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Joined 2 years ago
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Cake day: July 9th, 2023

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  • I see your confusion. They could have worded this better, but it’s two grants being split between eight nonprofit financial institutions. My understanding is these entities will lend that money to communities to do ongoing infrastructure projects. The goal is “turning $20 billion of public funds into $150 billion of public and private investment to maximize the impact of public funds.” I don’t know how that part works exactly, but to me that doesn’t sound like a handout. Of course I would hope they would be held responsible for any mismanagement.

    As for why they need to create a financial nework to do this: These kinds of projects can take many years and sometimes need ongoing financing. Apparently, when Obama tried to fund something like this, there was a lending bottleneck where I guess banks didn’t want to finance community infrastructure projects or something, so a lot of the funding just sat there until the grants expired. This is supposed to prevent that from happening.









  • If they know how many years they’ll hold the rights, that information should be given to the consumer, i.e., “you will have access to this media product for at least N years.” Then the consumer can make an informed decision (is $24.99 worth it to own a movie for 6 years? Etc). Otherwise it’s just a gamble. Everything else you can rent (cars, tools, equipment, venues, clothing, dumpsters) comes with very clear temporal terms. Imagine if rental car companies could remotely brick your rental car halfway through your vacation.