If you’ve heard this before, please stop. “Humans create technology companies with good intentions.” Humans become rich. And what about society?
The company ignores local laws, squeezes labor, drives competitors out of business, and jacks up prices. Society is collateral.
This has been around for at least a few decades and has permeated the tech industry. This is the story investigative reporter and economist Loretta Napoleoni laments in her new book, Technocapitalism: The Rise of the New Robber Barons and the Fight for the Common Good.
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Napoleoni explored, at least from her perspective, how tech giants use technology to get very rich at a high cost to most of the rest of us. She argued that these tech industry moguls are succeeding by exploiting the confusion and anxiety inherent in the “future-to-present” era we currently live in.
“Technology advances very quickly,” Napoleoni said. “That speed is unbearable for humans. We’re always behind. There’s always something to learn.”
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While many people feel anxious and struggle to keep up with the pace of technological change, tech giants are profiting from the constant growth of technology.
“That’s creating a huge gap between the masses and this small group of people,” Napoleoni said. “I don’t think they understand the impact they have on us.”
Click the play icon at the top of this story to hear the full conversation between Soundside and author Loretta Napoleoni.
