this post was submitted on 04 Sep 2025
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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.