The Effect of Parasites on the Economy

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I love your approach of positioning them as parasites, especially when you kind of describe it as what is happening to the host body. But I think that the example that you give of Silicon Valley Bank also shows us something else that has been happening in particular. And they have kind of created a self conception of themselves as these really important people who are doing this really important job and we need to hold them up on a pedestal because they are doing such important work. When we start to push back on that and when we start to say the reality of what they're actually doing, then there's not only this divide that happens in kind of their self image, but they react really negatively to that

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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