The Corporatization Of Everything (Serfdom In Our Time), by Paul Rosenberg

“You will own nothing and be happy” is a blueprint for your serfdom. From Paul Rosenberg at freemansperctive.com:

I’m quite serious about the serfdom part. Please read on.

If you want millions of dollars thrown at your new company, the way to do it is in “tech,” which usually means a new Internet service. If you can find a way to suck a new part of people’s lives from the world of atoms to the world of data, your odds are good… far greater than trying to launch a construction company.

For the construction company you’ll have to beg for loans. For a clever new Internet service, Venture Capitalists (VCs) with huge wallets will happily listen to your pitch.

Here, in brief, is how this works:

• Most of the things VCs fund will fail, but the ones that work (the “unicorns”), can make them fortunes.

• The VCs end up owning most of the equity in the companies they finance. The people who start and operate the company bleed more equity with each new round of financing.

• The VCs cash in when they take companies public. Once listed on the stock exchanges and promoted, people will pay enormous multiples of what those companies actually make. Lots of unicorns have sold billions of dollars worth of shares without ever turning a dollar of profit. The investing psychology of the age is such that people are eager to buy these stocks.

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