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Hera Hyeonseo Lee

Hera Hyeonseo Lee is a doctoral researcher in sociology at Binghamton University (SUNY). Her research examines the political economy of AI infrastructure, focusing on the financial structures underpinning cloud computing markets and their implications for public policy. She recently submitted a public comment to the DOJ and FTC on competitor collaboration guidelines as they relate to AI industry financial architectures (Docket No. ATR-2026-0001).
Big Tech

How a 2016 Accounting Rule Fueled Big Tech’s Investments in AI Startups

Hera Hyeonseo Lee
An accounting rule introduced by the Financial Accounting Standards Board in 2016 was designed to address a flaw in the previous regime that contributed to the 2008 Financial Crisis. However, this same rule is enabling the circuit of investments that flows from Big Tech companies to artificial intelligence startups, whose increased valuation from these investments increases the value of the Big Tech companies, which they can then reinvest in the AI startups. The risk is an AI bubble that, if it pops, will also blow up Americans’ savings, writes Hera Hyeonseo Lee.
Antitrust and Competition

Your 401(k) Is Propping Up the AI Bubble

Hera Hyeonseo Lee
Americans’ retirement savings are disproportionately tied to the dozen Big Tech firms that now dominate the S&P. This makes any intervention into regulating Big Tech that risks devaluing them politically difficult, writes Hera Hyeonseo Lee.

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