How Technology Has Enabled Financialization and Speculativity

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Ober is a company that we both love to hate. Its entire goal, even though it talked about making taxis more convenient and what not, was really to de regulate cabs. It brought in the serge pricing, so you can never really depend on what the price of your ride is going to be. And now it's making agreements, like in new york city, with taxi companies that seems to be, at least to a certain degree, adding serge pricing to taxis now. In a similar way, you have these companies e commerce, but i'm sure, well, increasingly, start to see it in stores as well. The algarithmic trading in stock markets

Paris Marx is joined by Edward Ongweso Jr. to discuss Elon Musk’s Twitter acquisition, how technology is enabling an extension of speculation and gambling, and why those pressures need to be opposed.

Edward Ongweso Jr. is a staff writer at Motherboard/Vice and a co-host of This Machine Kills. Follow Edward on Twitter at @bigblackjacobin.

🎉 This month is the show’s second birthday. To celebrate, we want to get 100 new supporters at $5/month or above to bring on a producer to help make the show. Help us hit our goal by joining on Patreon. You can also follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter.

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Also mentioned in this episode:

Edward wrote about Elon Musk’s Twitter acquisition and the casino economy we increasingly find ourselves in.
Paris wrote about Elon’s Twitter purchase for Jacobin before it was confirmed, and Tribune afterward.
Max Read also wrote about the acquisition and what it might mean.
CNN spoke to meme stock traders who made a lot of money and the difficulty of what came after.
TrueAnon did a recently episode on mobile gambling.
Tim Hwang wrote “Subprime Attention Crisis: Advertising and the Time Bomb at the Heart of the Internet.”