The Transformation from Capitalism to Techno-Feudalism

The podcast episode features an interview with Jannus Verufakis, discussing his latest book, 'Techno-Feudalism: The End of Capitalism.' Verufakis argues that capitalism has already ended and has been replaced by a technologically advanced version of Feudalism. He highlights the shift from markets to platforms like Amazon, which he describes as a digital fiefdom. Verufakis introduces the concept of 'cloud capital,' referring to the power and wealth accumulated by the owners of platforms such as Google and Amazon. He emphasizes that this new form of capital controls and modifies human behavior. Verufakis expresses concerns about the concentration of power and wealth in the hands of a few cloud lords, influencing public opinion and entrenching inequality. He calls for ending free services and implementing micro-payments as a way to redirect the power dynamics.