change edition: When Facebook and Google finally destroy the competition, a new age of feudalism will arrive Knowledge is power: An IT technician checks a network server. Photograph: Juice Images/Alamy Sunday 24 April 2016 04.00 EDT Are we facing another tech bubble? Or, to put it in Silicon Valley speak, are most unicorn startups born zombies? How you answer these questions depends, by and large, on where you stand on the overall health of the global economy. Some, like the prominent venture capitalist Peter Thiel, argue that virtually everything else – from publicly traded companies to houses to government bonds – is already overvalued . The options, then, are not many: either stick with liquid but low-return products such as cash – or go for illiquid but potentially extremely lucrative investments in tech startups. If true, this is good news for Thiel and his peers, especially at a time of negative interest rates. And for the rest of us? Well, we are probably doomed.
Read full article from Welcome to the new feudalism – with Silicon Valley as our overlords | Evgeny Morozov | Opinion | The Guardian
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