"The primary source of this capital is #Google, which pays Mozilla to be the default search engine on the Firefox home page. Those payments, which started in 2005, have been increasing—up 50% over the past decade,...
...to more than $450 million, even as the total number of #Firefox users has plummeted. In 2021 these 👉payments accounted for 83% of #Mozilla’s revenue.👈"
That in conjunction with @aniltj's recent statement:
The #US' digital..."...economy is dominated by five aging tech giants – #Alphabet, #Amazon, #Apple, #Meta, and #Microsoft. In the last twenty years, no company has commercialized a new technology in...
what about #nvidia they have joined the big boys club, Feb 14, 2024
Nvidia market cap threatens Alphabet after overtaking Amazon
Nvidia's shares are $1.78 trillion, eclipsing Amazon's $1.75 trillion value
Nvidia was on #theverge of overtaking #alphabet as the dominant artificial intelligence chipmaker ended the day with a market capitalization above Amazon's for the first time in two decades
True, however, #NVIDIA is now facing a serious contender whose staggering comeback has already surpassed the market capitalization of #Intel, #AMD. Its CEO, #LisaSu, is a genius:
But, when I look at her next to those powerful PCs, I realized I'm a 100% #androidtablet (12.4in) user 😁 now
“important to decide what you are really, ⭕really good at
"WE made a big ⭕bet on high performance, powerful #cpu graphics chips #ai super computing and other #bleedingedge technology and OFTEN ⭕undercutting competitors on price
That's an amazing turnaround considering that they were on the brink of bankruptcy. A friend who works for AMD told me it was only the settlement AMD got from Intel over the kickback scheme that allowed it to survive. (It was that Intel scheme that put them at the brink, btw.)
Dr. Su did a great job leading them out of that crisis too.
@HistoPol@cloudguy@aniltj@ploum They already have it. They established a VC fund of $30m seed money. They are now going for profit steered by that money.
Thanks, Lauren. I was sort of expecting that news.
I despair that globally important projects that were public domain to start this can taken private and for-profit with the blink of an eye, like #OpenAI and now #Mozilla.
There is no reasonably secure browser left now to surf the www. 😞
They have been coopting disruption (in the #Schumpeter sense.)
But the surely did not invent it. E.g. in the 1980's, the leading noise-teduction equipment maker, #DolbySystems, acquired the most advanced producer of a better system, #HIGHCOM.
They bought it and they shelved it.
@HistoPol@cloudguy@aniltj@ploum I am talking about the late 90s and early 2000s when seed money meant exactly that. It was used to drive whole company development, not to tank a working established concept and throw it at a trend.
@HistoPol@cloudguy@aniltj@ploum I don't think buying up your competition is seed money by definition. But I agree the corporations have used their piggy banks to destroy decent technology.
@noondlyt
Me neither.
But this is where we are now.
Also, without looking it up:
@timnitGebru had a thread some months ago about #SiliconValley finance and how you needed to be in the #TECREAL community to get any real founding--and a white male "bro."
I'm not sure if was in here article or another, but it seems that only one tech woman ever made it into that billionaires' club by her own merit and not through marriage.
@GhostOnTheHalfShell@cloudguy
I recently watched an interview w/ the author of #Technofeudalism. I think he used to be economics minister of #Greece.
Is it about that book?
I can agree with many of his conclusions.
However, his knowledge of pre-industrial society is rudimentary, and the initial assumptions were, not rarely, simply wrong.
I guess you also studied mathematics, at least in high school. If you proof a thesis and make wrong deductions at some point, the whole conclusion is in doubt
Yanis. Yes! That's the guy.
Medival and history of antiquity 🤦♂️
So many mechanisms already had been in place, at least in some regions, for longer periods of time.
I refer to a lengthy YT interview I watched. Too many to fact check.
Maths! LOl
Excellent, so you know exactly what I meant.
How do you use the word "axiom" here precisely?
I remember Newtons Firs Axiom from physics, but searching only leads to higher-level
The thing is, as you know from mathematics better than me, sometimes people arrive at the right conclusions despite having made 1 or 2 wrong deductions in-between.
👋
//
The bad thing is, I would actually agree with the systemic descriptions and the connotations of #TechnoFeudalism. If you factor in the #TESCREAL dimension of #Elmo and the #PayPalMafia et al, you even gave the medieval "beliefs" dimension. And no-one will argue that if you receive millions of dollars of seed capital, you owe your #liege aka #VC#fealty. And, yes they collect rent, and yes, they either inherited the "rights" or acquired them, charging rent.
@GhostOnTheHalfShell@HistoPol
The 20th century intellectual project of giving economics a scientific basis was doomed from its inception.
Empirical measurements in economics are not empirical. Inflation, profits, share prices, unemployment, GDP, et al are not independent physical realities - they are created social constructs. No Laws govern them except the ones we create.
Economics, considered as a science, is more akin to literary criticism than thermodynamics.
@GhostOnTheHalfShell
I was hesitant to write it.
The interview was more than an hour.
I'd probably need a half a day-1 d to refute it.
Alas, don't have that time.
It would be interesting, though.
After that much time, I'd want to write an article.
And from the time I see the PhD students invest in their's, we are talking weeks.
The bottom line is: many of the mechanisms he claims did not exist had existed before. Also: the #MiddleAges are not called the #DarkAges for nothing...
...not only, but also the #Inquisition destroyed so much knowledge, which partially/not rarely survived in #Arabic translations , so we know about it again nowadays.
Also, to be fair to him, I'd need to read his book, as we all tend to simplify things orally/in interviews.
Yes, #Technofeudalism is def. worth a try. It is a bit peculiar for an economics #book, reminds me of "What unites us" by #DanRather style wise, but #Yanis aroufakis tells the story great enthusiasm and conviction.
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