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As perhaps the most consequential technology of our time, Generative Foundation Models (GFMs) present unprecedented challenges for democratic institutions. By allowing deception and de-contextualized information sharing at a previously unimaginable scale and pace, GFMs could undermine the foundations of democracy. At the same time, the investment scale required to develop the models and the race dynamics around that development threaten to enable concentrations of democratically unaccountable power (both public and private). This essay examines the twin threats of collapse and singularity occasioned by the rise of GFMs.