The Kennedy-era guru on capitalism, John Kenneth Galbraith, presciently proclaimed in the “New Industrial State” (1967) that “the imperatives of technology and organization, not the images of ideology, are what determine the shape of economic society”. The cacophony of ideology, including religious fervour, is what is killing people in Ukraine, Gaza and other warring states.

In the meantime, investors worldwide are chasing tech stocks like Nvidia whilst the rest of the world swelters in what are the hottest years on record. As the World Inequality Report 2022 stated, “Some 10 per cent of the world’s population owns 76 per cent of the wealth, takes in 52 per cent of income, and accounts for 48 per cent of global carbon emissions.” At the same time, the work force fears the rise of AI and robotization, which will have an unknown impact on job destruction.

Those who are lowly skilled will lose jobs, where there is a skewed demand for those with high knowledge and creativityintensity. What we see today is a winnertake-all competitive space across technology, geopolitics and education, with marginalization of those who cannot adjust fast. The American Magnificent Seven tech stocks represent the cutting edge of raw capitalist drive for value, speculation and state intervention in what venture capitalist William Janeway called the ThreePlayer financial Capitalism Game (Doing Capitalism in the Innovation Economy, 2018).

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Last year, the Seven helped create $10.2 trillion in US stock market capitalization value, and so far this year, five (Nvidia, Microsoft, Facebook/Meta, Google/Alphabet and Amazon) are still creating value, whereas Apple and Tesla are facing new headwinds. Nvidia rose from........

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