Finance funds commodification experiments where only a few ventures succeed

Evidence

Drawing on the example of the dot.com bubble of the early 2000s, he argues that finance offers liquid capital to a whole variety of attempts to marketize and commodify the creative energies of workers and consumers. While perhaps only 1% of firms succeed (paying for the other 99% that end in failure), finance effectively widens and pluralizes capitalism’s social factory. — Max Haiven, Cultures of Financialization, 457

Categorization

• XREF: The 99%-fail-with-1%-paying dynamic echoes Schumpeterian creative destruction and venture-capital portfolio logic — connects to finance-as-infrastructure of the social factory. — connects to: Finance lets capital attempt many commodification strategies while interest covers most failures — Max Haiven, Cultures of Financialization, 493; Impatient venture money produces many startup failures and few big wins — Shoshana Zuboff, The Age of Surveillance Capitalism, 228; Gig platforms will collapse or become luxury services when venture funding dries up — Nick Srnicek, Platform Capitalism, 96 (+1 more)

Broader Connections

• Finance lets capital attempt many commodification strategies while interest covers most failures #expands (0.92) — Max Haiven, Cultures of Financialization, 493
• Impatient venture money produces many startup failures and few big wins #exemplifies (0.88) — Shoshana Zuboff, The Age of Surveillance Capitalism, 228