Technofeudalism

Technofeudalism describes a modern economic system where large technology companies exercise power similar to feudal lords, controlling digital platforms, data, and online markets rather than land, while smaller businesses and users depend on these platforms for economic participation. The concept emerged independently in both information technology and economics fields starting in 2012, and has been developed by thinkers like Yanis Varoufakis and Cédric Durand, who argue that companies like Google, Amazon, Facebook, and Apple have concentrated power that stifles competition and extract wealth from creators. Key characteristics include platform control by large companies, user dependence on Big Tech rules, data ownership by tech corporations, and limited competition among smaller businesses.