What's the Story of the Cryptocurrency Bubble?

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I think very early on, it was clear that this was less so about transforming the world in this very positive way. The kind of criticism of it and the very obvious problems with it were so apparent right from the beginning. And I think there's something that money does that it just like works the there's a sort of reality distortion field around that. You can choose theoretically what products you want to build but at the end of the day your choices are larger than anything else.

Paris Marx is joined by Wendy Liu to discuss what it was like to work in tech in the 2010s and why structural changes in the industry are empowering an increasingly reactionary capitalist class to strike back at workers and upend the expectations of the boom period.

Wendy Liu is a writer and the author of Abolish Silicon Valley: How to Liberate Technology from Capitalism. You can follow her on Twitter at @dellsystem.

Tech Won’t Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Follow the podcast (@techwontsaveus) and host Paris Marx (@parismarx) on Twitter, and support the show on Patreon.

The podcast is produced by Eric Wickham and part of the Harbinger Media Network.

Also mentioned in this episode:

Casey Newton and Zoe Schiffer wrote about how tech CEOs are inspired by what Musk is doing at Twitter
Mel Krantzler and Patricia Krantzler wrote Down and Out in Silicon Valley: The High Cost of the High-tech Dream
Jacob Silverman wrote about David Sacks and the reactionary turn of tech billionaires
Paris wrote about how longtermism is designed to justify the position of billionaires in society
Julia Black wrote about the embrace of pronatalism within the tech industry

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