Intertextuality operates as securitization, diverting value from text and author

Evidence

I argue that this financial logic has spread to cultural texts, and securitization occurs through intertextuality. This is not an actual security, of course—you can’t invest in this referential market (yet)—but the argument is that the same logic is apparent: take an underlying asset, unbundle it from its direct relationship to labor, rebundle it as an abstracted financial asset, and then buy/sell/trade/speculate it in various ways. Power is diverted from the underlying asset (in this case, the text), away from labor (in this case, the author), and harnessed by a speculative system (in this case, the financialized media system) as a security (in this case, marketplaces of lyrical speculation). — Andrew deWaard, Derivative Media, 335

Categorization

• QUESTION: This is the core causal claim the reader wants to stress-test: is the author demonstrating that financial logic actually drives lyrical form, or just drawing an analogy? The hedging (‘you can’t invest in this referential market yet’) flags it as partial metaphor.
• SEED: Potential essay angle: interrogate whether ‘securitization metaphor’ for sampling is materially grounded in actual acquisition finance or an intellectual shell game.