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Are We Transitioning From Capitalism to Silicon Serfdom?::The idea that we are entering an era of techno-feudalism that will be worse than capitalism is chilling and controversial. We asked former Greek finance minister Yanis Varoufakis to elucidate this idea, explain how we got here, and map out some alternatives.
nah its still capitalism
…with crypto-locked bootloaders/ECMs/tractors to make sure none of the serfs threaten the king’s power with digital pitchforks.
But law could easily correct that… which means we’re still a democracy with heavy capitalist influence bordering into full blown serfdom, sure.
In capitalism, the core problem is power of business owners over employees. Tech giants hold incredible power over all of their consumers - aka the entire world.
The most famous billionaires are all tech giants like Zuck, Gates, Musk, Bezos. It’s because they are in the news all the time as they decide over everybody’s life now, despite not being elected.
YouTube, Insta, Tik Tok, Twitter, Facebook and friends are the main way political opinions are formed, especially for teenagers. That power should be in the hands of millions of teachers, activists and journalists, not a handful of billionaires.
Markets are supposed to keep capitalism in check. That doesn’t work so good but they seem to be even more ineffective in keeping the tech market in check, especially social media.