- Nvidia and Micron are making emotional appeals to consumers while PC users express frustration with big AI companies’ practices and self-serving motives.
- Memory vendors predict DRAM and SSD shortages lasting until mid-2027, while new tariffs on advanced computing chips and potential Steam Machine pricing over $1,000 add to consumer concerns.
- The article highlights how corporations use emotional messaging to mask financial interests, advising consumers to remain skeptical of such appeals.
You could go further and say what’s happening now isn’t capitalism at all. Yanis Varoufakis calls the modern world economy “technofeudalism”: it’s controlled by information hypercompanies like Amazon, Google, and Apple, that make money not by producing anything, but by controlling the flow of information between consumers and producers, and charging producers rent for access to consumers.
If you’re an app developer, you pay Google and Apple whatever they ask, and you follow their rules, or you don’t get to sell your product in their app stores; if you sell products, you give Amazon their cut, or you don’t get to sell in their market. And because Google and Apple and Amazon have so effectively entrapped customers, capitalists who don’t agree to their terms can’t get to their consumers at all.
It’s vassal capitalism. Capitalists pay their technofeudal lords their 30% cut of revenue and compete with each other for the remaining scraps. And then they raise prices and cut wages, squeeze their workers and exploit their consumers even more, in order to make enough money to survive at all.
Capitalism, when unchecked, tends to create those giant monopolies you’ve mentioned. It is capitalism at its end game, total consolidation.
“Actually, real capitalism has never been tried”
I don’t disagree. I don’t know about strictly “techno-“, because it isn’t restricted just to the insertion of technological rent extractors every step of the way, it’s also every single business trying to maximize profits at every step along the production line, and they’re all effective monopolies that have no other way to make the line move up other than to charge for it. Almost nobody is making anything new, it’s just putting different color lipstick on a pig.