In an interview with Aftermath, Yanis Varoufakis, former economist in residence at Valve, says that the company unintentionally prototyped the digital economic hellscape we're currently forced to languish under. That hellscape is the subject of his book Technofeudalism: What Killed Capitalism, published earlier this year, and it's one he says he helped create.
As Varoufakis describes it, we no longer live under capitalism. Instead, he says we're in the age of "technofeudalism," a condition which emerged from and supplanted capitalism. The essential feature of this new era, according to the economist, are algorithmic fiefdoms that masquerade as marketplaces, extracting rent and dictating the terms of exchange while producing none of the goods themselves. Amazon is a prime example, as is Apple's App Store.
