As recently as the early Nineties, when the great cities of the Midwest and East Coast were careening toward what seemed like an inevitable downturn, the urban agglomerations along the Pacific coast offered a demonstrably brighter urban future. From San Diego to the Puget Sound, urban centers along America’s western edge continued to thrive and expand as migrants from other parts of the country, and the world, crowded in.
By: Dr. Kate Devlin
On: The Bunker
Are we witnessing the death of Silicon Valley as big tech shifts from physical products to services? And has the time of California being the promised land for budding tech bros gone? Dr. Kate Devlin is joined in The Bunker by Joel Kotkin, fellow in urban studies at Chapman University, to find out. Read more
By: Freddy Gray
On: The Spectator
Freddy Gray speaks to Joel Kotkin who is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. On the podcast, they discuss the collapse of Silicon Valley. With mass layoffs in the tech sector and a post-pandemic real estate downturn, Kotkin argues the Valley is entering a period of long-term decline – but can it come back from this?
Produced by Natasha Feroze.
The collapse of Silicon Valley Bank, the second largest in US history, is raising concerns about a “contagion” that could trigger a financial panic. Read more
Conservatives often see prospective presidential contender Gavin Newsom as a tool of the far Left—and, as such, politically doomed by the seemingly endless crises afflicting California. Yet the Golden State governor is a more formidable candidate than this portrayal suggests. Rather than being a progressive windup doll, the 54-year-old is in fact a skilled political opportunist, with far less dogmatically left-wing views than most of his party’s legislative delegation. He would have no qualms abandoning unpopular progressive stances to pursue the goal of succeeding a doddering President Joe Biden.
On: Leighton Smith Podcast
By: Host, Leighton Smith
Joel Kotkin, described according to The New York Times, is America’s uber-geographer. Kotkin is an internationally recognised authority on global, economic, political and social trends.
We talk to him about what is now brewing in Silicon Valley, proposed in Toronto and implemented in China, that could be the role model for our future urban civilization.
After an introduction, Joel’s interview starts at about 7:57
The record meltdown of Meta stock earlier this month suggests turbulence in the tech world and a difficult period ahead for the company formerly known as Facebook. But even as Meta’s stock has fallen, the record profits being posted by fellow oligarchical tech firms Google, Microsoft, Apple, and Amazon indicates that Silicon Valley’s hegemony is far from over. Read more
Enthusiasts of “the new economy” long cherished the notion that it would be different from the unenlightened, sluggish, and piggish older one. Yet our economy seems increasingly to resemble not some hippy capitalist utopia, but the deeply concentrated economy of pre-war Japan.
At the time, Japan had developed an economic model around a handful of large corporate conglomerates called zaibatsu. Organized as a “financial clique,” with a bank at the center, these firms extended their interests into virtually all economic activity. They included Mitsui, Mitsubishi, Sumitomo, and Yasuda. Mitsubishi led the way in shipbuilding, steel, and of course aircraft, being the creator of the famous Zero fighter.
Many have understandably applauded Facebook’s decision to ban former President Donald Trump from the site for the next two years, but the ability of a company to decide who should be in the public square, which the social network has effectively become, raises troubling questions about the future of our tattered democracy.
The decision was announced by Nick Clegg, the former deputy prime minister of the United Kingdom who’s now the vice president of global affairs at the social network, but there’s no question that the final call here belonged to Facebook’s co-founder, chairman, CEO, and controlling stockholder.
Not long ago, Mark Zuckerberg was a kind of folk hero to many Americans, a nerd who made billions with an idea developed at a Harvard dorm. He was a firm believer in free speech as recently as 2019, even to the point of offending the progressive cognoscenti. All that has changed, along with the political currents.
His free speech views faded when they became a threat, rather than a boon, to his bottom line. Now, rather than being seen the way he wants to be, as an open-minded entrepreneur and even a potential presidential candidate, Zuckerberg finally stands exposed as a leading member of the new techno-aristocracy manipulating the world and shaping our society to fit their own world view, while getting ever richer in the process.
This ascendency offers little for most Americans, even as Americans have provided so much to Zuckerberg and his ilk as tech has become ever more concentrated and monopolistic, putting a lie to the heroic myth of “a guy and a garage.” Since 2019, Facebook, Apple, Amazon, Microsoft, and Google have added more than two and a half trillion dollars to their valuation, including record-breaking profits in 2020 as the pandemic shut down much of the in-person economy, while workers and consumers have faced stagnant incomes and purchasing power.
This is, as the left of center American Prospect put it, “predatory capitalism.”
This accrual of power relies on having influence in Washington. Quasi-monopolies like Facebook could never have grown into such behemoths if not for the willingness of regulators, in both parties, to let them buy potential competitors like Instagram, Oculus, and WhatsApp. Taking a proactive approach, Zuckerberg put several fingers on the scales to assure the defeat of the less controllable Trump by financing Election Day operations in many critical states through an obscure Chicago based front group, the Center for Tech and Civic Life, which used its Facebook windfall to fund election offices, and staffers, around the country.
Facebook itself, along with Twitter, also de-platformed the New York Post, America’s oldest newspaper, to keep information about Hunter Biden’s laptop from circulating. And both sites booted Trump himself, a stance that horrified those like German Chancellor Angela Merkel and Russian dissident Alexei Navalny who have lived under autocratic regimes.
Read the rest of this piece at Daily Beast.
Joel Kotkin is the author of The Coming of Neo-Feudalism: A Warning to the Global Middle Class. He is the Presidential Fellow in Urban Futures at Chapman University and Executive Director for Urban Reform Institute. Learn more at joelkotkin.com and follow him on Twitter @joelkotkin.
Homepage photo: Anthony Qunitano, via Flickr under CC 2.0 License.
For the past half-century, California has dominated America’s tech industry. From the development of precision farming to the incubation of aircraft, space, semiconductors and computer systems, this state has emerged time and again at the cutting edge of future industries. Read more
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Fred Murphy, used under CC 2.0 License
