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   ted byfield (tb@tldr.nettime.org)'s status on Sunday, 09-Apr-2023 16:11:46 JST ted byfield

   Long, fine piece on #SVB and #VC: "To put it more plainly, for the past 10 years venture capitalists have had near-perfect laboratory conditions to create a lot of money and make the world a much better place. And yet, some of their proudest accomplishments that have attracted some of the most eye-watering sums have been: 1) chasing the dream of zeroing out labor costs while monopolizing a sector to charge the highest price possible (A.I. and the gig economy); 2) creating infrastructure for speculating on digital assets that will be used to commodify more and more of our daily lives (cryptocurrency and the metaverse); and 3) militarizing public space or helping bolster police and military operations."

   https://slate.com/technology/2023/03/silicon-valley-bank-rescue-venture-capital-calacanis-sacks-ackman-tantrum.html

   • Embed this notice
     pettter (pettter@mastodon.acc.umu.se)'s status on Sunday, 09-Apr-2023 16:12:34 JST pettter

     in reply to

     @tb well yes they are all capitalists that is literally three of the basic tendencies of capitalism

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     pettter (pettter@mastodon.acc.umu.se)'s status on Sunday, 09-Apr-2023 16:15:40 JST pettter

     in reply to

     @tb ah, Edward Ongweso Jr, well he'd know