Kuala Lampur, Aug. 8 -- Yesterday, while a thunderstorm raged over Kuala Lumpur, another kind of storm was brewing inside the historic Majestic Hotel. In a small room filled with thinkers, activists, and policymakers, Yanis Varoufakis - economist, author, and former Greek finance minister - warned of a storm far more dangerous than thunder or rain. He called it techno-feudalism.

Varoufakis argues that capitalism as we know it is being replaced. The new system is not socialist, not democratic, and not even recognisably capitalist. It is something older, darker, and more hierarchical: a return to feudalism. Only this time, the castles are the cloud servers of Big Tech, the lords are corporate oligarchs, and the new serfs are us - the users...