American Big Tech Has Enslaved Us | Yanis Varoufakis

[_NOBODY_]

American Big Tech Has Enslaved Us | Yanis Varoufakis

In his new book, ‘Technofeudalism: What Killed Capitalism’, Yanis Varoufakis explores how giant tech firms, both in the US and China are expanding their control over the planet. His analysis is that, whilst material resources certainly matter, the real battle ground is over digital real estate. Aaron sat down with Yanis to talk about how Europe’s power has faded, Elon Musk’s wet dreams and why the US is really afraid of China.

Technofeudalism is available on Penguin Books.

@Foinikas @Dalit Please watch this highly insightful podcast. It hurts my soul that I can't buy his book, Technofeudalism: What Killed Capitalism in Pakistan.

 

[Foinikas]

I'll disappoint you. I don't like Varoufakis actually. He's one those rich guys who self-identify as "marxists" and "communists".

 

[LeGenD]

Europe has given so much technology to China and now Europe is complaining? More like China has outplayed Europe by buying European tech and using it to develop cost-effective or more capable solutions in time and push for their adoption. Now China has many customers. China has marketing edge.

 

[epebble]

I'll disappoint you. I don't like Varoufakis actually. He's one those rich guys who self-identify as "marxists" and "communists".

So, some of these guys think because they have Greek names, they are automatically philosophers and can expound on anything. I don't know what his 'enslavement' means. I don't use Facebook or Instagram or TikTok. Am I enslaved too?

 

[Foinikas]

So, some of these guys think because they have Greek names, they are automatically philosophers and can expound on anything. I don't know what his 'enslavement' means. I don't use Facebook or Instagram or TikTok. Am I enslaved too?

This guy Varoufakis,he had a total income of about 457,000 Euros in 2017 and his wife about 840,000 Euros. He and his wife own 10 real estates,5 motorcycles,2 cars and a boat. He has two bank accounts in Switzerland.

At the same time,he used to say "I'm a liberal marxist and communist". He would use the term "comrade". In the last election "debates" he had some weird plans for Green energy investments. When asked about foreign policy and specifically Turkey,he simply avoided the question by saying irrelevant stuff.

Here's an awkward part during the capital controls period of the economic crisis in Greece. Some context: At that point,Greeks could only withdraw 60 euros per day from the ATM. Everyone was frustrated.People would queue at ATMs every night.

 

[epebble]

This guy Varoufakis,he had a total income of about 457,000 Euros in 2017 and his wife about 840,000 Euros. He and his wife own 10 real estates,5 motorcycles,2 cars and a boat. He has two bank accounts in Switzerland.

At the same time,he used to say "I'm a liberal marxist and communist". He would use the term "comrade". In the last election "debates" he had some weird plans for Green energy investments. When asked about foreign policy and specifically Turkey,he simply avoided the question by saying irrelevant stuff.

Here's an awkward part during the capital controls period of the economic crisis in Greece. Some context: At that point,Greeks could only withdraw 60 euros per day from the ATM. Everyone was frustrated.People would queue at ATMs every night.

Yup, Orthodoxy and Hypocrisy go Hand in Hand, at times. Who would have thought Catholic church would have the biggest crisis with child abuse problem? Many closet gay politicians were at the forefront of anti-gay policy making. Many Mullahs are child sex exploiters.

 

[Foinikas]

Yup, Orthodoxy and Hypocrisy go Hand in Hand, at times.

What does that have to do with Orthodoxy? Varoufakis is a leftist atheist or agnostic.

 

[epebble]

What does that have to do with Orthodoxy? Varoufakis is a leftist atheist or agnostic.

Orthodoxy here means people having strong beliefs in some philosophy, Not Orthodox Christianity.

 

[Foinikas]

Orthodoxy here means people having strong beliefs in some philosophy, Not Orthodox Christianity.

Ah sorry,my bad. I thought it might be that for a sec,but just making sure.

 

[epebble]

Ah sorry,my bad. I thought it might be that for a sec,but just making sure.

'Orthodox' when used alone (without Christianity), has simply become a word for traditional. For example, you can say gay or lesbian marriage is 'unorthodox', without referencing any religion.

 

[_NOBODY_]

So, some of these guys think because they have Greek names, they are automatically philosophers and can expound on anything. I don't know what his 'enslavement' means. I don't use Facebook or Instagram or TikTok. Am I enslaved too?

Varoufakis's argument is that Big Tech companies have created a system of techno-feudalism in which they are the new lords and masters, and we are the serfs. We are enslaved to them because we rely on their digital infrastructure for our basic needs and desires.

According to understanding, by techno-feudalism, Varoufakis mainly refers to these three points:

1. The concentration of power in the hands of a small number of Big Tech companies. These companies control the digital infrastructure that we rely on for work, communication, and entertainment.
2. The extraction of rents from users and businesses alike. Big Tech companies use their monopoly power to charge exorbitant fees and take a large cut of profits.
3. The stifling of competition and innovation. Big Tech companies use their power to crush rivals and copy potential competitors.

This has resulted in the creation of a new class of digital serfs. These are people who are dependent on Big Tech companies for their livelihoods, but who have little power or control over their own work. I hope this clears things up.

I'll disappoint you. I don't like Varoufakis actually. He's one those rich guys who self-identify as "marxists" and "communists".

That's irrelevant here. His political beliefs mean nothing to me. What matters is his argument on this particular topic. Do you disagree with what he is saying here? If yes, then kindly explain your reasoning. I incline more towards capitalism but this doesn't mean that I shouldn't listen to well-respected anti-capitalism voices. It's extremely important to listen to logical critiques of the ideas that you support.

Europe has given so much technology to China and now Europe is complaining? More like China has outplayed Europe by buying European tech and using it to develop cost-effective or more capable solutions in time and push for their adoption. Now China has many customers. China has marketing edge.

Giving technology to China is no excuse for stagnation. European countries should be technologically on par with the US. European big tech corporations are a joke compared to their American and Chinese counterparts.

 

[epebble]

Varoufakis's argument is that Big Tech companies have created a system of techno-feudalism in which they are the new lords and masters, and we are the serfs. We are enslaved to them because we rely on their digital infrastructure for our basic needs and desires.

According to understanding, by techno-feudalism, Varoufakis mainly refers to these three points:

1. The concentration of power in the hands of a small number of Big Tech companies. These companies control the digital infrastructure that we rely on for work, communication, and entertainment.
2. The extraction of rents from users and businesses alike. Big Tech companies use their monopoly power to charge exorbitant fees and take a large cut of profits.
3. The stifling of competition and innovation. Big Tech companies use their power to crush rivals and copy potential competitors.

This has resulted in the creation of a new class of digital serfs. These are people who are dependent on Big Tech companies for their livelihoods, but who have little power or control over their own work. I hope this clears things up.

He seems a bit young to me. I know what 'We are enslaved to them because we rely on their digital infrastructure' means. I very well remember the monopoly days of Bell System when I used to pay an arm and a leg for phone calls. Something like 25 cents or 35 cents per minute for calls within U.S. It was $1 and up per minute for international calls (all 1980s money, when $1,000 per month was good entry level salary). Today, most people make national and international video calls for free. People were leasing telecom equipment at huge cost because Bell System was a monopoly, and they wouldn't allow anyone else to make equipment for the 'safety' of the network. People were paying $20 - $30 per month in the 1980s for leasing a phone. An audio modem, ranging from 300 baud to 9600 baud used to cost hundreds to thousands of dollars per month. IBM mainframe leases were 100,000 to a million per year.

Well, I looked up. https://en.wikipedia.org/wiki/Yanis_Varoufakis is not that young at 62. So, he is more of an ignorant twit than a greenhorn.

 

[Foinikas]

Varoufakis's argument is that Big Tech companies have created a system of techno-feudalism in which they are the new lords and masters, and we are the serfs. We are enslaved to them because we rely on their digital infrastructure for our basic needs and desires.

According to understanding, by techno-feudalism, Varoufakis mainly refers to these three points:

1. The concentration of power in the hands of a small number of Big Tech companies. These companies control the digital infrastructure that we rely on for work, communication, and entertainment.
2. The extraction of rents from users and businesses alike. Big Tech companies use their monopoly power to charge exorbitant fees and take a large cut of profits.
3. The stifling of competition and innovation. Big Tech companies use their power to crush rivals and copy potential competitors.

This has resulted in the creation of a new class of digital serfs. These are people who are dependent on Big Tech companies for their livelihoods, but who have little power or control over their own work. I hope this clears things up.

That's irrelevant here. His political beliefs mean nothing to me. What matters is his argument on this particular topic. Do you disagree with what he is saying here? If yes, then kindly explain your reasoning. I incline more towards capitalism but this doesn't mean that I shouldn't listen to well-respected anti-capitalism voices. It's extremely important to listen to logical critiques of the ideas that you support.

I'm against big corporations buying out or extorting smaller companies,I've been seeing "merges" and buyouts for years. They should be checked and regulated. I don't know about the term "digital serfs",it sounds weird and not sure it actually really exists on all levels of society,but yes I guess I agree that such corporations need to be reined.

And it's not just about tech companies,we've been seeing that in the entertainment industry as well. In the gaming industry as well,in maybe the food sector too. The aggressive takeover of smaller companies by big corporations.

 

[313ghazi]

So, some of these guys think because they have Greek names, they are automatically philosophers and can expound on anything. I don't know what his 'enslavement' means. I don't use Facebook or Instagram or TikTok. Am I enslaved too?

This is it. Until we opt in to use their tech and get consumed by it, we're not enslaved. However for many people they are so addicted, they can't opt out.

It's not just social media, it's online shopping (dominated by Amazon, Ebay), we all have smart phones running Andriod and/or Apple OS, they're tracking us with those - i think 90% of people have an email address, most have hotmail or gmail. How many services can you access nowadays without email?

It's not a bad thing, i love the digital world, but i think the dominance by a few big players, is getting dangerous, especially with censorship on social media and the addictive nature of social media. Have you tried tiktok? it's like crack!

 

[_NOBODY_]

This is it. Until we opt in to use their tech and get consumed by it, we're not enslaved. However for many people they are so addicted, they can't opt out.

It's not just social media, it's online shopping (dominated by Amazon, Ebay), we all have smart phones running Andriod and/or Apple OS, they're tracking us with those - i think 90% of people have an email address, most have hotmail or gmail. How many services can you access nowadays without email?

It's not a bad thing, i love the digital world, but i think the dominance by a few big players, is getting dangerous, especially with censorship on social media and the addictive nature of social media. Have you tried tiktok? it's like crack!

Most of these services are now considered a basic necessity in the developed world.