How we became digital serfs

Lately

Who profits from our online lives? How is all our clicking and scrolling giving tech companies such unprecedented power and wealth? This isn’t capitalism, argues Yanis Varoufakis: it’s technofeudalism.

Maverick economist Varoufakis argues that we’re all serfs now, paying rents to the big tech "cloudalists” (cloud + capitalists). He talks about why we don’t actually own the music and movies we buy online; what Don Draper knew about behaviour modification; and how a Star Trek future could save us, and democracy.

Yanis Varoufakis is the former finance Minister of Greece whose latest book is called Technofeudalism: What Killed Capitalism.

Also, Vass and Katrina talk about whether Civil War is worth a trek to the theatre.

This is Lately. Every week, we take a deep dive into the big, defining trends in business and tech that are reshaping our every day.

Lately is a Globe and Mail podcast.

Our executive producer is Katrina Onstad.

The show is hosted by Vass Bednar and produced by Andrea Varsany.

Our sound designer is Cameron McIver.

Subscribe to the Lately newsletter, where we unpack more of the latest in business and technology.

Find the transcript of today’s episode here.

Survey alert! We want to know about you and what you’d like to hear on Lately. Please go to latelysurvey.ca to fill out a brief survey (less than five minutes, we promise!) and we’ll enter your name to win one of three gift cards you can use to shop online. We’d love to hear from you.

Send your comments, questions, or ideas to [e-mail].