IN FULL Yanis Varoufakis welcomes us to the age of Technofeudalism | Full interview

23:53 this is a subtle point how big tech avoids taxes Example use-case: 1. A Company based in the USA develops a new software technology. It establishes a subsidiary in Ireland, where corporate tax rates are lower. The MNC (multi national corp) transfers the software's IP rights to the Irish subsidiary. 2. The Company's operations in the USA, Germany, and Japan use this software, paying royalties to the Irish subsidiary. These payments are tax-deductible expenses in the USA, Germany, and Japan, thereby reducing the taxable profits in these countries. 3. The Irish subsidiary, which now collects royalties, sees its income increase. Since Ireland has a lower corporate tax rate, the overall tax paid on these profits is significantly lower than it would have been had the profits been taxed in the USA, Germany, or Japan. This method, while legal, is often scrutinized as a form of tax avoidance, leading to calls for international tax reform. The aim of such reform is to ensure that corporations pay taxes in the countries where they conduct significant business and generate value, rather than shifting profits to lower their tax liabilities.

I am grateful by Yanis appearance on the intellectual map. He is taking the guts to speak his mind out, consideration free of political self-censorship. My respect !

This is one of the most thoughtful, informative, and unbiased interviews I have ever seen. Evolving economic meta-structures need to be addressed in a timely, intelligent manner. Thanks to both of you for making the world a little smarter.

Right now anyone in the tech sector, engineers (etc), knows the meaning of tech feudalism. Machine learning/AI/LLM, call it what you will but it is having a deleterious effect on their means of earning a living. This trend will spread to other sectors where knowledge, expertise or decision making are your assets. Capitalism, whichever flavour you choose, has never given one jot for those on the sharp end of the consequences.

Man this guy hits it spot on, identifying the cyclicality of the markets and how we’re entering a new age of “cloud capital” where central banks should have invested more into green tech instead of just buying up debt for companies to buy back their stock with - modern capitalism is so grossly inefficient and I can’t believe people fall in love with the markets

Like a wise wizard from a good videogame, voice, gestures and excellent explanations.

We never leaved feudalism. The "king" has changed but, the premises are the same. Technology and money to guarantee power. The people are not dictating how the premises are fulfilled are condemned to sustaint the people who are dictating it.

Great interviewer and guest. Well done!!

"Its not a moral point, its LOGIC", thats pure marxism, amazing!!!!!

He's a Greek. He will talk, always charismatically, even after the end of the world, let alone the end of capitalism.

Really appreciate how clearly Yanis explained his points.

Amazing, wish this interview was longer so he could explain his points more extensively

I love the descriptor, "The Great and the Good." My experience has been, and increasingly so since 2008 (where I was financially harmed at a significant level) is that there aren't many 'great' players who are 'good.'

Yanis is as as always... Cheers to the lady 🎉

This man absolutely knows what he’s talking about- all should listen and open your eyes.

Very interesting. Thanks for sharing 😊

Good stuff from Yanis! Laissez-faire or under-controlled capitalism plus under-controlled technological "progress" brings us to technofeudalism (also describable as corporate socialism with economic growth based on continuing tech "progress"). This is the basic life drive operating in the human species without the wisdom of constraints to maintain balance-fairness, human-human, human-earth. Just as, without having basic design rules-constraints, you cannot make an airplane that flies well and efficiently with its passengers safe, happy, and comfortable, neither can you have an economy that flies without the right design rules-constraints. Can we redesign-rebuild the airplane we now have while it’s still flying, or will it need to be brought down? Next Q: What becomes of the nature of man or even our existence as a species under technofeudalism? Borgification or replacement by our own technology.

Agreed - should have printed to fund the accelerated Green transition AND sector specific entrepreneurial innovations (lower cost housing development, agriculture and more)…great interview 💥

You know you are living in”interesting times”, when The New York Times, provides a platform for Yanis Varoufakis.

What a wonderfully descriptive word! 🤓