Is this really an accurate description of big tech? That doesn’t match my impression of Amazon for instance. I suppose FB has been machine learningized, but there wasn’t a market there to begin with nor is particularly clear to me that FB is exploitative in a labor sense (10$ profit per year per user in the US) regardless of any other ethical considerations. The algorithm does rule social media, but it always has and we’ve seen monopolies in all forms of media in the past. Social media’s influence has grown, but it only partially overlaps with big tech. Apple does have a closed garden (kingdom), but they are mostly in the business of making really good phones. Does this theory have any unique predictive power? Like, big tech has some problems, social media has some problems, and the fed has some problems - they sometimes intersect in interesting ways but not in the sense of a grand narrative.