Capital triumphed over democracy a long time ago. Today, following the Crash of 2008, the deployment of central bank money to refloat Big Finance, and the rise of Big Tech’s platform corporations, a new type of capital has emerged: Cloud capital (a form of command capital living in the ‘Cloud’). Cloud Capital is crushing the remnants of our democracies and us giving rise to a new, technofeudal, ruling class – the Cloudalists. In a video lecture commissioned and organised by the IAI Academy, Yanis Varoufakis defines and discusses the new cloudalist class ruling over the emergent technofeudalism.
For the iai’s site, click here. For a related article on this cloud-based ruling class, click here