Has Capitalism Been Replaced by "Technofeudalism"?

But a more substantive answer is that there is only some truth to this, and I think it’s not really about tech. For example, consider this paragraph from the article:

> Varoufakis just published his seventeenth book, called “Technofeudalism.” Capitalism, he argues, has been replaced by a new economic system that’s more dangerous than anything Marx could have conjured. The big tech companies—Meta, Amazon, Apple, Alphabet—control our attention and mediate our transactions, he says, turning humans into digital serfs incessantly posting, scrolling, and buying on their platforms. Rather than chasing profits that derive from labor, the tech overlords, whom he calls “cloudalists,” extract “rents.”

I agree that the biggest companies have too much power over us, the economy, and politics. But this is true of all big companies that get to a certain size. This is really about rebuilding our antitrust laws and enforcement for a new world. It’s about lobbying. It’s about requiring standards and protocols. And a lot of other things. But the ‘feudalism’ part feels like it’s an emotional label, and the ‘techno’ part feels too narrow when we could highlight similar problems in other industries too.