The hosts dive into the chaotic world of cryptocurrency, highlighting regulatory challenges and its unpredictable future amidst political influences. They discuss the evolving investment landscape, particularly the risks posed to pension funds by major firms' interests in crypto. The conversation also covers the complexities of generative AI, its intersection with military technology, and the crucial infrastructure concerns it raises. As they explore the year of polycrisis, they emphasize the importance of critical engagement with these escalating issues.

Delve into the shocking rise of on-demand nursing platforms and how they’re exacerbating labor exploitation and degrading care quality. Explore the historical gender disparities in nursing and the devastating effects of temporary labor fueled by private equity. This conversation reveals the urgent need for better labor rights in a sector deteriorating under profit-driven motives. Tune in for incisive analysis on how algorithmic management is threatening the future of healthcare.

[Note: we explain TMK's new structure from 0:00-10:28, so skip that to get straight into the episode] We dive into the market for catastrophe bonds (or, “cat bonds”) and talk about how this complex financial instrument is sold as the silver bullet for climate finance — especially for under-developed countries that are at risk of devastation from disasters like hurricanes, floods, earthquakes — which is meant to be an alternative to insurance for places that cannot access or afford policies. In reality, they have given institutions like the World Bank the perfect neoliberal policy for climate (in)action, they have provided extremely lucrative windfalls for hedge funds, and they have left people in devastated regions with nothing to show for their expensive premiums. ••• Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• Subscribe to Ed’s substack: https://substack.com/@thetechbubble —— ••• The Harsh Reality of ‘Hurricane Insurance’ https://www.bloomberg.com/features/2024-jamaica-hurricane-catastrophe-bonds/ ••• The Risky Business of Predicting Where Climate Disaster Will Hit https://www.bloomberg.com/graphics/2024-flood-fire-climate-risk-analytics/ ••• In Nature’s Casino https://www.nytimes.com/2007/08/26/magazine/26neworleans-t.html Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (bsky.app/profile/jathansadowski.com) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (bsky.app/profile/jebr.bsky.social)

First we talk about the unholy trinity of Anduril, Palantir, and OpenAI working together to secure major contracts from the Pentagon for networking data systems and training AI models. Then we get into how Blackstone now owns the AI boom with $50 billion invested in data centre infrastructure and another $50 billion in the pipeline. Lastly, we chat about how the mortgage markets in the US, Australia, and elsewhere—the very cornerstone of entire economies and generational wealth—are once again facing systemic risk a lá the 2008 crash, but this time caused by climate catastrophes. ••• Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• Subscribe to Ed’s substack: https://substack.com/@thetechbubble ••• We saw a demo of the new AI system powering Anduril’s vision for war https://www.technologyreview.com/2024/12/10/1108354/we-saw-a-demo-of-the-new-ai-system-powering-andurils-vision-for-war/ ••• Mind the Gap: Foundation Models and the Covert Proliferation of Military Intelligence, Surveillance, and Targeting https://arxiv.org/abs/2410.14831 ••• Blackstone’s Data-Center Ambitions School a City on AI Power Strains https://www.bloomberg.com/news/features/2024-12-08/georgia-s-blackstone-backed-qts-data-center-hits-resistance-over-ai-power-needs ••• The Climate Risk to the Mortgage System https://www.nytimes.com/2024/12/07/business/economy/mortgages-climate-risk-fannie-freddie.html ••• Surging insurance costs are driving thousands of borrowers to breach their mortgage contracts https://www.abc.net.au/news/2024-12-10/insurance-costs-are-driving-thousands-to-breach-their-mortgages/104703586 ••• How climate risks are driving up insurance premiums around the US – visualized https://www.theguardian.com/environment/2024/dec/05/climate-crisis-insurance-premiums Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (bsky.app/profile/jathansadowski.com) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (bsky.app/profile/jebr.bsky.social)

We’ve got a great reading series that redirects our attention to another big bugbear of TMK: the destruction – and salvation – of nature via asset markets and risk management. We talk about how the business world is coming around to the idea that is nature is *not* a “a free, infinitely extractable resource” and might actually be a valuable asset worth safeguarding—but only if it has clear and direct links to immediate profit! This has led to a number of great new innovations like “biodiversity credits,” which will surely create all kinds of great and desirable outcomes. ••• Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• Subscribe to Ed’s substack: https://substack.com/@thetechbubble ••• Do businesses need to care about biodiversity? https://www.ft.com/content/8c6dd560-604b-4d2c-8ff6-4e60a8a4726d Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (bsky.app/profile/jathansadowski.com) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (bsky.app/profile/jebr.bsky.social)

The shocking assassination of a health insurance CEO sparks discussions about executive accountability. A controversial startup promises to turn homes into fortified sanctuaries for the tech elite, built on paranoia and a touch of literary villainy. Meanwhile, visions of an army of ethical tech workers powered by a vaporware platform raise eyebrows. It's a deep dive into the intersection of wealth, security, and a society divided, highlighting the dark undercurrents shaping modern leadership and lifestyle.

The podcast dives into the legal wars waged by Elon Musk and Amazon against the National Labor Relations Board, revealing potential threats to workers' rights. The discussion expands to the right-wing's political organization, which paradoxically targets bureaucratic structures. Additionally, it critiques the Democratic Party’s judiciary choices amidst these corporate challenges. There's a strong call for the left to develop a new understanding of state power, emphasizing the need for a proactive stance in reclaiming labor protections against corporate exploitation.

We chat about Ed’s brilliant critical review of the new book AI Snake Oil and talk about the shortcomings of analysis that are so focused on demystifying the hype about what AI can do that the hype becomes the only thing that matters. We sharpen our own critique by sparring with this interesting and thoughtful — but also limited and naive — critique of AI. Rather than treating hype as the root of all evil in tech — and thus framing our solutions to AI harms as a technical exercise of discerning snake oil from real cures — we must push further to attack the material foundations of the AI industry. Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• AI Scams Are the Point https://newrepublic.com/article/188313/artifical-intelligence-scams-propaganda-deceit Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (www.x.com/jathansadowski) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (www.x.com/braunestahl)

We get into the New York Times's lawsuit against OpenAI and Microsoft, which challenges the use of copyrighted material as training data for AI models. The NYT’s case is built on notions of “romantic authorship” — or the irreducible / ineffable quality of creativity and individuality in human works — and discuss the analytical weakness of building critiques and strategies on such immaterial, shifty grounding, and the serious limits such a framing puts on potential solutions. We also chat about OpenAI’s further push into education and its effects on teaching. Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• New York Times Says OpenAI Erased Potential Lawsuit Evidence https://www.wired.com/story/new-york-times-openai-erased-potential-lawsuit-evidence/ ••• NYT v. OpenAI: The Times’s About-Face https://harvardlawreview.org/blog/2024/04/nyt-v-openai-the-timess-about-face/ ••• AI Companies Are Trying to Get MIT Press Books https://www.404media.co/mit-press-ai-training-on-books/ ••• There’s No Longer Any Doubt That Hollywood Writing Is Powering AI https://www.theatlantic.com/technology/archive/2024/11/opensubtitles-ai-data-set/680650 ••• OpenAI releases a teacher’s guide to ChatGPT, but some educators are skeptical https://techcrunch.com/2024/11/20/openai-releases-a-teachers-guide-to-chatgpt-but-some-educators-are-skeptical/ Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (www.x.com/jathansadowski) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (www.x.com/braunestahl)

In our first recording back from holiday, we get into the Silicon Valley Election and go through the relationship between Trump and Musk. What can we expect from the President and his First Buddy — personally and politically, institutionally and financially? Beyond Musk, how might the tech elite behave and benefit in another Trump administration? There’s a lot of potential and speculation and promises and hype at this point—and a lot of open questions that remain to be seen—but we set the scene and put the players on the board for what’s shaping up to be an exciting (and stupid) new season of TMK. Pre-order Jathan’s new book! https://www.ucpress.edu/book/9780520398078/the-mechanic-and-the-luddite ••• Why Is Elon Musk Really Embracing Donald Trump? https://www.newyorker.com/news/the-financial-page/why-is-elon-musk-really-embracing-donald-trump ••• Elon Musk may already be overstaying his welcome in Trump's orbit https://www.nbcnews.com/tech/tech-news/elon-musk-trump-donald-mar-a-lago-appointment-position-rcna179826 ••• The cult of the founders https://www.programmablemutter.com/p/the-cult-of-the-founders ••• Musk Wants to Slash $2 Trillion in Federal Spending. Is That Possible? https://www.nytimes.com/2024/11/16/us/politics/dept-government-efficiency-explainer.html ••• US commission proposes ‘Manhattan Project-like’ initiative for AI https://www.computerworld.com/article/3609516/us-commission-proposes-manhattan-project-like-initiative-for-ai.html ••• Tech companies will have it easy under Trump. Just like they did under Biden https://www.fastcompany.com/91224437/tech-companies-will-have-it-easy-under-trump-just-like-they-did-under-biden Subscribe to hear more analysis and commentary in our premium episodes every week! https://www.patreon.com/thismachinekills Hosted by Jathan Sadowski (www.x.com/jathansadowski) and Edward Ongweso Jr. (www.x.com/bigblackjacobin). Production / Music by Jereme Brown (www.x.com/braunestahl)