Techno-Feudalism: How the Lords of the Digital Realm Govern Us Serfs – An Incredibly Ugly and Unfair Economic Tale

by Yanis Varoufakis, Miwa Seki

In this provocative analysis, economist Yanis Varoufakis argues that capitalism has ended, giving way to a new system he terms "techno-feudalism." Dominated by tech giants like Google and Apple, these digital lords control vast platforms, extracting rents from users who have unwittingly become modern-day serfs. Varoufakis explores how these corporations have enclosed the once-open internet, transforming it into territories where users' free labor enhances the platforms' value. He challenges readers to recognize this shift and consider pathways to reclaim autonomy in the digital age. ​

Genres: Nonfiction, Politics, Economics, Academic

320 pages

Published February 26, 2025

About the author

Ioannis "Yanis" Varoufakis is a Greek-Australian economist and politician. A former academic, he has been Secretary-General of the Democracy in Europe Movement 2025 (DiEM25), a left-wing pan-European political party he co-founded in 2016. A former member of Syriza, he served as Minister of Finance from January to July 2015 under Prime Minister Alexis Tsipras.

Reviews

[Tristan · Rating 4 out of 5]

The irony of creating content/capital for a cloud provider by reviewing this book is not lost on me! But I think it’s worth it..

I learnt a lot about macroeconomics and there’s a lot to be inspired by here. 4 stars because there were some areas that I do know about (technology) where I felt that Varoufakis was playing a bit fast and loose to suit his argument, which then tempered my enthusiasm of the whole thing.

[Charles Liburd · Rating 5 out of 5]

Anyone interested in understanding the world we live in and why we have to own the machines and supplant the owners who are on track to own our minds, should read this book. This is not socialism, it is not capitalism, it is the sense of the commons. Or, to use Varoufakis's words, putting the 'demos' back into democracy.

[Greg Hernandez · Rating 5 out of 5]

Great read , fuedalism of today

[Albert · Rating 4 out of 5]

In ‚Technofeudalism’, Mr Varoufakis offers an intriguing perspective on the emergence of a new type of capital. Its value creation (or lack thereof) having only little in common with how it used to work before the age of Computers and the Internet.
It is especially interesting how he connects the rise of cloud capital, as he calls it, to the observable languishing of company profits and investments (demise of old capitalism).

When he starts describing how he envisions an optimal, new system, however, I am having trouble agreeing with some of his ideas that I don’t think are thought through enough.

Firstly, while bridling the immense power of the financial and technological industry is a worthwhile goal, I disagree with the complete abolition of equity markets the way the author proposes it. Equity is the most important source of funding for innovative startups which he claims he wants to keep thriving. I do not believe it can ever completely be replaced by credit, especially given the vast differences in bank and equity based funding between countries (e.g. US and Germany). In fact, why not reward the employees even more for their work in the company by giving them the opportunity to sell their share to an outsider who would like to invest? That would extend the proposed compensation scheme which in itself seems very fair and better for (almost) everyone involved.

Secondly, for some important public offices, the author suggests a random or partially random selection process.
While democratic looking at first, I believe this is where the logic falls short.
I never read that he discusses how it is guaranteed the citizens, randomly selected, are willing, let alone qualified to do the mentioned jobs. Furthermore, at one point he states there should be an election (combined with a lottery) for media executives only to later deny elections completely (!) for the county association.

It is for these (to my understanding) shortcomings in the final chapter that I deduct one star from the overall rating. All things considered, however, ‚Technofeudalism‘ is still a very worthwhile book to read! Especially if one has an interest in the history of capitalist economies and how they changed since the Industrial era.

[Nomes · Rating 4 out of 5]

This book completely changed how I view American capitalism, the economy, the world around me and the very fabric of our society. Despite loving shows like Industry and Succession, I've had a hard time wrapping my head around the economy, not helped by the fact that it's all a bunch of finance-y gobbledy-gook. Yanis Varoufakis understands that it's gobbledy-gook, and meeting me at that place, brought me to a holistic understanding of the current powers that be.

This book very easily could've become something heady and intolerable, but Varoufakis is a deeply engaging narrator, and the framing device of this book being a letter to his late father allowed me to invest my own heart into it. What follows is a startling portrait that Varoufakis is able to paint of American capitalism and Techno-feudalism, the system that is coming to replace it. With the advent of AI and the mass power accumulated by big tech, the ground under our feet feels like it's shifting. This book is required reading to understand the madness that is unfolding.

[Kathleen Bulteel · Rating 3 out of 5]

Varoufakis feels like a cousin of Harari, — both have the ability to back up their reflections with historically rich references, however Varoufakis seems to sometimes slip in a level of complexity that Harari avoids. I felt this especially in some moments where Varoufakis starts referencing past events, with somewhat of an assumption that the reader is aware of the context, and does not need explanation. On the other hand, while Harari offers a lot of historical context, I feel that he offers sufficient explanation within the book itself.

That being said, I hold Harari in high esteem, so that fact that Varoufakis made me think of Harari means that I found the book well written, and interesting. I think it's especially relevant to read in 2025, and to use as tool for reflection.

[Adam Schwalbe · Rating 2 out of 5]

I really wanted to like this book. And to its credit, it has many interesting ideas. But Yanis’s writing suffers from a lack of careful argumentation. He spends lots of time up in the 10,000 foot view of the technofeudal idea, while neglecting the nitty gritty of what his ideas mean on the ground, what their limitations are, etc.
Again, intriguing ideas, but terrible arguments backing them up.

[Nathalie Bilinsky]

Yanis is awesome. I am not rating this one because I made the mistake of listening to it rather than reading it - listening to something this dense is difficult for me so I feel I didn't do it justice.

[Jose Garcia · Rating 4 out of 5]

I thought this was an good book to creatively describe the economics we are currently living in. Was depressing because it almost seems like there's no escape or no real action plan to get out of it, but fuck it we ball I guess.

[Feli O'Garran · Rating 5 out of 5]

Varoufakis es siempre un must para entender nuestro mundo occidental

[Aleks · Rating 4 out of 5]

Very interesting and complex read.

[Esther Eastwood · Rating 4 out of 5]

Me when I understand that we are all doomed and we live in a surveillance state with no escape 💔💔💔 but rent is due on Friday

[kathryn donovan]

I miss the early days of the internet (Web 1.0), where it was a free for all -- before we became serfs bonded to our phones.

[Franco Zuzunaga · Rating 5 out of 5]

Top Tier Book. If you like the conceptualization of history akin to open veins of latin america youll like this book. It is hard to find a marxist book that offers pragmatic solutions.

[Wayne's · Rating 5 out of 5]

This is a clever book and I think there is something to his idea.

[Pat Schwanke · Rating 5 out of 5]

Great read! An economic lesson for the 21st century!

[Kimberlee John - Williams · Rating 4 out of 5]

Yanis uses a few flourishes that made me roll my eyes but generally speaking an important book to reinforce the desire to go off grid