Yanis Varoufakis: Capitalism has evolved into technofeudalism

Рет қаралды 27,580

2 ай бұрын

-- Yanis Varoufakis, economist, former finance minister of Greece, and author of the new book "Technofeudalism: What Killed Capitalism" joins David to discuss technofeudalism, the future of technology's effect on the economy and inequality, and much more. Get the book: amzn.to/3I4mCuI
---
Become a Member: www.davidpakman.com/membership
Become a Patron: / davidpakmanshow
Book David Pakman: www.cameo.com/davidpakman
---
David on Instagram: / david.pakman
David on Threads: www.threads.net/@david.pakman
TDPS Subreddit: / thedavidpakmanshow
Pakman Discord: www.davidpakman.com/discord
Facebook: / davidpakmanshow
Leave a Voicemail Line: (219)-2DAVIDP
---
David's tech:
- Camera: Sony PXW-X70 amzn.to/3emv1v1
- Microphone: Shure SM7B: amzn.to/3hEVtSH
- Voice Processor: dbx 266xs amzn.to/3B1SV8N
- Stream Controller: Elgato Stream Deck amzn.to/3B4jPNq
- Microphone Cloudlifter: amzn.to/2T9bhne
-Timely news is important! We upload new clips every day! Make sure to subscribe!
Broadcast on February 20, 2024
#davidpakmanshow #yanisvaroufakis #technofeudalism

Пікірлер: 267

@StudioLB 2 ай бұрын

Corporate profits are unpaid wages

@Remedy462 2 ай бұрын

Totally. Capitalists act like you can't have profits and treat your workers well. Also, if people with an exorbitant amount of wealth don't spend their money and hold onto it forever, it will not feed the economy and keep the cycle going.

@cheat123 2 ай бұрын

thing about that is. employees have negotiated their wages. if the worker gets $15 an hour. then they get $15 an hour. anything more is profit for the company. the company an their leaders will use the profits how they see fit. whether its to expand, research, or invest. with that extra they can create more jobs and more opportunities. imagine if they gave the money to the workers. yea the workers would be happier but the company would also get stuck. if we lived in a society that didnt invest and stride for power we'd be living in mud huts. and if some people want that that cool. but over all, the evils of capitalism have pushed society forward.

@dannydenison6253 2 ай бұрын

@23 You can make compensation part of funding the company through essentially giving workers stake in the company instead of direct compensation. There is many pathways and you are 100% correct that its not a simple as just given workers all the profits of a company. But... There are many great worker co-ops that show how this can be done. It just needs some more laws that give them more easy pathways to be formed, and funding mechanisms similar to how easy it is to get a business loan. Alot of the Issue is just standardizing and setting expectations for what these companies are and how they operate as worker co-ops so they don't seem so distant and unknown. These companies show that collective ownership doesn't mean no investment into growing the business. A BIG EXAMPLE: Giving the workers the right to collectively take control of any company that is being sold for the price they are selling it. Strike a deal to sell a company? The workers get a chance to make it a worker CO-OP BEFORE it is sold. Even just getting 20-30% of businesses formed into worker co-ops gives people a choice in employment and forces the market to actually pay wages, and offer job security competitive to them. Of course there is a lot more to this and I personally would go a lot further, such as offering subsidized loans to these formations. Requiring all new buisness'es when they reach above 100 employee's to put a vote up for transitioning to a worker co-op... Require a fair market evaluation that workers can buy out a company at any time if you have above 1000 employee's. (and of course heavy pro union policy is quickest way to give workers a fair shake. Investment is necessary but we have it set up the worst way possible. It should be done with collective ownership and voice, and if you start a company that's great, you should make a lot of money, but once thousands of people are helping make that company everyone should have a say what it does with its investments, along with get a part of the pie.

@CoatCheckDream. 2 ай бұрын

Mhmmm. I remember all those minimum wage job negotiations between employer and employee

@dannydenison6253 2 ай бұрын

@@cheat123 this also fail to acknowledge that some of the fastest developing nations have had community and government investments as a massive part of that growth. USSR, China. And even many of the early capitalist nations had major protective policies along with government backing, or benefit from military/community reasearch. It's true that capitalism helps lead to innovation. But i would argue based on a critical analysis shows it not the only way. And in my opinion not the best way either. It most often takes community knowledge, and effort and packages it into way to only benefit a small few. While other methods, take that and benefit everyone. And that can include powerful insensitive's for those who help innovate and lead. Without giving them outsized power over others

@thoughtraindrops 2 ай бұрын

Thank you David for having Yanis on!

@prismpyre7653 Ай бұрын

even if david didn't understand a word of it

@vmacart 2 ай бұрын

techofeudalism describes it perfectly! thank you!

@Matt-rw9py 2 ай бұрын

Describes what? Do you have any idea what capitalism is? Capitalism is a freedom of choice. Nobody forces you to use Amazon or Facebook. It's your own individual decision to use them. Yanis is describing Amazon and Facebook as something imposed on every single one of us by force but they're not. I deleted my FB account because found it useless at some point. And I haven't shopped on Amazon for more than a year now because found the prices there higher than other online stores. Just because Jeff Besos is making sh*t loads of money doesn't mean he is forcing all of us to use his services. People choose to shop and sell on Amazon and they're the ones making Besos filthy rich. Yanis is talking total BS. He's a socialist and he either doesn't understand capitalism or is deliberately misleading the public. Socialism is in fact absolute lack of choice or no choice at all because everything is imposed on you by someone who thinks is smarter than you and knows better what your needs and wants are. Yanis is talking total BS.

@storm7617 2 ай бұрын

Yanis is a very insightful leftist. Any progressive would be well served by familiarizing yourself with his works. Thanks for bringing him on Pakman.

@angrychickenyt 2 ай бұрын

i wonder what happened to the greek economy

@jimmartin6803 2 ай бұрын

@@angrychickenyt He f us over and made us go through capital controls that let us only withdraw 50 euros a day from our banks, he is a piece of shit politician, maybe he knows what should be done but he isn't in theory but in action he was a corrupt scambag

@Feefa99 Ай бұрын

@@angrychickenytIf you imply that economic crisis in Greek was somehow his fault, just search when it started and when Yanis become Minister of Finance

@Echani3007 Ай бұрын

@@angrychickenyt Completely missed your jab.

@garycpriestley 2 ай бұрын

This guy has always been a pleasure to listen to - he informs, educates and inspires. Great guest!

@sspbrazil 2 ай бұрын

At least someone is having Yanis on their show, the other channels I watch have basically ignored him.

@niclas9990 2 ай бұрын

Break out of the limited options KZbin is giving you. He's been on Democracy Now, PoliticsJoe, and Novara. He's covered far more in Europe, but given how interconnected the world is and how much more international solidarity we desperately need, consider watching more European content.

@sspbrazil 2 ай бұрын

@@niclas9990 I watch all those channels, Democracy now is the only U.S. channel besides this one that he’s ever appeared on, Lex Fridman should have him on his podcast, I do t know why he hasn’t yet.

@niclas9990 2 ай бұрын

@@sspbrazil PoliticsJoe literally 10 days ago and 4 months ago; Novara 10 days and 2 days ago.

@sspbrazil 2 ай бұрын

@@niclas9990 that’s because of his book that he’s promoting, the most likely reason he’s been on here twice

@niclas9990 2 ай бұрын

@@sspbrazil Not even going to do the work of checking the channels you "watch" for anything non-book related before convincing yourself it's not worth your time? In literally the the seconds you spent typing your reply you could have checked. How desperately do you need it to be true that no one else is having Varoufakis on?

@James-gq4tb 2 ай бұрын

We need stronger anti trust laws and to invest in small businesses to redistribute the means of production out of the hands of just a few people. we also need to create vacancy taxes and a progressive residential property tax system that increases the greater the amount of residential properties you own. This encourages rent and housing prices to drop

@bomination. 2 ай бұрын

capitalism is a pyramid scheme that requires infinite population growth.

@Winspur1982 2 ай бұрын

Your first point is absolutely true. I tend to avoid Starbucks in favor of small coffee shops whenever possible, whereever I am. Howard Schultz just gets more demonic by the day so this is easy to justify. Your second point is good too, altho it really seems to me here in Chicago like the elite class would rather be killed in submarine or race car accidents than embrace these progressive taxes.

@johnny-wild 2 ай бұрын

David, I love your conversations with Yanis. Your dynamic together leads to succinct, grounded, and clarifying conversations of his concepts. I'd love to see you two tackle more involved topics together! - Johnny from Long Island, NY

@vmacart 2 ай бұрын

word up!

@onepartyroule 2 ай бұрын

It’s great to see Yanis back on the show.

@wesscarey4475 2 ай бұрын

YOUR A LIBTARD FOR WATCHING. LOW IQ CLOWN!

@paskowitz 2 ай бұрын

I've been following Yanis since he designed the in game economies of DOTA and Counter Strike. He's is probably the most intelligent and grounded leftist (in the EU sense, not the US conservative view of anyone who is a Democrat) economist out there.

@bagalao77 2 ай бұрын

Where I can learn about the difference between us and eu democracies?

@user-cofee 2 ай бұрын

Good since you are a long time follower, what is your opinion on secretly recording EU meetings ? What is your opinion on the honey I shut the banks statement ? What is your opinion on replacing currency that 10 million of your constituents invested in, with IOUs? What is your opinion of creating a black ops team to hack into the computers of the department that you are supposed to lead?

@jp-dp7wc 2 ай бұрын

@@bagalao77 en.m.wikipedia.org/wiki/The_Economist_Democracy_Index

@srghhh5589 2 ай бұрын

@@user-cofee All done to give people more power, so we obviously agree. Why are EU meetings behind closed door in the first place?

@user-cofee 2 ай бұрын

@@srghhh5589 oh we agree so much yes my 80y old parents felt so much powerful queuing for 3 hours at the ATM in fear of not being able to buy food for the next week. Why secret ? Hmm let me think the obvious.... to avoid having Soros alike betting against them on the open markets? Hmm the not obvious to allow all participants (who are politicians domt forget) to express themselves in honesty and not perform at the camera. This guy was the worst. His narcissism lead him to make bets on the backs of the people he purposfully mislead. Finally I find his current 2.5% (two point five) approval rating being too damn high, some people never understand, and I guess you are part of them.

@Marxistmark 2 ай бұрын

It was obvious that David had not read Yanis' new book about techno-feudalism. I hope he does and has Yanis back on with better questions. That being said, I appreciate that David exposed Yanis to his large audience again.

@omarose7504 2 ай бұрын

I've read his new book on Technofeudalism and Yanis is exactly right in his perception and analysis. For old people it is just a matter of time to be relieved of the effects of Cloud Capitalism, but for the younger world it is life changing for all time and future generations. There is always a balance to keep in mind between a thing which can be used for the good or the bad. We will all need to keep this in mind - always.

@LeadSurge3000 2 ай бұрын

*YEARS ago, I would get sales calls from the bastards at Zillow at my real estate Brokerage asking for me to post my home listings there, & I would say to them "I'll consider it only after you pay me for the content that MY OFFICE is creating for YOUR PLATFORM!" They usually saw the light & would give up & end the call conceding that I was making sense. Yes, Yanis is correct. Whenever we create monetizable content, we're making money FOR THEM FOR FREE!* 🤔

@misterq2597 2 ай бұрын

WHAT; A; BANGER, thank you both this was a great collab.

@goinsaneonthedailydemonsinside 2 ай бұрын

I love Yanis and David together

@matthijsbog7276 2 ай бұрын

Great guest!! You should talk more often! Yanis is amazing

@DulceN 2 ай бұрын

Very interesting conversation, thanks.

@monkfishkilla 2 ай бұрын

Impressive David, goes to show the quality of your work. Congratulations

@old_grey_cat 2 ай бұрын

Interesting questions and ideas.

@sputnikmoonchild 2 ай бұрын

David, you have the most fascinating discussions on KZbin!

@tanias4877 2 ай бұрын

Really enjoy hearing from Yanis, thanks David 👏🇭🇲

@barbarakoontharana725 2 ай бұрын

Interesting discussion!

@johndemeritt3460 2 ай бұрын

David, I don't see anything particularly new here: this is merely an application of Marx's classic analysis of the capitalist system under conditions of modern technology. It would be appropriate to say that this is merely a third phase of capitalism. In the first phase, factory owners were the profiteers and shared a portion of the profits they made from industrialization with a cadre of people who helped them finance the new factories. The second phase, which I've lived through, is the managerial phase. In this managerial phase, increasing complexity of corporations and their operations required more managers and supporting organizations: we have Human Resource departments to manage a growing workforce working with increasingly complex technologies. This requires more capital, but instead of going to a small number of relatively wealthy people, this phase of capitalism requires a larger pool of capital. Hence, a larger number of people with less money are encouraged to pool their money into a joint venture that buys a group of stocks and bonds. These groups are "mutual funds", which can raise large amounts of capital, but require a relatively large number of people to manage the growth of the funds. The "technofeudal" phase of capitalism isn't really very different from previous phases. What is different is the ability of machines -- or, more properly, data processing devices -- to displace workers AND managers from positions in the workplaces they used to occupy. It's not that markets have been eliminated: it's that they've adapted to the data processing and communications technologies that have evolved over the last seven decades. In many places, physical markets still exist; however, the goods and services offered can be more readily accessed and delivered because of the data and communication systems that now exist. This, as I say, is merely an extension of Marx's analysis of capitalism. This "technofeudal" capitalism is exactly what we should expect. But if you want some really useful projections about the futures of human economies, contact Dr. Andy Hines at University of Houston's Foresight program. For the better part of a decade (or more), Andy and his students have collaborated on how a whole range of factors might be producing economic systems that truly are different from the capitalism of today and the past four centuries. Ask about the After Capitalism project -- and tell 'em J. P. sent you!

@fishbone2921 2 ай бұрын

Thank you. That was really interesting.

@zcorpalpha2462 2 ай бұрын

Not really

@elektraantoniadou2590 Ай бұрын

Giannis and David... I absolutely love you both Mr. Varoufakis is incredible with words and research, but he did an awful service to Greece as a minister, he chose a confrontational attitude towards the EU and the investors, which backfired. But we have to admit he wasn't supported by his own government either He is more of a legend abroad than in his own country. He has my respect (plus, as a sidenote, he is a totally cool guy, I saw him once on his motorbike on a hill in Athens, I think he had a dog with him, very easy-going, completely alternative un-politicians' profile). Love from Greece

@actfree6897 2 ай бұрын

Brilliant guy and fascinating analysis

@OmarO4 2 ай бұрын

Though I am not 100 percent sold on the idea of techno-feudalism, it is always great to have a quasi-Marxian perspective on things.

@geniemerchant9531 2 ай бұрын

Loved this interview. Can't really understand but i guess i better learn.

@TheInternationalist Ай бұрын

Never thought I'd see this duo. Glad I did.

@laurakelly631 Ай бұрын

Love this guy! Brilliant!

@urbanfacts3406 2 ай бұрын

For first time I get what yanis means by technofeudalism. Here he explains it way more clear. And wow, it sounds dangerous.

@Homjos_Erhas 2 ай бұрын

reading this book currently; its compelling for sure

@mat3714 2 ай бұрын

David and millions of other content creators are also making money....these things need to be regulated, that's it.

@laylaali5977 2 ай бұрын

Excellent interview

@Foulball0206 2 ай бұрын

Fascinating

@MarkJanssen3 Ай бұрын

That central bank wallet idea is genius.

@AlexandruVoda 2 ай бұрын

Hey David, since you asked about AI, can you please do an interview with Timnit Gebru, founder of the Distributed Artificial Intelligence Research Institute or with David Chapman, author of Better Without AI ?

@Creslin321 2 ай бұрын

I totally get the parallel between feudal lords owning land, and serfs working the land, and Google (lord) owning KZbin, and content creators (serfs) creating content for KZbin. In both cases, the “lord” takes a tax out of the “serf’s” earnings. But I think the analogy breaks down a bit when you consider that all of the really bad things that we associate with feudalism aren’t really present with technofeudalism. In feudalism, serfs were pretty much forced to work. They either worked the land, or they died. There was no where else to go, and the lord owned everything around them. The lord could also impose whatever tax they wanted, and there was basically nothing the serf could do to contest it. In addition, if the lord controlled the entire security apparatus, so if they wanted to abuse their serfs, once again, nothing you could do about it. In the end, serfs effectively lived as slaves even if they technically weren’t. I don’t really think you can say the same of a content creator on KZbin or a door dash driver.

@Winspur1982 2 ай бұрын

It really depends on where and when the feudalism happened. Yes, in premodern Japan I think the serfs / peasants were forced to work the land or die (no emigration was really possible, altho maybe they could become bandits). But medieval Europe, which is clearly I think Varoufakis's frame of reference, had many sizeable cities that were legal avenues of escape or emigration for serfs. There was high population turnover in these cities due to diseases, so they always needed an influx of labor. The cities needed serf immigration just as much as the US military needs recruits from the working class today.

@Creslin321 2 ай бұрын

@@Winspur1982Admittedly, I'm not an expert on all historical implementations of feudalism, so I'm sure there are plenty of examples where a feudal arrangement just happened to not be completely terrible for the serfs. But the problem with feudalism is the system itself, not any one particular implementation. It's a system where your landlord is also the police, your employer, the government, and the military. So I mean, if your lord decides that your daughter is hot and says "yoink, mine!" What exactly are you going to do? Complain to the guards...that work for the lord? You are basically completely beholden to the will of your lord, and if your lord happens to be a super nice person, well lucky you...but more times than not, people in these positions of absolute power get corrupted by it. And history has no shortage of tyrants. So I think my overall point stands that comparing a KZbinr making content for Google, a company which has no power over them other than hosting their content, is disanalogous to a serf under a feudal lord, who is completely beholden to the will of the lord.

@Facerip 2 ай бұрын

What do you mean? Under capitalism, you either work, or die.

@Winspur1982 2 ай бұрын

@@Creslin321 I think Yannis pointed out that quite often content creators have to BEG GOOGLE to verify their identity (to read essential emails for example). It's not quite the same as stealing your children, but in my view it is abusive.

@brandonmedina4471 2 ай бұрын

@@Creslin321 I think you might be missing the point. In other interviews Yanis pointed out that the algorithms determine what we see. It’s not just about how the content and product creators are treated but the consumers too. You and I do not see the same Amazon or any other social media site. We see only the products they want us to see. A free market would be like a super market or farmers’ market where all goods and services are given space and we decide which ones to purchase based on need, quality and affordability. Yanis pointed out Amazon is more like being in a city where one person owns all buildings, the pavement you stand on, the air you breathe and they own a mechanical device that controls your head and neck movement so you can only look at what they want you to see.

@mathieuraetz2041 Ай бұрын

I feel less lonely. Thank’s.

@tinoyb9294 2 ай бұрын

Meanwhile, the planet is on fire.

@marioguelbenzu2348 2 ай бұрын

It would be wonderful if you David could retell his ideas, he is a genie

@jefftheriault3914 2 ай бұрын

Who watches the guardians? Thank you for having Mr. Varoufakis on.

@toranderson8141 2 ай бұрын

SHOCKED to see David inviting REAL Leftists

@Kurtvileseggnog 2 ай бұрын

David had Yanis on? This is awesome

@tonytaskforce3465 2 ай бұрын

It's actually worse than feudalism, which gave you a job for life.

@wanderlust4215 2 ай бұрын

Yanis is a legend! We need more human beings like him!

@random_h620 2 ай бұрын

You should debate Israel/Palestine

@beng4647 2 ай бұрын

No one cares

@janmortimer1758 2 ай бұрын

@@beng4647speak for yourself!

@Youtoober6947 2 ай бұрын

@@beng4647everyone cares. The israel/Palestine debate exposes who’s an actual leftist and who’s LARPing as one

@waltergoring8428 2 ай бұрын

Way to have on Yanis!!!!

@KanakarisGeorge 2 ай бұрын

Greetings from Belgium , Yannis.

@LeadSurge3000 2 ай бұрын

@13:01 **whomever*

@psikeyhackr6914 Ай бұрын

What happened to Planned Obsolescence Consumerism? When and Where did economists discuss the depreciation of automobiles purchased by consumers since Sputnik? Marx used the word 'depreciation' 35 times in the first two volumes of his major work. It is OK to ignore what Vance Packard had to say back in the 60s when we could have done something. But things were too good for too many people so we let things come to this.

@marioguelbenzu2348 2 ай бұрын

Yes, retell and clarify, explain , elaborate on what he said?

@rosemariebredahl9519 2 ай бұрын

I partially blame the repeal of news being a network public service obligation vs being supported by advertisers.

@two2uts 2 ай бұрын

Pushing back a bit.. it still boils down to Capitalism. The tools get more complex and sophisticated but that doesn't change the underlying definition of Capitalism by Yanis's own definition. We've had conglomerates that make/sell/re-package/re-sell/re-distribute in a variety of different markets - that is no different than AMZ. Technology has made access to these different markets easier for the consumer. Advertising has always been about creating a desire: ask any brand management company - what about a white T-shirt with "GUCCI" on it worn by a celebrity - do you not think that is producing capital for the brand? "Cloud capital" is just a fancy term for what marketing/advertising firms have been doing for decades. The secondary foundation/island is Profit which is still relevant - it just may not be immediate or as tangible as the gold seal on the dollar, but that was over 50 years ago and look at the speculative investment strategies on the stock market, that's still the same, the potential and perceived value is what drives profit. It feels like Yanis is just creating "technofuedalism" as the boogeyman out of fear of the unknown, specifically technology. In addition, AI really is just an extrapolation since the invention of the wheel.

@brandonmedina4471 2 ай бұрын

Except that Yanis points out that, since the 2009 bailout, central bank money or inflation has has to a large extent replaced profits while social media platforms have to a large extent replaced markets by controlling what products are available. Capitalism without profits or markets isn’t capitalism.

@two2uts 2 ай бұрын

@@brandonmedina4471 Central bank money and interest rates have "bailed out" the economy many times before 2009. The fractional-reserve banking system has been in place for over 300 hundred years. The Fed didn't inject capital into banks in 2008-9, it only made loans. Social media companies control what products are available no more than any other advertising channel. They DO provide a service to the users, most services are "free" for a contribution that you make to the "cloud capital" with your data/activity. You have the power to NOT use those platforms - it's the job of AMZ/FB/X/GOOG to KEEP you using them, I'm sure they are not laying in bed doing nothing, they are devising ways to keep you on the platform (plenty of tech giants have risen & fallen). Agree - Capitalism without profits or markets isn’t capitalism - but both still exist.

@supernovaaust 2 ай бұрын

I would go a step further and argue that Capitalists of the higher order: Industrialists, have created a system of global interferance. The industrialist dream is to return to the days of early industry where they have access to unlimited profits without the interferance of governance. In the days before the internet they had their costly news service advertise for them. However, these media organisations organisations were bound by the government through licencing. The industrialists have therfore been able to bypass democratic institutions, the laws which bind them to human morality and national boundaries. In this sense the industrialists can openly effect national politics in a way they have not been able to do since the early days of the industrial revolution and hense, a return to fuedalism. Amazon, X, facebook, google etc in this case are just gatekeepers. As much as AI can entirely be freewilled, so too nuances can be programmed into it so that selective information is given. In this sense, a tool like a hammer can be used to put a nail into a piece of wood to build a house but equally it can be used to hit someone on the skull. In this case AI is a hammer which few people own. You can own an AI system but without google or the other gatekeepers your system isnt going to be able to be used. The rise of Donald Trump, the massive anti scientific attacks against climate change etc... are not organic in the sense that a group of people with similar opinions coming together, but rather, are a result of instruments which have been carefully designed to generate opinion in the users cerebral cortex. In this sense, what we are seeing is hyper capitalism, Capitalism which is not bound by moral compass. Techno feudalism which the ecomomics proffesor discusses is secondary in a lot of regards to the greater danger that we face as they are agnostic at the least and pro industrialists to form coalitions at the other end if the scale... So, Amazon is essentially a service provider who will form coalitions with the biggest bidders. Amazon, through its global reach will espape regulations and laws. In this sense the main goal of the industrialists is to maintain global trade and information whilst simultaneously encouraging the individuals to be nationalists, thereby bypassing governance and effectivly being governments in themselves...but without democratic influence. In that sense, the world controlled by an Oligarchy where local politics is more of a side show to give the illusion of democracy or free choice. From there on in its a very slipperly slope.

@twitchtheking4950 2 ай бұрын

Keep having these kinds of people on David. It's nice to see left wingers with unique ideas and perspectives.

@sabinereynaudsf 2 ай бұрын

Jaron Lanier in Who owns the Future talked about the development in this direction in 2013. Too bad there wasn't a system created to give people a financial benefit from the cloud economy, instead all profits flow into the hand of the very few.

@paytonmcdermott9111 2 ай бұрын

It just seems like a new kind of monopoly to me. Ik they have unique power but the solutions seem the same as ever: regulation and public ownership in part or whole

@joerogain5025 2 ай бұрын

''YOU'LL OWN NOTHING and YOU'll BE HAPPY.'' Davos World Economic Forum

@wrathofgrothendieck 2 ай бұрын

As long as they guarantee the happiness it’s not so bad

@fortynine3225 2 ай бұрын

We used to buy stuff in physical stores. Now we buy them online. For online buying we need internet connection (subscription), smartphone (subscription), computer. For online content we need internet connection (subscription) and content provider (subscription). And then there are those online that have a global monopoly of sorts..like Amazon, Aliexpress, Netflix, Spotify..because they are cheapest. I think the problem is that there are lots of countries and they do not collectively make internet laws that protect countries economies from these global monopolists taking all our money.

@209Richsta Ай бұрын

U know I agree with Yanis. I like his terminology and term techno feudalism and agree that capitalism of the old is dead. Stakeholder capitalism is the proper term but I like techno feudalism better.

@LQ2DARESQ 2 ай бұрын

why the HELL did it take a week for you to release this interview but the Cenk interview was released on the same day??? This guy is INFINITELY more interesting than Cenk's delusional presidential run

@janmortimer1758 2 ай бұрын

Cenk speaks truth even though he won’t win and he knows that.

@briano9397 2 ай бұрын

So long story short: 1) He wants to attach everything you do online to your legal name. 2) Create a digital wallet that can track everything you buy

@rosslogie217 2 ай бұрын

"Varoufakis reported a total income of €970,000 for the period 2016-2018, a substantial property portfolio, and other assets in his ownership"

@polydex108 2 ай бұрын

Good to know. Thanks. Definitely not hurting or in the same class as us poors.

@janmortimer1758 2 ай бұрын

He’s written books,lectures. Speaks much truth.I’d say he’s earned it.

@two2uts 2 ай бұрын

@@janmortimer1758 Can agree - I'm sure he's earned it, however, there's a certain air of irony here since he's on this platform to get his message out. @17:30 he questions not getting any dividend for the capital he's produced - perhaps that's not entirely truthful. In addition, you wonder if any of his financial planning for retirement includes investments in some of these publicly traded companies - could he also be a shareholder earning dividends?

@troyyork1554 2 ай бұрын

In a sense the restaurant owner should be owning the building as yannis faravorkus says

@captainhowdy-13 2 ай бұрын

I’ve just contributed to cloud capital. 💰

@alexwelts2553 2 ай бұрын

This dangerous toxic cloud capital. And the algorithm. Could it be the product of the waste being lost to the aethers, running back down to the platforms that are built upon. Like pollution from factories into water supplies and then water cycles happening back to clouds? But digitally..

@XboxxxGuy 2 ай бұрын

And here Yanis has no idea what he's talking about. No, capitalism didn't "evolve" it's still just capitalism. What Yanis calls "technofeudalism" is what Marx calls "the tendency of the rate of profit to fall" something that is inevitable under capitalism. What Marx didn't analyze is that the rate of profit falls to ZERO under this supposed "technofeudalism"

@Winspur1982 2 ай бұрын

Marx didn't foresee that the Bezos / Zuckerberg / Musk class would not even need anyone to make anything in factories to generate profit for themselves. He didn't live to see the Internet (which was built by the US government, not a private entity) and how it enabled a new kind of feudalism / rent-collection ... he died soon after the telephone was invented, actually. It wasn't conceivable to him. That was the point here.

@Me-sq9ol 2 ай бұрын

American style capitalism concentrates wealth at the top… at the expense of everyone else.

@bsoul555 2 ай бұрын

The problem isn't AI itself, it's who owns it and how they use it.

@Craxin01 2 ай бұрын

People making money for owning things instead of doing things taking money and labor from people who do things and basically cannot own things. A bad system, but made worse when ever fewer people can own everything.

@wilhelmheinzerling5341 2 ай бұрын

Capitalism can work if you have a FAIR tax system and the economy is well regulated.

@adamcornell1186 2 ай бұрын

As long as capital owners control the government through lobbying and "donations" any regulations will always eventually be rolled back. We've literally seen it happen with FDR's reforms. Until the working class controls the means of production and thus wealth, this will keep happening.

@andersriksson100 2 ай бұрын

Control lobbying and donations better if possible! Democracy has become perverted in USA where the elected ralely act in the interest of the people but for themself and for their filthy rich donors.

@SixStringHarmonies 2 ай бұрын

I would agree to a point. However, capitalism went through that phase. Unfortunately, it didn't halt amidst that balance, it grew more corrupt and out of control. There needs to be a method of controlling wealth in one person/corporation/family's pockets. Period. Particularly when money = speech = political influence = political power = signed legislation = effected lives. I think a lot of Americans have a skewed view of capitalism because we have a unique period of success in our history, i.e., 1946-1972. This period was not the "norm". The global economy was in shambles. 50M+ people were dead. 1700+ cities were destroyed. The world was reeling. Germany, Japan, France, UK, Russia and China were in ruins for the most part. Particularly Germany and Japan. There was no Japanese auto industry. Nor German. The French weren't flipping right over to mass production of anything. They needed years to clean up and rebuild. The US was untouched by bombing, had amassed a huge manufacturing base and had an entire globe to sell to. So the era of Post-WWII American prosperity was not "capitalism working", capitalism had already failed the US in the Gilded Age, with the Robber Barons who brought on the ruin of 1929 and the Great Depression that followed. Once the rest of the world caught up, circa 1968, American manufacturing started to see that nose dive. Our economics have made our government less effective. The will of the 1% is paramount and it is granted most of the time regardless of democratic support or opposition. That is the problem.

@salsa564 2 ай бұрын

No, pure capitalism is inherently flawed and inherently unstable. For a country like the United States with inherent capitalist greed, socialist market economy is the way to go. It is much more stable when implemented correctly, and the results for the average person are much better. Neoliberalism has destroyed the west.

@adamcornell1186 2 ай бұрын

@@RoadkillxDemon exactly. The system is weighted in favor of the corporate organization we have now. It's an uphill battle with a boulder on our backs.

@Creslin321 2 ай бұрын

FYI, you can already talk to GPT 4 and it talks back to you 😉

@hurmur9528 2 ай бұрын

Interesting and could be selled to the right as well. I see no problem with the digital right argument if you are a capitalist either. The platforms are the problem since they put us on a path of the owner of the platform. Especially dangerous is Bezos with things like Alexia that has such a broad platform.

@fifthhoven 2 ай бұрын

That is why the Epic Games Store saves us all.

@mikehall7189 2 ай бұрын

Oligarchies. Here in Britain we have an oligarch for a PM.

@tylerhackner9731 2 ай бұрын

Crapitalism

@jerryp6001 2 ай бұрын

I snorted

@jvanleeuwenCdn 2 ай бұрын

Yanis is an pretty intelligent man... I only found out about him when right wing media kept talking about how stupid he is. IRONY++;