Sam Seder
@TheMajorityReport·2M subscribers·30.1K videos
We Should've Been A Lot More Mad About This
Posted
April 10, 2024
Views
33,652
Likes
1,331
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142
Engagement
4.38%
April 10, 2024
33,652
1,331
142
4.38%
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13:28Now PlayingLive-streamed on April 1, 2024
Yanis Varoufakis, economics professor and former Finance Minister of Greece, discusses his recent book Technofeudalism: What Killed Capitalism.
Professor Varoufakis explores the role of these platforms’ ownership of the means of behavioral modification (via the extraction of data, once again, not produced by them) as an example of what he calls “cloud capital,” which takes up massive proportions of the global GDP and siphons it off from the labor market, before stepping back to analyze the role of the 2008 financial crisis and the commitment to the neoliberal dynamic of austerity for the people, socialism for the banks, in allowing the private world to funnel massive amounts of investment into cloud capital and allow existing companies (Meta, Google, Amazon, etc) to establish these digital fiefdoms.
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