How Big Tech stole $35 trillion from the public | Yanis Varoufakis on the end of capitalism

Yanis Varoufakis discusses the rise of cloud capital, the mutation of free market capitalism, and the power of tech billionaires like Elon Musk and Jeffrey Bezos.

Is this the end of capitalism, and perhaps even democracy?

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Capitalism’s dominance may have run its course. A new system of control has taken its place, one Yanis Varoufakis calls technofeudalism. For Varoufakis, former Minister of Finance for Greece and number-one bestselling author, the elite few who run Big Tech exercise the same level of influence that feudal overlords once did. Except now, they not only threaten democracy but wish to rewrite the rules of global power themselves. Join Varoufakis as he reveals why we need to thwart these new figures, and why we need to get Musk and Sam Altman out of the White House before it is too late.

#technology #capitalism #yanisvaroufakis #technofeudalism #economics

Yanis Varoufakis is a leading critic of the economic establishment. He was the former Finance Minister of Greece, and is a professor, bestselling author, and current chair of the Democracy in Europe Movement 2025.

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00:00 Why is Facebook so valuable?
00:20 mutant machinery and the evolution of capitalism
02:52 The technofeudal lords: Jeff Bezos, Elon Musk, Mark Zuckerberg
04:11 Big Tech firms pay their workers only 1% of their revenues
05:39 Predatory capitalism, public austerity, and the 2008 Financial Crisis
08:41 Big Tech's greatest asset is your data
11:23 Why Elon Musk bought Twitter
12:33 The US vs China

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