Internet pioneers expected freedom and the wisdom of crowds, not that we would all be under the thumb of giant corporations profiting from a market in disinformation. We can still recover, but at least so far, Silicon Valley appears to be part of the problem more than it is part of the solution. Can we master the demons of our own design? The governance of AI is no simple task. It means rethinking deeply how we govern our companies, our markets and our society—not just managing a stand-alone new technology. It will be unbelievably hard—one of the greatest challenges of the twenty-first century—but it is also a tremendous opportunity.