How Musk, Thiel, Zuckerberg, and Andreessen—Four Billionaire Techno-Oligarchs—Are Creating an Alternate, Autocratic Reality

Taplin, the educator, writer (Move Fast and Break Things), and film producer (Mean Streets, The Last Waltz), is director emeritus of USC’s Annenberg Innovation Lab. His peripatetic career includes stints as tour manager for Bob Dylan and the Band, VP of media M&A at Merrill Lynch, professor at USC, and founder of the pioneering video-on-demand company Intertainer.

Four very powerful billionaires—Peter Thiel, Elon Musk, Mark Zuckerberg, and Marc Andreessen—are creating a world where “nothing is true and all is spectacle.” If we are to inquire how we got to a place of radical income inequality, post-truth reality, and the looming potential for a second American Civil War, we need look no further than these four—“the biggest wallets,” to paraphrase historian Timothy Snyder, “paying for the most blinding lights.”

I call them the Technocrats, in recognition of the influence of the technocracy movement, founded in the 1930s by Elon Musk’s grandfather, Joshua Haldeman. The Technocrats make up a kind of interlocking directorate of Silicon Valley, each investing in or sitting on the boards of the others’ companies. Their vast digital domain controls your personal information; affects how billions of people live, work, and love; and sows online chaos, inciting mob violence and sparking runs on stocks. These four men have long been regarded as technologically progressive heroes, but they are actually part of a broader antidemocratic, authoritarian turn within the tech world, deeply invested in preserving the status quo and in keeping their market-leadership positions or near-monopolies—and their multi-billion-dollar fortunes secure from higher taxes. (“Competition is for suckers,” Thiel once posited.)

Indeed, they are American oligarchs, controlling online access for billions of users on Facebook, Twitter, Threads, Instagram, and WhatsApp, including 80 percent of the US population. Moreover, from the outside, they appear to be more interested in replacing our current reality—and our economic system, imperfect as it is—with something far more opaque, concentrated, and unaccountable, which, if it comes to pass, they will control.

I use the term techno-determinism to describe the path the Technocrats have dictated for our country because they have sold, and we have bought into, the idea that they are going to deliver us a bright future. The future they are now selling us, however—crypto fortunes, the merger of the human and the computer via AI, the prospect of spending our lives in the Metaverse or on Mars—is a lie. To quote Snyder once more, Donald Trump has shown that he “was lying not so much to deny the truth as to invite people into an alternative reality.” Such sleight-of-hand applies here as well. The alternative reality that these men are focused on is a world of technodeterminism, one in which AI may eventually do all the real work and a large number of humans may be rendered useless to society.

Source : https://dnyuz.com/2023/08/22/how-musk-thiel-zuckerberg-and-andreessen-four-billionaire-techno-oligarchs-are-creating-an-alternate-autocratic-reality

Jeff Bezos’ wealth balloons by $12 billion as Amazon stock soars 11 percent

Amazon founder Jeff Bezos saw his personal net worth increase by a whopping $12 billion on Friday morning as the e-commerce giant’s stock price soared by some 11% in pre-noon trading — the largest single-day jump so far this year.

The Seattle-based company, whose stock was trading at nearly $143 per share as of 11:30 a.m. Eastern time on Friday, surged after dazzling Wall Street with an earnings report that blew away analyst expectations.

Bezos, the third richest person in the world behind Tesla and X mogul Elon Musk and luxury brand merchant Bernard Arnault, is now worth an estimated $163.5 billion, according to Forbes.

The 59-year-old Bezos, who stepped down from the CEO role at Amazon in late 2021 so that he could focus on his space exploration firm Blue Origin, derives his wealth from ownership in Amazon stock.

He has also spent much of his free time globetrotting on his $500 million yacht with fiance Lauren Sanchez after the couple got engaged in May.

The 59-year-old Bezos, who stepped down from the CEO role at Amazon in late 2021, derives his wealth from ownership in Amazon stock. He is seen with his girlfriend Lauren Sanchez.
AFP via Getty Images

Bezos, who still serves as Amazon’s executive chairman, owns around 992.6 million shares, according to the company’s filings with the SEC.

Amazon, which added about $120 billion to its market value, surged on Friday on signs that both its growth engines, e-commerce and cloud-computing, were faring well in an uncertain economy, helping shield the broader market from Apple’s 2.5% slide after gloomy iPhone sales.

Amazon stock was trading at nearly $143 per share as of 11:30 a.m. Eastern time on Friday.

The company’s sales grew 11% to $134.4 billion in the second quarter — an increase from $121.2 billion during the second quarter of a year ago.

The sales figures blew away analyst predictions of $131.4 billion.

Amazon also reported a sharp increase in profit as its net income reached $6.7 billion in the second quarter — a far cry from the $2 billion net loss of the second quarter last year.

Amazon dazzled Wall Street with an earnings report that blew away analyst expectations.
REUTERS

Amazon Web Services, the money-making cloud computing division, generated $22.14 billion in sales — surpassing analyst estimates of $21.71 billion.

Source: https://nypost.com/2023/08/04/jeff-bezos-wealth-balloons-by-12b-as-amazon-stock-soars-11/

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