This Machine Kills

We set up and begin discussing a paper that can be described as a Rosetta Stone for how to analyze the development, logics, mechanics, and impacts of fintech innovations from the 1980s onward — and the regulatory regime for financial markets that traces back to the New Deal. This paper is dense in the best way, so it demands (and deserves) a lot of focused time/attention. This episode establishes...

We dive back into chapter 11 – Full Circle – of The Dawn of Everything by Graeber and Wengrow. We revisit the Indigenous critique of how human civilization develops and where the political values underlying modern human societies originate. First outlined in the beginning of the book, we now further flesh out the Indigenous critique and drive home its key conclusions. Subscribe to hear more analys...

{For this week we're unlocking a classic episode} We talk about the absurdities of proptech – or the real estate technology sector – which is jam packed with out-of-control purchasing by house-flipping algorithms powered by automated valuation models that lead to balance sheets filled with liabilities and it’s all fuelled by way too much free-flowing capital. In other words, a classic recipe for d...

Paris Marx is back for part two of our discussion about their new book Road to Nowhere: What Silicon Valley Gets Wrong About the Future of Transportation. This time we dig deeper into the winding history of the electric vehicle and why today’s model of electrification without collectivization is not going to solve our problems—just cause new ones. ••• Road to Nowhere | Paris Marx: https://www.vers...

Dear friend of the show, Paris Marx, has an excellent new book just out from Verso called Road to Nowhere: What Silicon Valley Gets Wrong About the Future of Transportation. Paris is back on the show to dive into the book’s historical, grounded, critical analysis with us. This is part 1, with part 2 coming out on the patreon feed later this week. ••• Road to Nowhere | Paris Marx: https://www.verso...

In this real chill episode, the boys get loose, lay back, and just chat. We cover dental work, drug nerds, and oh yeah, that time Jereme got stabbed in Mississippi days after 9/11 for making a joke. Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Grab fresh new TMK gear: bonfire.com/store/this-machine-kills-podcast/ Hosted by Jathan S...

We have a special investigation from Professor Ed, who takes us on a journey through the history and development of innovation policy and venture capital in China. We begin with the massive government Torch Program that, starting in the 1980s, set about engineering a national innovation sector on a scale never seen before. Then in the 1990s we see China begin liberalizing its markets, opening up f...

Jathan is back from Sweden where he was giving a keynote at a smart cities conference. For this episode, Jathan delivers his keynote here — “State-as-a-Platform” – Sovereignty and Capital in Smart Governance – which is followed by a rousing discussion about the relations between agency and structure, doom and hope, positioning and maneuvering. Subscribe to hear more analysis and commentary in our...

We are joined by David Gerard – longtime critic of blockchain, even before it was cool – to discuss the experience of staring into the crypto abyss and having it stare back into you. Follow, read, and support David here: ••• Twitter: https://twitter.com/davidgerard ••• Attack of the 50 Foot Blockchain: https://davidgerard.co.uk/blockchain/book/ ••• Libra Shrugged: https://davidgerard.co.uk/blockch...

We dive back into chapter 10 – Why the State Has No Origin – of The Dawn of Everything by Graeber and Wengrow. And finish up our discussion of how different forms of social power based on violence/sovereignty, information/administration, charisma/heroic politcs all come together in different combinations at different places and points, with some features exaggerated over others, to produce radical...

We’re joined by Olivier Jutel to talk about a fantastic paper he wrote on blockchain imperialism in the Pacific. We discuss how blockchain projects and crypto entrepreneurs are partnering with the US State Department and contributing to the geopolitical agenda of American hegemony. This is all part of the Pacific Ideology – a long history of treating the Pacific islands as a colonial frontier for...

We dive into chapter 10 – Why the State Has No Origin – of The Dawn of Everything by Graeber and Wengrow. This is a massive chapter that gets deep into analyzing the features of social power and development of state institutions. We see how control of violence, control of information, and control of charisma all come together in different combinations at different places and points, with some feat...

We’re joined by Ben Tarnoff—author of Internet for the People; co-founder of Logic Magazine—to do some historical materialism on the internet. Ben has a great new book coming out that traces the political economic development of the internet, from its origins as a military network to its privatization via wholesale handover to a telecom oligopoly to its existence today as an archipelago of shoppin...

We go from talking about how AI/ML research is dominated by the resources, interests, and tradeoffs of “top labs.” Then discuss how our algorithmic agents become active participants in human culture but in ways that can be unexpected and unknowable. Together these conditions are producing a world that is far more weird, bizarre and unsettling than anybody intended. Less George Orwell, more Phillip...

We are joined by Bennett Tomlin and Cas Piancey, hosts of the great podcast Crypto Critics’ Corner, for a deeper dive into stablecoins—a cornerstone // time bomb of the crypto financial system. They explain how stablecoins, and specifically Tether, have become systemically important to the workings of the system and the wealth of big players, creating too big to fail institutions that continue gro...

We dive into chapter 9 – Hiding in Plain Sight – of The Dawn of Everything by Graeber and Wengrow. We discuss the utopian experiment of Teotihuacan in Mesoamerica 2000 years ago: a city that revolted against authoritarian rule and instituted a socialist system, complete with universal housing and democratic governance, which lasted for hundreds of years. Subscribe to hear more analysis and comment...

(While Jereme works to overcome a technical problem from our last record, we are unlocking an episode.) We continue our discussion of Hilary Allen’s paper on DeFi and shadow banking and dive into her comparative analysis between Wall Street and Silicon Valley. We see how there are direct analogues between the kind of financial innovations and systemic fragilities that led to the 2008 crash and the...

(Sorry for the delay!) We comb through Andreessen Horowitz’s inaugural 2022 State of Crypto Report, devoting more time and attention to discussing its claims and framing than it should warrant. But considering the outsized influence a16z has here, they force us to take seriously even their most inane fever dreams. In the process of reviewing the report, we receive a masterclass in how to lie with...

We check in on our old friend / enemy / mentor, Masayoshi Son, and see how the SoftBank Vision Fund has been faring over the last year. The Masa multiplier effect is his ability to amplify the state of the larger tech sector. When it’s good, it’s really good. But when it’s really bad—in the way tech sector valuations have been dropping this year—oh boy, it’s enough to make you want to [redacted]....

We dive into chapter 8 – Imaginary Cities – of The Dawn of Everything by Graeber and Wengrow. We talk about the origins of cities and contradict the commonly held belief that proto-state governance—e.g. centralized, hierarchical administration—developed in tandem with urban society. Instead, early cities existed for hundreds of years, organized by bottom-up self-governance, before the palaces and...

We review China’s hard, fast, and big regulatory responses to big tech’s rising power over the last year, discuss the vastly different political theories motivating tech policy in the US, Europe, and China, and look ahead for what’s to come as China unveils a new set of sweeping, world leading regulations for AI decision-making. Some stuff we reference: ••• China’s Tech Crackdown: A Year-in-Review...

We continue our discussion of Hilary Allen’s paper on DeFi and shadow banking and dive into her comparative analysis between Wall Street and Silicon Valley. We see how there are direct analogues between the kind of financial innovations and systemic fragilities that led to the 2008 crash and the crisis dynamics of DeFi: overleveraging and crypto tokens; rigidity and smart contracts; bank runs and...

We discuss an extremely good paper by law professor Hilary J. Allen – DeFI: Shadow Banking 2.0 – which lays out a very clear, critical, and comparative analysis of the unregulated financial instruments that led to the 2008 global financial crash and their systemic similarities to the unregulated financial innovations that are emerging in DeFi / Web3. In this first part, we lay out the causes of th...

We dive into chapter 7 – Ecology of Freedom – of The Dawn of Everything by Graeber and Wengrow. In which we discuss the tragedy of the commons, ecological imperialism, flirtations with farming, domestication of plants and animals, dangers of teleological reasoning, and much more. Subscribe to hear more analysis and commentary in our premium episodes every week! patreon.com/thismachinekills Grab fr...

We take a walk on the weird side as a brief reference to the novel Guns of the South by Harry Turtledove—a graphomaniac author of alternative histories and all around beautiful mind—leads us down a rabbit hole of increasingly bizarre discoveries. Enjoy a little something different from our normal programming… Subscribe to hear more analysis and commentary in our premium episodes every week! patreo...