Technofeudalism

The revolution has already occurred—and while capitalism lost, communal ownership certainly did not win. Capitalism died when the physical means of production—machines, factories, and services—were superseded by virtual platforms that, in feudal style, seek “rent” rather than surplus profit derived from labor. Technofeudalism, a system dominated by enormous companies existing largely online that transform users into the equivalent of medieval serfs, toiling (posting and networking) for free on land they don’t own (apps).