Amazon, Meta, and OpenAI wield tremendous influence over our politics, but does this mean we are entering an era of technofeudalism? In a wide-ranging discussion, Evgeny Morozov and Cedric Durand ask how we ought to understand contemporary capitalism.

When Donald Trump was sworn into office in January, he was flanked by Jeff Bezos, Mark Zuckerberg, and a collection of other tech billionaires. For some, this moment symbolized a fusion of economic and political power that bore a closer resemblance to premodern feudalism than capitalism as we know it. Instead of outcompeting rivals, these individuals used their political influence to shape regulations, enabling tech monopolies such as Amazon, Google, and Meta to profit by extracting rents from users. Within this new post-2008 world, profit n

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