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Capitalism is breaking down, but what replaces it is not liberation—it is a new system of control. The bourgeoisie no longer relies on the state to manage society. It governs directly through platforms, monopolies, and algorithmic rule.
Tech feudalism is not the future—it is the present. Markets have been replaced with private infrastructure. The economy no longer functions through competition but through rent, access, and exclusion. Those who cannot pay, obey, or remain useful are cut off.
This is not capitalism as it was once understood. It is a return to a system where survival is conditional, where power is centralized in the hands of those who own not land, but the networks and platforms on which economic life depends.
Like every ruling class before them, they believe their power will last forever. They are mistaken.