Greg Dickson
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thread 1/5
If you're connected to #business as either an #entrepreneur or working for an entrepreneur, you need to read this. It's the best assessment of capitalism and the current state we live in that I've read.
11:36 AM - Nov 09, 2023
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Greg Dickson
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thread 2/5
We no longer live in a capitalist society; capitalism has morphed into a “technologically advanced form of feudalism”.

Every time we use our cloud-linked devices – smartphones, laptops, Alexa, Google Assistant, Siri – we replenish the capital of the Big Tech cloudalists.
11:36 AM - Nov 09, 2023
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Greg Dickson
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thread 3/5
This in turn increases their capacity to generate more wealth. How? We train their algorithms, which train us, to train them, and so on, in a feedback loop whose goal is to shape our desires and behaviour. They are “selling things to us while selling our attention to others”.
11:36 AM - Nov 09, 2023
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Greg Dickson
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thread 4/5
So the “cloud capital” we are generating for them all the time increases their capacity to generate yet more wealth, and thus increases their power – something we have only begun to realise.
11:36 AM - Nov 09, 2023
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Greg Dickson
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thread 5/5
Approximately 80% of the income of traditional capitalist conglomerates go to salaries and wages, according to Varoufakis, while Big Tech’s workers, in contrast, collect

...“less than 1% of their firms’ revenues”...
11:36 AM - Nov 09, 2023
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Andrea Loken
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In response to Greg Dickson.
Fascinating article - I like the proposition that Varoufakis makes about democratizing money. Indeed, we need to put things into the hands of the majority of the people, not leave them in the hands of the obscenely wealthy.
03:54 PM - Nov 09, 2023
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Greg Dickson
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In response to Andrea Loken.
One of the ways we democratize capitalism? Make employees owners and shareholders.
04:46 PM - Nov 09, 2023
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#Glassbydeanna
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In response to Andrea Loken.
When the currency is attention it is the most democratic. The challenge for the “investor” is where you spend it. Requiring platforms to provide quality for the time and attention “spent” is up to us. That is why I am here on Spoutible. They are worthy of my investment :) positive step!
11:22 AM - Nov 20, 2023
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