Right, so you start bribing the decider with some of your allotted resources to get access to others, and OMG we have a black market. Who'd have thunk it? I actually agree with him (to some extent) here: However, I totally disagree with his prognosis. I think it basically means that FB, Twitter and the like have vastly inflated share prices, and eventually they will have a reckoning. But then, what the fuck have FB, Twitter and Instagram ever made? Nothing, to put it bluntly. They are easily replaceable compared to say, GE or even Apple. It's a big leap to say that because some internet companies have a shitty, unsustainable business model, that we're seeing the end of capitalism....who decides what is on that list has all the power in the system.
...information is corroding the market’s ability to form prices correctly. That is because markets are based on scarcity while information is abundant. The system’s defence mechanism is to form monopolies – the giant tech companies – on a scale not seen in the past 200 years, yet they cannot last. By building business models and share valuations based on the capture and privatisation of all socially produced information, such firms are constructing a fragile corporate edifice at odds with the most basic need of humanity, which is to use ideas freely.