The real reason Elon Musk bought Twitter | Yanis Varoufakis on the future of capitalism

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Yanis Varoufakis discusses the rise of cloud capital, the mutation of free market capitalism, and the power of tech billionaires like Elon Musk and Jeffrey Bezos. Is this the end of capitalism, and perhaps even democracy? With a free trial, you can watch the full talk NOW at https://iai.tv/video/the-rise-of-technofeudalism?utm_source=YouTube&utm_medium=description Capitalism’s dominance may have run its course. A new system of control has taken its place, one Yanis Varoufakis calls technofeudalism. For Varoufakis, former Minister of Finance for Greece and number-one bestselling author, the elite few who run Big Tech exercise the same level of influence that feudal overlords once did. Except now, they not only threaten democracy but wish to rewrite the rules of global power themselves. Join Varoufakis as he reveals why we need to thwart these new figures, and why we need to get Musk and Sam Altman out of the White House before it is too late. #technology #capitalism #yanisvaroufakis #technofeudalism #economics Yanis Varoufakis is a leading critic of the economic establishment. He was the former Finance Minister of Greece, and is a professor, bestselling author, and current chair of the Democracy in Europe Movement 2025. The Institute of Art and Ideas features videos and articles from cutting edge thinkers discussing the ideas that are shaping the world, from metaphysics to string theory, technology to democracy, aesthetics to genetics. Subscribe today! https://iai.tv/subscribe?utm_source=YouTube&utm_medium=description&utm_campaign=the-rise-of-technofeudalism 00:00 Why is Facebook so valuable? 00:20 mutant machinery and the evolution of capitalism 02:52 The technofeudal lords: Jeff Bezos, Elon Musk, Mark Zuckerberg 04:11 Big Tech firms pay their workers only 1% of their revenues 05:39 Predatory capitalism, public austerity, and the 2008 Financial Crisis 08:41 Big Tech's greatest asset is your data 11:23 Why Elon Musk bought Twitter 12:33 The US vs China For debates and talks: https://iai.tv For articles: https://iai.tv/articles For courses: https://iai.tv/iai-academy/courses