The digital revolution may be turning waged workers into cloud proles, who live increasingly precarious, stressful lives under the invisible thumb of algorithmic bosses…. But that’s not the most significant fact about cloud capital…. The true revolution cloud capital has inflicted on humanity is the conversion of billions of us into willing cloud serfs volunteering to labour for nothing to reproduce cloud capital for the benefit of its owners.

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Technofeudalism made things infinitely worse when it demolished the fence that used to provide the liberal individual with a refuge from the market. Cloud capital has shattered the individual into fragments of data, an identity comprised of choices as expressed by clicks, which its algorithms are able to manipulate. It has produced individuals who are not so much possessive as possessed, or rather persons incapable of being self-possessed.  

Excerpts from Technofeudalism: What Killed Capitalism by Yanis Varoufakis, published by Melville House Publishing, UK & USA, 2024, pp. 88 & 182.