I feel like as the venture capital model has kind of taken hold, what we've seen is governments stepping back from public investment and expecting the private market to do more. I also wanted to pick up on what you said about the herd mentality, right? Because I feel like this is something that we see a lot. The Silicon Valley Bank collapse earlier this year was another example of how there's these really kind of insular networks where the information travels very quickly. That can have massive impacts on the wider economy.
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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