This argument fits into the narrative of $2 trillion being spent on AI in 2026 as mega-cap tech bosses see the technology as an existential race to entrench their dominance as landlords further. Credit: WPA Pool / Getty Images“Little by little, capitalism’s two great pillars — profit and markets — are being replaced,” Mr Varoufakis says in his book on What Killed Capitalism. Today, Uber Eats as a landlord can control whether or not small restaurants in Melbourne or Sydney can reach their own customers in what Mr Varoufakis labels technofeudalism. Outside the US, the obvious problem is that national governments have little ability to rein in mega-cap tech on their own. Only, Mr Varoufakis’ natural home of the political left in the Europe Union has regularly legislated against mega-cap tech’s growing power and seeks financial penalties.