Yanis Varoufakis appeared on the Keen On podcast with Andrew Keen to talk about his new book, Technofeudalism: What Killed Capitalism. It is an interesting conversation but I found an answer that Varoufakis gave to be bleak when thinking of how society is structured around these digital platforms. When he speaks of digital fiefdoms, he means platforms like Amazon and Facebook.
Within the digital fiefdoms of the 21st century, you are not even a subject. You are certainly not a citizen but you're not even a subject. You are only a resource and an asset to be stripped by the owner. In other words, you have even fewer rights under technofeudalism that you would have had under feudalism. At least under feudalism you could petition your lord and be heard occasionally. Today, this is simply impossible. You enter one of these digital fiefdoms and the algorithm, on behalf of the owner, is matching you to individuals whether they are sellers or other users in a manner which maximizes the rent extractive capacity of the owner of the algorithm. And that's it. You are not a citizen. You are not a subject. You are little bit like in The Matrix, the movie, humans who had been turned into batteries or solar panels providing energy and heat to the system. In this case, the system being cloud capital.
What killed capitalism? Yanis Varoufakis' murder mystery about the death of capitalism and our descent into "techno feudalism"
