'Socialism for the Bankers' Yanis Varoufakis on What Killed Capitalism? (Part 2)

The world-famous economist and former Greek Finance Minister joins Ash Sarkar to argue that capitalism is dead and present a game-changing new paradigm: technofeudalism. The owners of big tech have become the world's feudal overlords—replacing capitalism with a fundamentally new system that enslaves our minds, defies democracy, and rewrites the rules of global power. But as Varoufakis will also reveal, technofeudalism contains new opportunities to thwart and overturn it, bringing into focus more clearly than ever the revolution we need to escape our digital prison. Watch Ash and Yanis open your eyes to the new power that is reshaping our lives and the world

#capitalism #china #novaralive #yanis #bigtech

[scroopynooperz]

This man's intuitive understanding of the global finance racket is truly something to behold.

[SkandalouzStyle]

(Rent) Yanis Varoufakis just answered a question that's been burning in my head,
why does Google and Samsung keep asking me for subscription money for cloud storage? I never asked them to take photos off my phone and store them?
and do you know how nearly impossible is to stop this from happening and get them back??
I actually have to find a setting that says stop taking photos off of my phone and deleting them from my phone? Wow.

Unbelievable 💯

[stevenmedge]

The issue with a great many marxists is that they haven't read Marx. If you don't understand the difference between profit and rent you won't be able to understand what defines capitalism as a system. That is why Yannis is correct, he delineates how the current technology companies generate their money, they don't earn profit from the production of sold commodities on a market, he extracts a rent from squatting on a digital space, which in this instance happens to be a capitalist market place.

[Gallagher]

Rent. That is the difference. The fact we can't even own our own copy of MS Office on a disc and even if we could, we couldn't use it because they've taken away the CD drive from our laptops is emblematic of technofeudalism.

[hilaryporter]

We need 'We Chat' equivalent. Thank you Yanis.

[fallonmassey]

*I disagree that Chins isn't Democratic, they are, I refer you to the definition of a Democracy!*
However, let's assume you're right, *then the Government limiting a company is absolutely proper!*
Why? Because you NEED an entity that's not democratic to take down a company that's also not Democratic!
*No Western company is Democratic... None! Democracy is reserved for things that don't matter!*

[garyweglarz]

The year is 1966 and I'm 14 years old listening to the political debate at the kitchen table between my dad, a steel worker with an 8th grade education - and one of his older brothers. My father's observation was that the U.S. has "socialism for the rich - and capitalism for everyone else." It was always clear to me that my parents, both of whom lacked a high school diploma - both had a much more sophisticated and nuanced understanding of how power works in America than any of my later university professors did. My dad followed up that comment with - "what this country needs is a revolution!" He'd be both amazed and saddened to see that the only "revolution" we got was a younger generation who thinks lesbians can sport a penis. : /

[Dark_Embracer]

You give a very detailed perspective on things 🤔

[marcelcicort]

I find myself asking similar questions and others, which nobody is asking or telling except this guy. ONE outstanding question or lie we are told is this. IF they pay people a higher wage, they tell us that costs of goods and services are rising.. Makes sense, and we buy the lie, except that they dont show or speak of the profits EXPECTED AND EARNED by the owners, which they EXPECT TO BE HIGH!! Like the price of oil.. when it goes up, you hear all bunch of reasons or excuses for the price increase, yet at the quarterly earning all of the sudden, there is a huge increase in profits as well... yet nobody makes that correlation! Which is that increased productivity costs are not real, yet profits they rake at the end ARE REAL. And we pay it, or better said it is stollen willfully with our consent because we expect to pay for what we consume, but we dont realize how we are being looted or price gouged, and accept that as being the price we pay for capitalism and our good lifestyle, buy is nontheless a steal with white gloves or called business while in reality is price gouging or greed!!!

By the same rate IF Walmart pays their people $20-$23/hr and they stop taking welfare because they can afford to live YET the owners (Waltons) take less profit (after they already have billions and billions) and the ecoonomy fluorishes because those people buy goods and services, avoid welfare checks, and all is good for everyone.. Imagine the alternative happening right now... Walmart employer can not make a living, goes on welfare (you and I pay for it), and the Waltons have more billions.. it is a form of stealing or Socialism for the Waltons because the money they earn is the rarning they steal (dont pay) their employees.. Socialism for the banks, rich politicians, is ON, yet we poor are screwed.. this is why MAGA is a lie, because the system does not allow itself to profit less, and neither does Trump, but the opposite.. I wish people would understand how they are lied to by seemingly truthful principles which qre all LIES, like the debunked, trickle down economics which proved that when the tied comes in the bay NOT all ships raise at same level.. Big ships raise 100 times or more than little ships, NOT This is why thr American dream is dead and not becsuse we have a shortage of anything! Intelectual propeety, land, respurces, money.. we have it all but we are being looted by the elites and we are too dumb to realize it therefore we support in power the same criminals who are looting us....

[fleurishadvisors]

The soul of humanity is being held captive by technology.

[vivalaleta]

I once bought an early photoshop app. A year later they claimed I didn't own it because they wanted monthly rent for the app.

[ASTEVER]

in India we have UPI, i bought 2 bananas for 10 Rupees ( 0.12$ converted for ease) and gave cash of 100Rs but the street vendor said " i don't have 90Rs in cash, do the UPI", i did UPI and money went from my Bank account to his in one second on which he paid no surcharge or tax. 👍

[csharpe]

Wow, someone is seriously deleting comments here!

[FCMC]

“Such boomer energy”.. such a shallow comment. Obviously didn’t grasp what Varoufakis was going for. Needs to work on hosting skills

[marksmit]

Techno feudalism is certainly a large factor in the economy (~30-40%), however our economy is not techno feudalist per se but it sells book eh Yanis. Brilliant as always Dr Varoufakis

[urimtefiki]

I have austerity since apr 2020, six months after I finished my invention.

[danielobryant]

The interviewer was ignorant and rude.

[Mk-oyns]

Currency ain't money! There in lies the problem!

[z]

Gains for the rich but loss is mutualized

[veyselbatmaz]

Make a video on this book: "Digitalism vs. Capitalism" as an answer to this video. He is highly criticized in this book.