4 ms·

Its not just tech companies, its capitalism eating itself in hype cycles of bulls and bears.

• marsven_422 4y ago
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• remarkEon 4y ago
  >its capitalism I see this type of comment and sentiment more and more in threads on tech companies, and I have to ask: what exactly is meant by it? Is the idea that cycles of cynical exploitation only exist in capitalism? That seems flatly false, on every level, when compared to the other options. Bureaucratic exploitation exists everywhere, always has, and always will.
  • deleted 4y ago
    [deleted]
  • jfengel 4y ago
    It's not intended as a comparison to other systems. It's calling out a failing of capitalism on its own, since capitalism is the system we live under. Viewed more fully, the argument points out that capitalism tends to concentrate wealth. On the other end, people without cash reserves get pushed to subsistence living, since they can be pitted against each other to compete for the lowest salary. And you can expect middle managers to side with the people with the most money, since they'll receive rewards for helping them concentrate their wealth. That doesn't claim that you can eliminate bureacracy. It just points out areas where capitalism itself is the problem, and you can consider other systems. Or improvements to this one, though analysis of capitalism suggests that most improvements will be co-opted in favor of those with money against those who don't. So that's what the phrase means. There's still a lot to unpack, but that's enough to suggest that there's more to it than just a buzzword.