No, it’s exactly how capitalism works and the narratives like technofeudalism claiming that we live in some post-capitalist neo-feudalism is nonsense.
There’s a concept of fictitious capital, which is different from other types of capital in that it doesn’t exist yet - it’s a claim to income generated in future production. It’s nothing new, Marx for example wrote about this in Capital (written in second half of 1800, almost 200 years ago).
Besides, a lot of tech companies do report losses because they put most of their profits in R&D, both to avoid taxes and probably develop new products along the way. It isn’t an unfounded investment.
No, it’s exactly how capitalism works and the narratives like technofeudalism claiming that we live in some post-capitalist neo-feudalism is nonsense.
There’s a concept of fictitious capital, which is different from other types of capital in that it doesn’t exist yet - it’s a claim to income generated in future production. It’s nothing new, Marx for example wrote about this in Capital (written in second half of 1800, almost 200 years ago).
Besides, a lot of tech companies do report losses because they put most of their profits in R&D, both to avoid taxes and probably develop new products along the way. It isn’t an unfounded investment.