Stay ConnectedA podcast about technology and political economy /// Agitprop against innovation and capital /// Hosted by Jathan Sadowski and Edward Ongweso Jr., Produced by Jereme Brown /// Hello friends and enemies
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This episode is from a guest appearance by Jathan on 4ZZZ Radio Reversal, a community radio show in Brisbane, hosted by great friends of TMK and critical scholars: Anna Carlson and Natalie Osbourne. We had a really fun conversation talking about the ramping up of workplace surveillance, labor organising in the tech sector, the political economy of academia, and luddism as liberation. Enjoy! Check out 4ZZZ (4zzzfm.org.au) and follow Radio Reversal (twitter.com/RadioRevers), Natalie Osborne (twitter.com/DrNatOsborne), and Anna Carlson (twitter.com/annajcarlson) Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills TMK shirts are now available here: bonfire.com/mech-luddite/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
Okay, so the big boat is no longer blocking the Suez Canal. But that doesn’t mean we can go back to ignoring the global networks of capitalism and colonialism that make our world run. Laleh Khalili – author of the brilliant new book, Sinews of War and Trade: Shipping and Capitalism in the Arabian Peninsula – joins us for a wide-ranging discussion of her rich, historical analysis of global shipping, imperialist infrastructure, and technological fantasy. Grab Laleh’s book: versobooks.com/books/3172-sinews-of-war-and-trade Follow Laleh: twitter.com/LalehKhalili Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills TMK shirts are now available here: bonfire.com/mech-luddite/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
Premium – 57. The Arbiters of Asset Allocation We pick back up on our discussion of market indices and index providers, honing in on the close relationship they have with asset managers, how they exercise private authority by setting standards for corporate governance and evaluating the worthiness of “emerging markets,” and the need to reckon with the authority these kingmakers of finance—these arbiters of asset allocation—have in the world today. Who gave them this great power? Not me! Not you! And yet, here they are, with the ability to wave a wand, change a classification, and magically, instantly, automatically make billions of dollars move from one place to another. Article we discuss: • Steering capital: the growing private authority of index providers in the age of passive asset management | Johannes Petry, Jan Fichtner, Eelke Heemskerk | Review of International Political Economy: https://www.tandfonline.com/doi/full/10.1080/09692290.2019.1699147 Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
This week’s episodes are part of our ongoing, irregular series where we dive into the deepest, darkest crevices of how financial and technological capital operates today. In a sequel to our episodes on index funds and asset managers — the big three of BlackRock, Vanguard, and State Street — we examine the other side of this unholy marriage: market indices and index providers. If the index funds are like the treasury of global capitalism, holding and managing trillions in assets, then the index providers are like the executive branch: making decisions that directly and automatically cause mass movements in capital investment. We build on a fantastic new paper (ref below) investigating the private authority of this largely ignored industry to “steer capital.” As political economists, we are only just now starting to recognize, let alone reckon with, the power that index providers possess in contemporary financial capitalism — an industry that is weirdly coincidentally also concentrated in just just three firms: S&P Dow Jones, FTSE Russell, and MSCI. Article we discuss: • Steering capital: the growing private authority of index providers in the age of passive asset management | Johannes Petry, Jan Fichtner, Eelke Heemskerk | Review of International Political Economy: https://www.tandfonline.com/doi/full/10.1080/09692290.2019.1699147 Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
cw: we discuss school shootings and sexual assault in the second half of this episode. Cold open: We need to talk about AI ethics (H&M): https://www.youtube.com/watch?v=m0x0zsVlp30 Sometimes you just gotta confront the absurdity of it all head-on. We give y’all a news feed roundup as we discuss some of the most inane tech stories that crossed our desks this week. Which all hang together by the ridiculous notion that the most pressing problems in society will be solved through a commitment to engaging in endless debate and downloading the right app. Some stuff we reference: • Meet Linda Leapold, Head of AI Policy for H&M | https://hmgroup.com/news/meet-linda-leopold-head-of-ai-policy/ • ‘Enough is enough’: South Mississippi man creates desk to keep children safe during school shootings | https://www.fox8live.com/2021/02/15/enough-is-enough-south-mississippi-man-creates-desk-keep-children-safe-during-school-shootings/ • Cameras Watching Students, Especially in Biloxi | https://www.nytimes.com/2003/09/24/nyregion/cameras-watching-students-especially-in-biloxi.html • NSW police commissioner admits his sex consent app proposal 'could be a terrible idea' | https://www.theguardian.com/australia-news/2021/mar/18/critics-ridicule-nsw-police-commissioners-idea-for-sexual-consent-app Subscribe to hear more analysis and commentary in our premium episodes every week! http://patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
The great Aaron Thorpe — co-host of Trillbillies, host of A Time of Monsters, the poster formerly known as posadist_trapgd — joins us for an extremely fun episode as we riff about why aliens would be communists, the paranoid imagination of imperialism, the wonders of luxury surveillance, the spectacle of convenience, and the ways tech companies really do be manufacturing consent. • Follow Aaron on twitter: twitter.com/thotteusstevens • Listen to Trillbillies: patreon.com/trillbillyworkersparty • Listen to A Time of Monsters: patreon.com/atompod Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
We go in on the dangerous obsession that billionaires like Bill Gates have with framing the most existential risks in society, from public health to climate catastrophe, as problems of market failure that can be solved through clever engineering, technological innovation, and property rights. All of which are best administered by who? You guessed it: “hundreds of Elon Musks.” They come preaching salvation, while in reality they are practicing necropolitics—or, the power to decide who may live, who must die, and in what ways for which reasons. Some stuff we reference: • How Does Bill Gates Plan to Solve the Climate Crisis? | by Bill McKibben https://www.nytimes.com/2021/02/15/books/review/bill-gates-how-to-avoid-a-climate-disaster.html • The Dark Side of Bill Gates’s Climate Techno-Optimism | by Kate Aronoff https://newrepublic.com/article/161533/bill-gates-climate-vaccines TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Subscribe to hear more analysis and commentary in our premium episodes every week! http://patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
It’s time for a TMK fact check: coronavirus vaccine edition. We give five out of five pinocchios to the claim that Big Pharma won’t profit hand over fist from the production of vaccines. Five pinocchios to the claim that countries in the Global South will receive fair and cheap access to vaccines and treatments. And an unprecedented six out of five pinocchios to the claim that inequities in healthcare are actually market failures solved by stronger intellectual property rights for pharmaceutical corporations. Some stuff we reference: • Fact-check: Will poor countries miss out on COVID-19 vaccinations? | Deutsches Welles https://www.dw.com/en/fact-check-will-poor-countries-miss-out-on-covid-19-vaccinations/a-55886334 • Canada's COVAX program use draws criticism for unequal vaccine distribution | Yahoo Canada https://news.yahoo.com/canada-covax-unequal-vaccines-205249650.html • Big Pharma Prepare to Profit from the Coronavirus | The Intercept https://theintercept.com/2020/03/13/big-pharma-drug-pricing-coronavirus-profits/ • Big Pharma’s Covid-19 Profiteers | Rolling Stone https://www.rollingstone.com/politics/politics-features/big-pharma-covid-19-profits-1041185/ • The Remaking of Big Pharma in a Post-Pandemic World | Foreign Policy https://foreignpolicy.com/2020/04/17/big-pharma-post-pandemic-world-coronavirus-vaccine-cure-intellectual-property/ TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Subscribe to hear more analysis and commentary in our premium episodes every week! http://patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
Cold open: CNBC turns on Chamath and Clover: https://www.youtube.com/watch?v=MRWnxUsyVDg We pick back up on the story of Clover Health—which is sure to be a business school case study of investors beware—and talk through Hindenburg Research’s damning report that raises a number of very serious concerns about Clover Health’s business practices, undisclosed Department of Justice investigation, alleged conflicts of interests, and the CEO of Clover’s past experience busting out hospitals in New Jersey. The allegations against Clover are not just an exception, but rather a perfect encapsulation of the corporate chicanery that spreads, like a weed strangling the economy, when a thousand SPACs bloom. TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Subscribe to hear more analysis and commentary in our premium episodes every week! http://patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
Cold open: Chamath, Clover, CNBC https://www.msn.com/en-us/music/video/chamath-palihapitiya-addresses-some-concerns-surrounding-clover-health-spac/vp-BB19KRae SPACs are blowing up. Everywhere you turn, it’s SPAC this, SPAC that. What the frack is a SPAC? After an explainer on this cool new financial innovation, we dive into a juicy story of a SPAC in action – SPACtion, if you will – Clover Health. This hot new insurtech company is being taken public by a SPAC sponsored by Chamath Palihapitiya, famed venture capitalist, wannabe California governor, so-called King of SPACs. But as a long, in-depth report by Hindenburg Research details, could Clover Health be riddled with the kind of corporate malfeasance, deception, and fraud that might lead shrewd entrepreneurs to avoid the disclosures and scrutiny that come with going public the old fashioned way? Are things like "public disclosure" and "business fundamentals" actually socialist plots to destroy capitalism? We detail the allegations against Clover Health made by Hindenburg Research’s investigation. Some stuff we reference: • What Are SPACs, the Trend Blowing Up the Finance World? | Ed Ongweso Jr. https://www.vice.com/en/article/4ade7b/what-are-spacs-the-trend-blowing-up-the-finance-world • Clover Health: How the “King of SPACs” Lured Retail Investors Into a Broken Business Facing an Active, Undisclosed DOJ Investigation | Hindenburg Research https://hindenburgresearch.com/clover/ TMK shirts are now available here: https://www.bonfire.com/mech-luddite/ Subscribe to hear more analysis and commentary in our premium episodes every week! http://patreon.com/thismachinekills Hosted by Jathan Sadowski (twitter.com/jathansadowski) and Edward Ongweso Jr. (twitter.com/bigblackjacobin). Production / Music by Jereme Brown (twitter.com/braunestahl)
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