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> The Tech Industry Is Building a Vast Digital Underclass It'd change this title to "capitalism is building a vast digital underclass". Decisions are carried o
by aylmao 7y ago
> The Tech Industry Is Building a Vast Digital Underclass
It'd change this title to "capitalism is building a vast digital underclass". Decisions are carried out by algorithms, but made by people. All "the tech industry" is doing is optimizing capitalism with new methodologies, but at the end of the day it's the same incentives that build the systems in the first place.
This has been studied and known for a while: economists have speculated that capitalism would invariable result in a vast underclass with concentration of capital in a small portion of the population.
Let's not blame this or focus exclusively on the tech industry: the current wave of hate towards tech isn't but the realization that tech companies are businesses too, and so will do what they need to do to grow the business as much as possible and extract capital for the gain of their investors.