The Nerd Reich Inside The Tech Cult: How Venture Capital Plans to Exit Democracy
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Jan 2, 2026 In this engaging discussion, Olivier Jutel, an academic expert on venture capital and its political ramifications, explores how VC is reshaping democracy. He reveals the shift from innovation to power as leading figures invest in AI, surveillance, and radical political projects. Jutel critiques the myths surrounding venture capital's profit-making, the concept of 'network states,' and how current economic models prioritize elite interests over democracy. He argues for reclaiming tech's future to preserve a collective societal vision.
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VC As State Planner
- Venture capital acts as de facto state planners by shaping long-term visions and funding disruptive technologies.
- Their cultural power makes VC synonymous with “innovation,” amplifying political influence beyond its economic size.
Fees Drive VC Incentives
- VC's revenue relies heavily on management fees and carried interest, not constant unicorn hits.
- That fee model reduces real risk-taking and incentivizes maintaining assets regardless of public returns.
Exit Through The State
- Many VCs are 'exiting through the state' by seeking government contracts as private returns dry up.
- The state becomes the bailout or buyer for risky, underperforming tech bets.
