The act of investing generates hype to sustain the frenzy until some large deflationary event happens. The goal there is to de-skill and then reduce the power of workers yet again, right? Because this is what they do. And if anyone has proven that you can lie your way to the top and keep getting away with it, it's Elon Musk, right? I think we should be viewing investments by like Andreessen Horowitz or Bicycoia into AI firms that are clearly bullshit as not just an attempt to make money off of the bullshitting," he says.
Paris Marx is joined by Edward Ongweso Jr. to discuss how the venture capital industry works, why the technologies it funds don’t deliver on their marketing promises, and how that’s once again being shown in the hype around AI.
Edward Ongweso Jr. is a freelance journalist, co-host of This Machine Kills, and guest columnist at The Nation. You can follow Ed on Twitter at @bigblackjacobin.
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.
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