The Econoclasts The AI bubble myth & the truth about Trump’s Venezuela attacks
23 snips
Dec 10, 2025 Yanis Varoufakis and Wolfgang Munchau delve into the concept of AI as a potential game-changer, challenging the notion of it being merely a bubble. They discuss how AI might lead to a shift towards Techno-Feudalism by concentrating power and altering industries like journalism and education. The conversation takes a dark turn as they critique Trump’s Venezuela policy, arguing it's less about a 'war on drugs' and more about securing oil, labeling the actions as extrajudicial murders instead of war crimes.
AI Snips
Chapters
Books
Transcript
Episode notes
AI Is A Lasting Technological Shift
- AI is not a fleeting bubble; the underlying technology will persist and grow.
- Economic gains from AI justify broad enthusiasm despite possible market overvaluation.
AI Dialogue Creates Powerful Cloud Rents
- Cloud-hosted AI assistants will win user trust through dialogue and recommendation.
- That trust lets platform owners extract large rents and bypass traditional markets.
Tech Could Move Economies Toward Techno-Feudalism
- A new mode of production — 'cloud capital' or techno-feudalism — may replace market-driven capitalism.
- Powerful platforms act like planned systems, converting traditional profits into centralized cloud rents.
