‘Capitalism has to become more humane’: a Stanford economist on big tech, power hoarding and democracy

According to Stanford economist Mordecai Kurz, tech billionaires are concentrating technological power in a way that weakens democracy, similar to patterns seen during industrialization and the first Gilded Age. Kurz argues that tech moguls often see themselves as superior beings meant to reshape society, citing examples like Anthropic's CEO claiming AI could become a transcendent good while potentially causing mass unemployment.