borders, Beyond Ballots: Corporations as Parallel States