That so much money concentrates at the top that capitalists can’t find useful outlets for it, and that capitalism produces huge amounts of junk we don’t need or want, was reinforced for me upon reading a New York Times article on what apparently has become a war against Instagram bots.
You can’t make this up, can you? So much capital is thrown into marketing that huge sums of money are thrown at Internet “influencers” who apparently are “influencers” because they have large numbers of followers on Instagram. The problem here, from the marketers’ perspective, is that large numbers of those followers are fake. They’re bots created to inflate the size of followings.
Although I couldn’t read this business-section article without laughing at the absurdity of this, it did also nicely illustrate the tremendous amount of waste in capitalist production. You’ve got to have a lot of capital lying around to afford spending on buying posts on Instagram. There is good money in this, it seems, for those who succeed at positioning themselves as “brands” as opposed to, say, human beings.
In one example, the Times article quoted an “influencer” who “said that she charged about $1,200 for a branded post. She added that she knew people with two million followers who charge $40,000 per post.”
With a straight face, the Times article casually referred to companies that exist to “connect brands with influencers” and discussed other companies that…