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The 3rd paragraph is incongruous with the 4th paragraph. If they are not generating profits then how come we accuse them of extracting rent and "maintaining tec

The 3rd paragraph is incongruous with the 4th paragraph. If they are not generating profits then how come we accuse them of extracting rent and "maintaining techno-peasants"? The major characteristic of feudalism was that power centers deteriorated and power was distributed to local lords insted of central kings. So how is having a single gigantic company more like feudalism? Lastly, why come up with such convoluted theory when "too much speculation due to cheap debt" explains everything with much less gymnastics

Barrin92 5y ago
> If they are not generating profits then how come we accuse them of extracting rent because those are not the same thing. Feudalists don't extract surplus wage labor, they extract direct tribute from their subjects, and just like that the entire value of Facebook say, is in what its users produce on its platform. That experience is the actual rent they collect. Ever wondered why all of this stuff is free? And power is deteriorating. Away from the state, which played a central role in organizing and managing the traditional market economy towards these private spheres of influence of which the principal unit is the tech-firm.
- cuteboy19 5y ago
  I feel like my mother posting about some cauliflower recipe would be much less useful tribute than a few kilos of rice. There must be some point to the tribute. This stuff is free because Facebook is an advertisement company. I enjoy a good conspiracy as well but at least it must be somewhat entertaining.
spacebanana7 5y ago
> If they are not generating profits then how come we accuse them of extracting rent Just as it was possible for a medieval king to have terrible finances by spending more on war/security than he collected in rent from Barons, a tech company can lose lots of money by spending more on customer acquisition/platform maintenance than collected in rent from suppliers.

Barrin92 5y ago

> If they are not generating profits then how come we accuse them of extracting rent because those are not the same thing. Feudalists don't extract surplus wage labor, they extract direct tribute from their subjects, and just like that the entire value of Facebook say, is in what its users produce on its platform. That experience is the actual rent they collect. Ever wondered why all of this stuff is free? And power is deteriorating. Away from the state, which played a central role in organizing and managing the traditional market economy towards these private spheres of influence of which the principal unit is the tech-firm.

cuteboy19 5y ago
I feel like my mother posting about some cauliflower recipe would be much less useful tribute than a few kilos of rice. There must be some point to the tribute. This stuff is free because Facebook is an advertisement company. I enjoy a good conspiracy as well but at least it must be somewhat entertaining.

spacebanana7 5y ago

> If they are not generating profits then how come we accuse them of extracting rent Just as it was possible for a medieval king to have terrible finances by spending more on war/security than he collected in rent from Barons, a tech company can lose lots of money by spending more on customer acquisition/platform maintenance than collected in rent from suppliers.