Techno-Feudalism

Exzellent piece of work, absolute surprise to see Varoufakis getting to the same conclusions as Cory Doctorow. What Cory calls enshittification leading to chokepoint capitalism, for Yannis is the mechanism leading to techno-feudalism. Brilliant and great insight.

However: how to get out of it remains absolutely unclear

Late-stage capitalism has given way to cloud-based fiefs, and we are the serfs. I need convincing on some of the detail (e.g. how effective are they at manipulating our desires?), but mostly agree with his main argument. Pairs well with Cory Doctorow's #enshittification ideas (@pluralistic@mamot.fr).

This was a fascinating read. Essentially Varoufakis argues that capitalism is actually over, and that we are now in an era where rent derived from "digital fiefs" is dominant (e.g.: Amazon doesn't produce goods or acquire capital in the tratitional sense, but because no seller can survive without selling on Amazon, it operates like a fief extracting rent from the vassals (sellers) who have no option but to use their site). It's pretty heavy economic theory, but he frames it as a conversation with his late father, and does a good job at simplifying and explaining what he talks about.

Very interesting, and very convincing.