These so-called "lords of the air" (Echevarría, J. 1999, Lords of the Air), rather than selling products in a free market, control the spaces where we work, shop, socialize, and play (such as Instagram, YouTube, or app stores). These spaces are not true markets; they are closed platforms governed by rules designed around their own interests.

Just like in medieval feudalism, there are feudal lords (the owners of the platforms), vassals (small businesses that depend on platforms like Amazon), and serfs (those of us who use and feed these platforms).

This new digital order not only transforms the economy, but also the way we interact, work, and access information. Platforms, by controlling data, algorithms, and digital infrastructures, shape our decisions, preferences, and behaviors. Thus, power no longer lies primarily in the ownership of factories or natural resources, but in the control of information and access to digital environments. This grants the “lords of the air” an unprecedented level of influence in recent history.

Here’s a more schematic comparison to help you better understand this concept:

Feudalism (The Middle Ages)

• Economic Basis: Agriculture and land ownership.
• Social Relations: Feudal lords dominate the peasant serfs.
• Production: Agricultural labor for subsistence, with part of the production given to the lord.
• Source of Power: Territorial and military control over large areas of land.
• Markets: They’re not very important; almost all production is for self-consumption.
• Technology: Very limited; advances are slow (e.g., the plow, the water mill).
• Circulation of Wealth: It is stagnant; wealth does not circulate much and is concentrated in castles and monasteries.
• Individual Autonomy: Very low; serfs are tied to the land and have no social mobility.
• Form of Extraction: There are personal obligations (labor, goods) owed to the feudal lord.

Technofeudalism (according to Varoufakis)

• Economic Basis: Ownership of digital platforms (what is referred to as cloud capital).
• Social Relations: Platform owners dominate users and connected workers.
• Production: Digital labor (data, content, interactions) that generates value for the platforms.
• Source of Power: Control over digital networks, data, and online access.
• Markets: They are simulated; in reality, platforms operate as closed fiefs (e.g., giants like Amazon or Apple).
• Technology: Highly advanced; AI, big data, cloud servers.
• Circulation of Wealth: Very high for the "owners of the cloud"; precarious for the majority.
• Individual Autonomy: Also low; we depend on platforms for work, shopping, and socializing.
• Form of Extraction: Digital rent (access to the cloud, commissions, algorithms that capture attention and unpaid labor).