Cloud capitalism

The book Techno Feudalism by Yanis Varoufakis is one of the best explanations of what it feels like to live in a world governed and ruled by cloud-based algorithms.

It helped me to articulate what I’ve been feeling for a while, about our collectively dependency on web technology and the deeper meaning behind it all.

Here is the stark reality confronting society in the 21st century:

• Platforms create cloud capital – revenue generating systems that are independent from humans.
• Ownership scales independently of labour – platforms no longer needing employment to generate capital.
• Users of the platforms become serfs – we supply our data to finance these platforms for a small return
• Power concentrates invisibly – over time, in the hands of the few

Perversely speaking, we have now become contributors of this capital for free.

We willingly provide it as part of a trade. A trade for access to the internet and connected services.

The value we receive from such service is now indispensable.

It helps us to navigate, to think, to organise, to plan, to socialise, and more. It’s like being in a controlling relationship with a bad partner.

Staying is a bad decision, but leaving would be even worse.

Read Technofeudalism: What Killed Capitalism by Yanis Varoufakis