PARIS — After a summer of extreme, climate change-driven heat, France must spend billions of euros to help the country rebuild and ensure it is better prepared the next time the mercury rises and records fall.

Money, however, is hard to come by.

France is sitting on more than €3.5 trillion in public debt, which is becoming increasingly expensive to finance and is well above the European Union’s limit. Paris has already committed to billions in increased defense spending over the next several years, ruled out significant tax hikes and promised to slash its budget deficit, which came in at 5.1 percent of gross domestic product last year, to 3 percent by 2029 to comply with EU rules.

Crafting a budget for next year that can achieve those goals while also allocating enough resources to prepare France for the next summer of extreme heat that cooks livestock alive, plunges the country into drought and fuels wildfires that drive thousands from their homes is like trying to square the circle. But getting a hung parliament to agree on spending in the run-up to a presidential election will make the exercise even more difficult.

“We need billions — let’s be clear-eyed about this,” said Sophie Panonacle, a centrist, pro-government lawmaker who represents the fire-hit southwestern Bassin d’Arcachon area. “We really must urgently consider this issue of adaptation. We are making no progress at all on this matter.”

Budget crunch, meet climate crisis

Visiting the southwestern town of La Porge on Monday, where hundreds of people saw their homes go up in flames last month, Prime Minister Sébastien Lecornu listed a series of measures crafted to help residents rebuild their homes and keep businesses hit hardest by the fires afloat.

These included a total of €12 million in direct assistance for the two local administrations most affected by the fire, Gironde and the Landes, as well as rebates on property taxes and social security contributions in those areas and more funding to replant forests. Later that evening, President Emmanuel Macron announced that the proposals would also apply to the southern region of Var.

Lecornu said the measures would add up to €100 million, though it’s unclear whether that figure covers costs only in the towns he visited or also in the Var region.

Ecological Transition Minister Monique Barbut said last week that the total immediate cost of the summer’s heat, including lost homes and incomes, could reach €10 to €15 billion — the equivalent of 0.5 percent of GDP — though she cautioned that those figures were a rough estimate. When asked by French daily Libération about Barbut’s estimate, Economy Minister Roland Lescure later said it was too early to quantify the damage.

Whatever the final total comes to, there’s little doubt it will be difficult to pay given the need to get the country’s finances in order.

In a report commissioned by the French finance ministry, top economists last month said France must cut spending and raise taxes by €125 billion by 2032 to prevent its budget deficit from reaching 7 percent of GDP by the end of the decade.

A comprehensive strategy

Critics of the government say it has failed to provide specific details on how it intends to fund immediate and future budget needs for adaptation and climate change mitigation, frustrating lawmakers.

“We need to respond to climate-related events, but first we need a comprehensive strategic review regarding resources already allocated and promises made around fighting wildfires,” said Jean-François Husson, the Senate’s budget watchdog. “We’re addicted to making announcements which aren’t followed by results, and meanwhile the debt levels are spiraling.”

Husson said that he intends to summon government officials to provide clearer figures in the coming days.

“They cannot treat Parliament the way they do, specifically regarding budgetary matters,” Husson said.

That criticism cuts across party lines. Eric Coquerel, the left-wing head of the finance committee in the French National Assembly, has asked the government to urgently present a revised version of this year’s budget to parliament to address the need for more funds.

With state coffers so depleted, Barbut floated in an interview with Libération tapping private savings to help cover costs, as the French rank fairly high among EU countries in terms of savings but, like the rest of Europe, don’t invest much in stocks and bonds.

Panonacle, the centrist lawmaker, is one of 50 MPs pushing a proposal to use €50 billion in private savings to fund costly adaptation policies, including making buildings more resilient to extreme heat, installing more air conditioning in public facilities, and reinforcing flood defenses.

However, that money is already used to finance public projects, particularly social housing, and the economy ministry last year shot down a similar proposal to use money from a popular savings account to bolster defense spending.

Some ministries are focusing on efficiency gains. Interior Minister Laurent Nuñez will present a bill in September meant to modernize France’s civil security providers for example by rethinking its emergency dispatch system so firefighters are no longer deployed for every minor emergency.

“It’s not just about the amounts allocated, but also about how you use resources,” said an interior ministry official, who was granted anonymity to speak candidly.

Once summer ends, the clock starts ticking. Lecornu’s government is expected to present lawmakers with a draft budget to be debated by October. The goal is to get the process done by the end of the year — a goal lawmakers failed to meet in 2024 and 2025.

President Donald Trump is waiting for Iran to cave to his economic pressure. Tehran may be willing to wait even longer.

Even as Treasury Secretary Scott Bessent promises a level of economic isolation “never seen before,” former Trump administration officials, U.S. ambassadors and other Middle East experts are skeptical that tightening the economic vise will force Iran to relinquish its desire to toll ships passing through the State of Hormuz and make the other concessions Trump is demanding to bring an end to the war.

“It’s an attrition campaign, and I am sure Treasury tweaks this or that to fill gaps or expand coverage of sanctions,” said James Jeffrey, a former ambassador who served in the Middle East during three presidential administrations, including Trump’s first term. “But, it’s hard to believe [there will be] something decisive after 20 years of U.S. sanctions and Iranian experience of going around them.”

It’s an acknowledgement that underscores the asymmetry of the situation. The Trump administration is staring down a consequential midterm election amid an unpopular war that has sent oil prices back up to roughly $90 a barrel and helped push long-term borrowing costs to their highest level in nearly two decades as hope dims that a peace deal is near.

Iran’s leaders, meanwhile, see the conflict as existential, giving Tehran reason to absorb the extraordinary economic pain rather than accept terms it believes could imperil the regime — especially as U.S. inflation remains elevated and treasuries sell off.

The yield on 30-year U.S. government bonds, a figure Trump has in the past been attuned to, jumped on Tuesday to its highest level since just before the global financial crisis.

The increase in the yield to its highest level in nearly two decades isn’t solely because of the six-month war; global fuel shortages and broader instability have kept energy prices higher for longer, increasing the threat of persistent inflation. And that’s heaped even more risk on global bond markets that have repeatedly blanched at Trump-related shocks.

“We are in a situation where we’re spending more and more to finance more and more,” said Julia Coronado, founder of MacroPolicy Perspectives. And the war has created “a riskier world full of more frictions, full of more supply shocks.”

Iran’s outsized incentive to muscle through the pain is partly why some former administration officials doubt that the naval blockade, while unprecedented in its scale in the modern era or whatever new strategies Bessent may unveil, will change Iran’s calculus.

“I think the economic pressure would need to hit them in new ways we haven’t seen so far to change the mindset of the regime,” said one former Trump administration official, granted anonymity to candidly assess the impact of the U.S.’s economic pressure campaign.

The administration has yet to indicate what further action it plans to take, but options include going after major Chinese banks that facilitate Iran’s oil trade, expand secondary sanctions on countries doing business with Iran and confiscating Iranian assets under U.S. jurisdiction instead of just freezing them.

Iranian leaders publicly mocked U.S. efforts to sanction them into submission.

“Americans think squeezing Iran harder will win concessions that were never part of the agreement,” Mohammad Bagher Ghalibaf, the speaker of Iran’s parliament, posted on X Tuesday.

“Bessent and [Defense Secretary Pete] Hegseth are way out of their league,” he wrote. “Stop waiting for the clown crew to pull a rabbit out of their hat and clean up the mess you made.”

White House aides, however, continue to contend that the leverage is on its side.

“The crushing sanctions and one of the most successful blockades that have crippled Iran’s economy and has left Iran completely broke,” said one administration official, granted anonymity to share the U.S.’s thinking. “There are many levers the president can crank harder in the weeks and months ahead.”

In the half-year since the Iran war began, the president has deployed an array of pressure tactics to choke Iran economically, including physically preventing the country from selling its most important export — oil — as part of an ongoing naval blockade of Iranian ports. The administration has also sanctioned foreign buyers of Iranian oil, targeted the country’s shadow fleet of ships that ferries it and sought to cut the country off from the financial networks it uses to move money.

That economic pressure has sent Iran’s economy, which was already troubled before the war, into a deeper tailspin. Now, Iran is grappling with year-over-year inflation of 88 percent, long lines and rationing at gas pumps and food prices that have more than doubled.

But those who have worked on previous Iran negotiations say that’s far from enough to get the regime to cave, especially after six months of U.S. bombing that has killed, by Tehran’s own measure, more than 3,000 Iranians.

“It’s undeniable that there is economic pressure. The question is whether there is a breaking point, and I would say for a regime that is fighting for its life and has never hesitated to transfer economic pain to its population, there is no breaking point,” said Ali Vaez, the International Crisis Group’s Iran project director, who helped work to bridge differences between Iran and world powers during negotiations over the 2015 nuclear agreement.

Yet Trump continued to project patience on Tuesday, signaling that he was prepared to let the pressure campaign play out.

“There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran. The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated. Thank you for your attention to this matter!” Trump wrote on Truth Social.

A senior White House official, granted anonymity to discuss the situation in Iran, insisted that Iran will cave long before the pain in the U.S. or world markets become intolerable.

“Ultimately we want a deal, but in the interim, the Iranian economy is tanking … people are lining up for gas, just for a half gallon of gas. And there’s a lot of civil unrest going on in Iran, that’s not being played on the news for whatever reason,” the official said late last week. “We’re fine if that’s the route they want to take.”

Still, there are signs inside the White House that the economic impacts are a growing concern. Vice President JD Vance last week said on Fox News that the administration’s first goal in the Iran war was to “keep oil and gas cheap for Americans all over the country.” The president, meanwhile, has repeatedly insisted voters will bear the pain of higher gas prices for an end to Iran’s nuclear ambitions.

The voters have a more dyspeptic view. A Reuters/Ipsos survey released this week showed Trump’s approval rating at 33 percent, the lowest level of his presidency. Roughly 80 percent of Americans — 87 percent of Democrats and 71 percent of Republicans — think U.S. involvement in Iran “will go on for an extended period of time,” the poll found.

But some former Trump administration officials, however, are holding out hope that patience will be rewarded and that the administration’s economic pressure campaign will work, in part because they see the other options on the table, including putting U.S. boots on the ground in Iran, as politically untenable.

Fred Fleitz, Trump’s former National Security Council chief of staff and vice chair of the American First Policy Institute’s American Security, predicted that the U.S. could be “dealing with a different Iran” in 30 to 60 days.

“I think patience is the best approach,” Fleitz said. “I don’t believe that a large-scale military attack right now is going to make a difference in changing the regime’s position, and I strongly oppose the idea of seizing Kharg Island or sending in American troops. The American people don’t want that. That would really bog us down in a quagmire.”

ATHENS — Greece’s attempt to lure top scientists back to their homeland after the trauma of the financial crisis has stalled after an ambitious program to reverse the brain drain descended into fiasco.

A group of professors who hoped to bring back young researchers through a much-advertised program financed with EU funds are now feeling betrayed, having been left waiting for years only to find out the program won’t happen.

To rub salt into the wound, no one from the government bothered to inform them that the scheme was dead, they said.

“All this ‘brain gain’ talk isn’t just a joke; it’s a massive step backward,” Aristides Hatzis, a professor at the University of Athens, said. “During the financial crisis, there was only one area where there was money invested: research, as the EU prioritized this. Now there’s nothing; it’s at the very bottom of the list of priorities — a complete abandonment.”

An estimated 500,000 people moved abroad during Greece’s financial crisis, which began in 2008, shrinking the country’s economy by a quarter and driving unemployment to 28 percent. Greece had experienced mass migration before, including in the decades after World War II, but this time it was many citizens with high levels of education and skills who emigrated.

“Brain Regain,” an initiative by the ruling conservative New Democracy government to reverse the mass exodus of scientists and professionals, comprises several schemes, such as offering a 50 percent income tax exemption for seven years, and is expanding to include high-skilled public sector roles.

And overall, the situation has improved since the crisis era.

According to the survey OECD Diaspora Review Greece, from 2021 onward, there has been a steady increase in the number of citizens returning to Greece, with 2023 marking a milestone year when — for the first time since the start of the crisis — more people returned than left. Specifically, during the two-year period of 2023–2024, 69,000 Greeks left their country while 98,000 returned.

But when it comes to scientists, there is still a major problem.

Star-crossed project

The current fury of many researchers and scientists hinges on a Greek government project called “Trust your Stars” — an €80 million research funding program backed by funds from EU’s post-Covid recovery fund, the Recovery and Resilience Facility (RRF).

Research teams were called to submit their proposals, with 145 out of a total 1,241 submissions selected. Thirteen months later, after several complaints regarding the delay, the selected list of projects was finally published on July 22, 2025.

Then, it all started to unravel.

Those not selected for funding reacted fiercely, with some 203 submitted objections and calls for reevaluation. Scientists raised their concerns over the evaluation process itself, and some even submitted complaints to the European Public Prosecutor’s Office.

In January 2026, Greece’s development ministry then issued a statement, saying payments of some €40 million had already been made, and that the remaining half of the program’s budget was earmarked for completion by Dec. 31, 2029. But complaints only escalated, with some of those selected for funding sending formal legal notices to the education ministry, seeking details about where the money had been spent since the program had not yet started.

Then, the final bombshell dropped: Trust your Stars was not going to receive the EU funds anymore.

In a statement published in May, Greece’s education ministry said the country’s finance ministry had decided to “remove the project during the review of Greece’s National Recovery and Resilience Plan.” It was later revealed that on the day the list of selected proposals was officially published, the government also delisted the program — but no one informed the applicants for 10 months.

“It was ultimately not possible to implement the project ‘Trust your Stars’ within the time frame set out by the RRF,” said an official from the education ministry. “For this reason, the project was removed, as part of a review of the National Recovery and Resilience Plan by the Council of the European Union.”

“As regards the funds linked to the actions in question, these were redirected to finance other actions undertaken by the RRF and the Education Ministry. Consequently, under no circumstances was there any loss of resources from the RRF,” added the official.

Shattered hopes

On July 15, Greece’s finance ministry issued a statement, saying it was trying to secure funds “to settle any outstanding financial obligations arising from legal commitments entered into at the time of the revocation of the program.”

While the statement rekindled hopes that a solution would be found, Hatzis argues that it was just a legal trick and that the education ministry has no legal commitment since no contracts were signed following the initial announcement of accepted proposals.

“What happened violates a fundamental principle, one that is sacrosanct in states governed by the rule of law: ‘reliance,’ the citizen’s legitimate trust in the state,” he said. “There may be no contractual liability, since we did not sign an agreement, but there is a political, moral and even legal obligation. Many young people turned down other offers or did not take up jobs elsewhere because they hoped they would be paid through the program.”

Hatzis added that with its handling of the situation, the government had managed to turn the entire scientific community against it — both those who had been successful and those who had not.

“If you’re a young scientist and you’re abroad, stay there! If you’re a young scientist and you’re thinking of moving abroad, go for it. Don’t wait a minute!” he wrote in a lengthy social media post.

Pantelis Kammas, an associate professor at the Athens University of Economics and Business who was co-leading one of the teams that had a successful proposal, said the program was a chronicle of a death foretold.

“The perception within the scientific community was that this was EU money and that it could be handed out hastily through nontransparent procedures. There was a sense of mistrust because this was a one-off emergency program,” said Kammas. “The ministry lacked an organized framework for evaluation, the academic community’s objections were based on these well-known shortcomings, and media that seek to oppose the government jumped on that. This was the perfect storm, so the government decided to backtrack and cancel the program.”

Petros Bouras-Vallianatos, an associate professor of the history of science at the University of Athens, said he had gathered a team of 25 young scientists to come to Greece from countries like the U.K. and Germany for a study of medicines used during the Byzantine period, which could serve as inspiration for new pharmaceutical formulations. Fortunately, they had not already traveled by the time the project was canceled.

“The most offensive thing is that the government never bothered to meet us or give us a reasonable explanation about what happened,” he said, noting the government’s handling created even greater problems with the scientific community than those that already existed.

Bouras-Vallianatos himself returned to Greece in 2022 after a 15-year career in Edinburgh, and has not regretted the decision, as he wanted to raise his children in his homeland. However, he added that while many others wanted to return to Greece, the conditions for doing so were not in place. Some of them do but only for sentimental, personal reasons, he said.

“There has been no serious policy by the Greek state to get its scientists back.”

According to preliminary statistics, research spending in Greece has declined, dropping to €1.27 billion — or 0.51 percent of GDP — in 2025, from €1.30 billion in 2024.

“Funding and low salaries is a big issue,” continued Bouras-Vallianatos. “An independent body should be set up, which would allocate funds for research and adheres to international standards in terms of evaluation. We are a small country; we all know each other, so a large proportion of the evaluators should be foreigners.”

If you live in America in 2026, and you’re not so wealthy as to be absolutely shielded from daily life, you’re probably aware that everything is really expensive now. Gas and milk are both above $4 a gallon. Fresh vegetables are up almost 10 percent over this time last year, even though they will maybe give you explosive diarrhea. The median home in this country now costs almost half a million dollars. 

A lot of people — even those with relatively high-paying jobs — are very, very stressed about money.

In some ways, our current unaffordable era is starting to evoke the years right after the Great Recession. Unemployment was high, the economy was bleak, and a lot of Americans, myself included, were searching for ways to do more with less. 

One distinctive product of these harsh conditions was an entire blogosphere that emerged to give readers chatty, relatable advice on saving money. 

It was a kind of the golden age for personal writing on the internet, and these writers melded advice and personal narrative in a way that foreshadowed today’s influencers, but with a more lo-fi, DIY aesthetic. Starting in about 2008 and continuing for the next decade, these authors reached thousands of readers a day with tips on how to spend less and sock more away. There was Mr. Money Mustache, a brash “financial magician” who had retired at age 30 and believed ordinary people could save half or even 75 percent of their income. There was Trent Hamm of the Simple Dollar, an Iowa dad who shared his story of getting out of debt alongside recipes for cheap meals and homemade laundry detergent. There was my niche favorite, An English Major’s Money, by a young woman who shared my less-than-lucrative career path but who was nonetheless determined to achieve financial stability.

It wasn’t just old-school personal finance advice, it was a whole philosophical universe dedicated to the idea that by living on less, you could liberate yourself from the uncertainties of the economy and experience true freedom.

Collectively, I like to think of these writers as the frugalsphere.

Today, most of them are no longer blogging about saving money — some have gotten jobs in traditional media, while others have gone on to other careers entirely (or are simply enjoying early retirement). But their movement feels newly relevant today, as Americans struggle to afford necessities and face mounting anxiety over their economic future. So I decided to track down a bunch of frugality writers from that time, and see what they had to say about 2026.

One thing I wanted to know was why I wasn’t seeing the same outpouring of money-saving advice I’d seen in the wake of the 2008 crash. But I was also curious for bigger insights: What, if anything, is the equivalent of the frugalsphere in today’s inflationary era? And could the ethos of those optimistic coupon-clippers give us smarter ways to think about the unsettling new place we find ourselves in 2026?

What I found is that the frugalsphere still has lessons to teach us, but they’re not about reheating leftovers or washing out Ziploc bags. Instead, they’re about how to claim a sense of autonomy, even when our lives are buffeted by forces beyond our control.

The short, influential arc of the frugalsphere

The idea that you can achieve prosperity by carefully watching your spending is far from revolutionary, and self-help authors were extolling the virtues of frugality long before the Web 2.0 era. In the 1990s, for example, editor Amy Dacyczyn published a print newsletter called the Tightwad Gazette, teaching readers frugal tricks (Dacyczyn herself favored reusing aluminum foil) for the low price of $12 per year. 

But amid the upheaval of the Great Recession, when more than 15 million Americans found themselves unemployed in the worst crisis since the 1930s, a new generation of bloggers started offering advice about saving money, often directed at millennials starting their careers in a decimated job market.

“People were looking for something they could do,” Nicole Dieker Finley told me recently.

What Finley did was to start posting all her earnings and expenses on Tumblr around 2012, when she was trying to make it as an independent musician in Los Angeles. She soon caught the attention of the editors of The Billfold, a website launched the same year to cover money with a personal, relatable tone befitting the times. Billfold editors Logan Sachon and Mike Dang shared their student loan and credit card debt; Finley tracked her net worth and spending and wrote about her quest for financial independence. She later went on to a freelance career writing about money (including for Vox).

Kara Stevens, meanwhile, started the website the Frugal Feminista around 2012 while facing down student loans, credit card debt, and a tanking credit score: “It clicked to me that if I didn’t do something about it, I would be in this position of not being able to move forward in my life,” she told me.

Based in New York City, she shared tips for finding free events, cheaper dupes of popular brands, and deals on fancy hotels. “It was like, how am I living my Sex and the City life on a budget?” Stevens recalled.

As time went on, more bloggers joined the space, some of them already starting from a position of financial freedom. Kristy Shen and her husband Bryce Leung started the site Millennial Revolution after retiring in 2015 at age 31 with a seven-figure investment portfolio. 

“After 2008, people started freaking out and thinking that no job is safe,” Shen told me. “I think that’s when people started being more interested in finance.”

The message of the frugalsphere was that if you could leave cheaply enough and save enough money, you could weather any layoff — and eventually, not have to work at all. The bloggers of the era — many of them millennials aiming their advice at other millennials — tended to share a can-do attitude, a sense that with the right mix of care and planning, almost anyone could improve their financial situation.

Also, they wanted to stick it to the man

The frugalsphere also had a tinge of rebellion about it. “Americans tend to have a very up-down relationship with consumption,” said Helaine Olen, a longtime financial journalist and the managing editor at the American Economic Liberties Project, an anti-monopoly think tank. After 2008, the pendulum started swinging against buying stuff, and the frugality bloggers were leading the swing.

Their implicit message was often that by refusing to buy expensive things, you were pushing back against corporations that wanted to control you. Frugality was, at least to some degree, about sticking it to the man.

At their peak, some personal finance blogs were reaching thousands of readers a day and breaking through into mainstream media. Shen told me that Millennial Revolution got 15,000 page views the day after a post about the virtues of renting a home was picked up by the CBC. Shen and Leung, as well as Trent Hamm and other bloggers, got book deals and started to reach a broader audience.

But the culture soon began to shift. The written personal blog began to die out, replaced by more visually driven social media – and an influencer ethos that rewarded the acquisition of new possessions, rather than showcasing ways to do without. Today, social media is much more about celebrating consumption than questioning it. 

On TikTok and Instagram, “it becomes about showing perfection and showing a good life,” Olen said. “And part of a good life, as we define it in the United States, is spending money.”

How frugality lost its shine

Today, some frugality influencers have found a home on TikTok, and the deinfluencing trend of a few years ago shows there’s still an appetite for anti-capitalism, even in the age of short-form video. But overall, the cultural and economic winds have blown against frugality, frugalsphere writers and observers told me. 

As inflation rose in the 2020s, necessities cost more, but saving also became less attractive. More people made the calculation that “if I don’t take this trip this month, it’ll be more expensive next year,” Olen said.

Upheavals like the Covid pandemic gave some Americans “a grim outlook on money,” Stevens said. Their feeling was, “there’s no chance that any of us can be wealthy. What’s the point of saving anything?”

Today, tips like making all your coffee at home instead of going out for a little treat don’t resonate the way they once did. This time is fundamentally different from 2008: The economy is nominally “good” now, and unemployment is low, but everything from eggs to real estate feels more unaffordable than ever. 

“People say, The cost of living is so high, I need some joy,” Stevens said. “Like, You can’t deny me everything.”

What the frugalsphere can teach us now

When I talked to frugalsphere writers about today’s situation, I ended up realizing that even if some of their specific tips are no longer as applicable, their mindset still is.

At its best, frugality advice was always about adapting to your situation, whatever that might be. When rice is cheap, buy in bulk. When basil is expensive, use the leftover pesto you froze in an ice-cube tray. Nothing is cheap right now — and, to be honest, I have never had the energy to freeze pesto — but the basic idea stands.

“Frugality to me means intentionality.”

Kara Stevens

“Be flexible,” Shen says. Millennial Americans once worried about their jobs being outsourced. Now workers all over the world are worried about getting replaced by AI. No matter what, though, “you have to change with the times.”

For Gen Z, that might look like entrepreneurship and investing rather than a traditional career and saving for a home, Shen said. I can’t yet imagine what it will look like for Gen Alpha, but there’s something reassuring about the idea that flexibility is a skill we can learn, one that can help carry us through even the most macro of macroeconomic shocks. 

One big thing that’s changed since 2008 is the politics of personal finance. In the 2010s and 2020s, many critics of the frugality approach began to point out that without systemic change to lower the costs of housing, health care, and education, all the coupons in the world weren’t going to make much difference. Today, affordability isn’t just an individual concern — it’s the cornerstone of a lot of political debates.

But even as we look to systemic solutions, there’s another big lesson Americans today can take from the frugalsphere: Control what you can.

For Stevens, that looks like acknowledging that “within any system that has a bias toward corporations or the wealthy, we understand that things may not be fair,” she said. “That also doesn’t mean that you don’t have personal agency.”

Exercising that agency might mean being more mindful around retail therapy rather than cutting it out entirely, Stevens said: “If I know that I need these little quick boosts to make me feel good because work is stressing me out, can I carve out a part of my budget that allows me to do that without completely disrupting my financial goals?”

Stevens, for instance, cares a lot about her skin, so she spends money on skincare products that really work for her, and cuts back on things like purses that don’t matter as much.

“Frugality to me means intentionality,” Stevens told me. It’s about “living more aligned with your values.”

In today’s era of polycrisis, it feels downright insensitive to promulgate the idea that anyone can get rich with the right combination of tips and tricks. But most Americans make at least a few choices every week about where our money is going.

If we can make whatever choices we do have in a way that’s intentional, in line with our larger goals for ourselves and the world — maybe that’s a 2026 version of financial independence.

Today's links

• AI solipsists and AI cynics: You don't have to believe that AI "works" to believe that it's a good investment.
• Hey look at this: Delights to delectate.
• Object permanence: Malware v stolen computer; Industrial material made from old coffee and melted cups; Austro-Germany's weird tunnels; Health data v Silicon Valley; Amusement parks v load-balancing.
• Upcoming appearances: Edinburgh, Sydney, Melbourne, Brighton, London, South Bend.
• Recent appearances: Where I've been.
• Latest books: You keep readin' em, I'll keep writin' 'em.
• Upcoming books: Like I said, I'll keep writin' 'em.
• Colophon: All the rest.

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AI solipsists and AI cynics (permalink)

As a technology, AI isn't exceptional. It's not exceptionally wicked. It's not exceptionally good. Take away the accompanying, galactic-scale stock-swindle, and we'd call AI's applications "plug-ins" and we'd use them and abuse them in the same way that we've used every other technology:

https://www.normaltech.ai/

As a destructive economic pathology, AI is extraordinary. AI boosters have spent a baffling and terrifying sum of money – over $1.4T, most of that in the past year – on the promise of making as many workers unemployed as possible, while lowering the wages of the meager survivors of this jobspocalypse. To make things worse, AI can't do the jobs it's replacing: AI is predicated on the premise that the monopolies, duopolies and cartels that control the global economy can deliberately worsen their products without suffering economic or regulatory consequences, because they're the only game in town.

In service to this bubble, AI companies have suborned regional governments into running roughshod over environmental and planning review in order to build endless acres of data centers, many of which will likely end up casualties of the imminent bubble-pop, never to be switched on or even completed. What an indignity to have your farm or house seized through eminent domain, only to see it razed and replaced by a weed-choked empty field, a lonely foundation slab, or an abandoned empty building that could only ever be repurposed for laser-tag or an ICE concentration-camp:

https://gizmodo.com/trump-on-data-centers-you-cant-fight-it-you-have-to-go-with-it-2000790014

This is just one of the many negative effects of AI that can be traced to the scale of the bubble. Were it not for the imperative to turn more than a trillion dollars of losses into a profit, we would not have the aggressive, site-destroying scraping epidemic. Nor would we see AI crammed into every part of every product and service we use. And of course, in the absence of the investment bubble, businesses wouldn't be firing productive workers and replacing them with defective chatbots.

The single most salient fact about AI is the investment bubble, not the technical characteristics of chatbots or recent advances in statistical inference. AI's investor story is an incoherent tangle of predictions about AI's future, ranging from the outlandish ("Once we spend enough money, AI will become God and solve all our problems, including our profitability crisis") to the dystopian ("The majority of jobs in the economy will be done by our chatbots, and the employers who previously employed those workers will split the wage savings with us").

None of these stories are plausible, which raises an urgent question: why have the world's wealthiest investors been so eager to hand over trillions to finance this bubble?

I have previously written about one reason that billionaires find the AI story so compelling: at root, many billionaires just don't believe most other people are actually, fully real. How could they? Achieving billionairehood requires that you inflict pain on vast numbers of people. If you truly believed that those people were as real as you are, you'd never be able to look yourself in the mirror. Whether it's Leona Helmsley's claim that "only the little people pay taxes," or Elon Musk's habit of calling people who disagree with him "NPCs," the whole ideological project of billionaireism is shot through with a kind of solipsism:

https://pluralistic.net/2026/01/05/fisher-price-steering-wheel/#billionaire-solipsism

This is true even in one-on-one encounters: for the Epstein Class, the children raped on his island weren't fully real – certainly not as real as their own children. It's even more true for the people that billionaires experience as statistical artifacts, such as Jeff Bezos's vast army of drivers and warehouse workers, with their sky-high on-the-job injury rates and the everyday indignity of their piss-bottles. It gets worse for social media bosses like Mark Zuckerberg, for whom AI's principal appeal is the prospect of ending socializing on social media, swapping your mulish friends for pliable chatbots who will organize their interactions with you to maximize your platform usage and thus the number of ads you see:

https://pluralistic.net/2026/01/19/billionaire-solipsism/#sirius-cybernetics

I think billionaire solipsism can account for much of the malinvestment in this obvious bubble, but I don't think it's the whole story. Rather, I think there's a whole cohort of investors who don't believe in AI, but believe that other people will believe in AI.

This is a well-established investment principle. As Keynes wrote, the point of investing isn't necessarily to pick the most beautiful contestant to win the beauty contest – it's to pick the contestant that the other judges will hand the crown to:

https://en.wikipedia.org/wiki/Keynesian_beauty_contest

In other words, you don't get rich from stock speculation by identifying the businesses whose profitability will grow the most – you get rich by identifying the businesses that other investors will pile into, pushing the price up. All you need to do is sell your shares after the price spike, but before anyone else figures out that the business is a turkey. It's like that old joke: "I don't need to run faster than the bear (market), I just have to run faster than you."

From the perspective of a cynical AI investor, the question isn't, "Can AI do your job?" The question is, "Can an AI salesman convince your boss that an AI can do your job?" So long as enough bosses are convinced to fire workers and replace them with AI, AI valuation will continue to climb, and if they time the market right, they can get out before those valuations crash. This proposition gets even sweeter if the CEO of the AI company is in bed with financial regulators and stock exchanges, and can force your financial advisor to buy his worthless AI stock with "little people's" retirement savings:

https://fortune.com/2026/06/13/spacex-stock-index-funds-passive-investing-401k-nasdaq-100-russell/

A bet that bosses will fire workers and replace them with AI is a good wager. Bosses are absolute suckers for this scam. Bosses hate the fact that they can't translate their plans into action without first having a series of ego-shattering confrontations with workers who actually know how to do things, who insist that those plans are illegal, stupid, impossible or will kill people:

https://pluralistic.net/2026/03/12/normal-technology/#bubble-exceptionalism

For these bosses, AI is the chance to wire the toy steering wheel they play with all day directly into the corporate drive-train. With enough AI slaves, the boss can run the company all on their own:

https://pluralistic.net/2026/07/10/posthuman-as-in-no-humans/#hell-is-other-people

In other words, you don't need to be a solipsist to bet on AI. It is sufficient to believe that bosses are solipsists, who can be relied upon to empty the corporate coffers in exchange for worker-replacing magic beans.

This is true in many scam sectors. I'm sure that most of the people who finance the supplements that Andrew Tate and Joe Rogan hawk understand that they're just a way to give yourself very expensive piss. They don't have to believe supplements work to believe that there is an army of desperate and credulous young men who will give anything for the promise they dangle.

Likewise, you don't have to believe that Gwyneth Paltrow can help women "regulate their periods" and "correct their hormonal imbalances" by selling them rocks to stuff in their vaginas. You just have to believe that between patriarchy-induced body shame and patriarchy-driven medical neglect, there's an army of desperate women out there who will buy those rocks and risk their lives by sticking them inside their bodies:

https://web.archive.org/web/20181225035739/https://www.vogue.com/article/goop-jade-yoni-egg-lawsuit-gwyneth-paltrow-vaginal-pelvic-floor-health

AI is even worse than vagina-rocks, of course. When the bubble bursts, when the seven AI companies that make up 35% of the S&P 500 tank, when a third of the US stock market is vaporized overnight, our governments will reflexively turn to austerity, the go-to response to every financial crisis. Austerity is fascism's best recruiting tool:

https://pluralistic.net/2026/04/12/always-great/#our-nhs

When the AI bubble bursts, the defective chatbots that replaced skilled workers will disappear with it, leaving us scrambling to get that work done after the workers who understood it have retrained, retired, or exited the workforce. AI is the asbestos we're shoveling into the walls of our civilization and our descendants will be digging it out for generations:

https://pluralistic.net/2026/04/08/process-knowledge-vs-bosses/#wash-dishes-cut-wood

Long after the AI bubble bursts, we'll be dealing with its catastrophic carbon emissions. The Second Law of Thermodynamics isn't up for debate. Once we sink enough therms into the sea, we are losing the ice-caps.

AI is an ordinary technology, but the AI bubble is extraordinary: extraordinarily toxic and extraordinarily dangerous. The source of that danger is financiers, and they are motivated by a mix of solipsism and a belief in other people's solipsism. For them, the most exciting investment hypothesis is that "hell is other people":

https://locusmag.com/feature/commentary-cory-doctorow-hell-is-other-people/

(Image: Cryteria, CC BY 3.0, modified)

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Hey look at this (permalink)

• Writing by Hand is Good for your Brain – Here's how to do it https://nealstephenson.substack.com/p/writing-by-hand-is-good-for-your

• Trump BBC Defamation Lawsuit Backfires Big-Time—With Subpoenas Coming https://newrepublic.com/post/213372/trump-bbc-defamation-lawsuit-backfires-subpoenas-financial-info

• Google burning through cash with spiralling AI costs https://www.bbc.co.uk/news/articles/c235n47g8g8o

• A laid-off journalist started his own news site. Facebook AI decided he was fake https://eu.indystar.com/story/news/local/2026/07/21/a-blow-to-local-news-facebook-ai-calls-real-indiana-journalist-fake/90983530007/

• Washington Still Ignores Airline Monopolies https://economicpopulist.substack.com/p/washington-still-ignores-airline

---

Object permanence (permalink)

#25yrsago Stolen, infected computer transmits its location by virus spamming owner's address book https://slashdot.org/story/01/07/25/1510213/tracking-a-thief-via-the-sircam-virusa

#15yrsago Çurface: an industrial surface made from compressed coffee and melted coffee cup https://memex.craphound.com/2011/07/25/curface-an-industrial-surface-made-from-compressed-coffee-and-melted-coffee-cups/

#15yrsago Samsung Galaxy Tab 10.1: Android iPad-killer is a poorly thought-through disappointment https://www.theguardian.com/technology/2011/jul/25/why-samsung-galaxy-tab-is-meh

#15yrsago Strange tunnels of Austro-Germany https://web.archive.org/web/20120621155245/https://www.spiegel.de/international/zeitgeist/hideouts-or-sacred-spaces-experts-baffled-by-mysterious-underground-chambers-a-775348.html

#15yrsago BitCoin alternative: distributed, but not decentralized cash https://www.links.org/files/distributed-currency.pdf

#10yrsago Bruce Schneier on the coming IoT security dumpster-fire https://web.archive.org/web/20160725221959/https://motherboard.vice.com/read/the-internet-of-things-will-cause-the-first-ever-large-scale-internet-disaster

#10yrsago Our public health data is being ingested into Silicon Valley’s gaping, proprietary maw https://web.archive.org/web/20170917070322/http://www.nature.com/news/stop-the-privatization-of-health-data-1.20268

#5yrsago Amusement parks, crowd control and load-balancing https://pluralistic.net/2021/07/25/now-youve-got-two-problems-part-iii/

---

Upcoming appearances (permalink)

• Edinburgh International Book Festival with Jimmy Wales, Aug 17
  https://www.edbookfest.co.uk/events/the-front-list-cory-doctorow-and-jimmy-wales

• Sydney: The Festival of Dangerous Ideas, Aug 23-24
  https://festivalofdangerousideas.com/program/

• Melbourne: Enshittification at the Wheeler Centre, Aug 25
  https://www.wheelercentre.com/events-tickets/season-2026/cory-doctorow-enshittification

• Brighton: The Reverse Centaur's Guide to Life After AI with Carole Cadwalladr (Brighton Dome), Sep 8
  https://brightondome.org/whats-on/LSC-cory-doctorow-the-reverse-centaurs-guide-to-life-after-ai/

• London: The Reverse Centaur's Guide to Life After AI with Riley Quinn (Foyle's Picadilly), Sep 9
  https://www.foyles.co.uk/events/enshittification-cory-doctorow-riley-quinn

• South Bend: An Evening With Cory Doctorow (Notre Dame), Oct 6
  https://franco.nd.edu/events/2026/10/06/an-evening-with-cory-doctorow/

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Recent appearances (permalink)

• Will AI ever come alive, and what happens if it does? (BBC News)
  https://www.youtube.com/watch?v=Lzk4o3fPZZE

• Waarom jij straks het hulpje van AI bent (VPRO)
  https://www.youtube.com/watch?v=tOnvR2fs8CA

• Talk Tech Bock (Vera Linß)
  https://www.youtube.com/watch?v=3PFjGvQoBgc

• How To Think About AI Before It’s Too Late (This Is Hell)
  https://thisishell.com/episodes/1919

• AI Won't Replace You… But This Might (Deep Focus)
  https://www.youtube.com/watch?v=oorWq_m48AQ

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Latest books (permalink)

• "The Reverse-Centaur's Guide to AI," a short book about being a better AI critic, Farrar, Straus and Giroux, June 2026
  https://us.macmillan.com/books/9780374621568/thereversecentaursguidetolifeafterai/

• "Canny Valley": A limited edition collection of the collages I create for Pluralistic, self-published, September 2025 https://pluralistic.net/2025/09/04/illustrious/#chairman-bruce

• "Enshittification: Why Everything Suddenly Got Worse and What to Do About It," Farrar, Straus, Giroux, October 7 2025
  https://us.macmillan.com/books/9780374619329/enshittification/

• "Picks and Shovels": a sequel to "Red Team Blues," about the heroic era of the PC, Tor Books (US), Head of Zeus (UK), February 2025 (https://us.macmillan.com/books/9781250865908/picksandshovels).

• "The Bezzle": a sequel to "Red Team Blues," about prison-tech and other grifts, Tor Books (US), Head of Zeus (UK), February 2024 (thebezzle.org).

• "The Lost Cause:" a solarpunk novel of hope in the climate emergency, Tor Books (US), Head of Zeus (UK), November 2023 (http://lost-cause.org).

• "The Internet Con": A nonfiction book about interoperability and Big Tech (Verso) September 2023 (http://seizethemeansofcomputation.org). Signed copies at Book Soup (https://www.booksoup.com/book/9781804291245).

• "Red Team Blues": "A grabby, compulsive thriller that will leave you knowing more about how the world works than you did before." Tor Books http://redteamblues.com.

• "Chokepoint Capitalism: How to Beat Big Tech, Tame Big Content, and Get Artists Paid, with Rebecca Giblin", on how to unrig the markets for creative labor, Beacon Press/Scribe 2022 https://chokepointcapitalism.com

---

Upcoming books (permalink)

• "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027

• "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

• "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2027

• "The Memex Method," Farrar, Straus, Giroux, 2027

---

Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Fourth draft completed. Submitted to editor.

• A Little Brother short story about DIY insulin PLANNING

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This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

https://creativecommons.org/licenses/by/4.0/

Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.

---

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READ CAREFULLY: By reading this, you agree, on behalf of your employer, to release me from all obligations and waivers arising from any and all NON-NEGOTIATED agreements, licenses, terms-of-service, shrinkwrap, clickwrap, browsewrap, confidentiality, non-disclosure, non-compete and acceptable use policies ("BOGUS AGREEMENTS") that I have entered into with your employer, its partners, licensors, agents and assigns, in perpetuity, without prejudice to my ongoing rights and privileges. You further represent that you have the authority to release me from any BOGUS AGREEMENTS on behalf of your employer.

ISSN: 3066-764X

Today's links

• In praise of vultures: They screw you because they can.
• Hey look at this: Delights to delectate.
• Object permanence: Linus v MSFT; Argentina v MSFT; Danny Hillis on theme parks v games; Smartfilter v Distributed Boing Boing; Rental laptops filled with spyware; Torture didn't help capture bin Laden; Massively parallel Apple //e; Stephen Harper v election law; John Deere v Iowa cartoonist; Qualia.
• Upcoming appearances: Guelph, Barcelona, Berlin, Hay-on-Wye, London, NYC, Edinburgh.
• Recent appearances: Where I've been.
• Latest books: You keep readin' em, I'll keep writin' 'em.
• Upcoming books: Like I said, I'll keep writin' 'em.
• Colophon: All the rest.

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In praise of vultures (permalink)

One of my bedrock beliefs is that capitalists really hate capitalism. They may name their beloved institutes after the likes of Adam Smith, but they ignore everything Smith had to say about the necessity of competition to keep markets from turning into monopolies:

https://pluralistic.net/2023/06/09/commissar-merck/#price-giver

The theory of capitalism holds that markets are a kind of distributed computer that aggregates trillions of decisions from billions of market participants in order to optimize production and distribution of goods and services, creating a "Pareto-optimal" world where no one can be made better off without making someone else worse off.

Whether or not you believe that this computer exists and functions as predicted, one indisputable fact about it is that it requires the freedom to choose in order to work. The point of market-as-computer is that it aggregates decisions, so it can only work if everyone is as free as possible to decide.

But that's not the world capitalists want. For capitalists, the point is to restrict other people's choices in order to maximize your own freedom. That's how we get economic doctrines like "revealed preferences": the idea that if a person says they want one thing, but does another thing, then you can tell what they really prefer by looking at the latter and disregarding the former. This is the kind of doctrine you can only fully embrace after sustaining the kind of highly specific neurological injury that is induced by taking an economics degree, an injury that makes you incapable of perceiving or reasoning about power. Under the doctrine of revealed preferences, someone who sells their kidney to make the rent has a revealed preference for only having one kidney:

https://pluralistic.net/2026/03/30/players-of-games/#know-when-to-fold-em

Capitalism is supposed to run on risk: the risk of being overtaken by a competitor drives businesses to deliver better services more efficiently, thus producing a bounty for all. But capitalists really hate risk, hence the drive to monopoly: Mark Zuckerberg admitted, in writing, that he only bought Instagram so that he wouldn't have to compete with it ("It is better to buy than to compete" -M. Zuckerberg):

https://pluralistic.net/2025/11/20/if-you-wanted-to-get-there/#i-wouldnt-start-from-here

Capitalists hate capitalism, but they love feudalism. Feudalism is like capitalism, in that you have a ruling class that creams off the surplus generated by labor; but under feudalism, society is organized to protect rents (money you get from owning stuff) over profits (money you get from doing stuff). The beauty of rents is that they are insulated from risk: if you own a coffee shop, you're in constant danger of being put out of business by a better coffee shop. But if you own the building and your coffee shop tenant goes under, well, you've still got the building, and hey, now it's on the same hot block as the amazing new cafe that's driving its competitors out of business:

https://pluralistic.net/2023/09/28/cloudalists/#cloud-capital

Douglas Rushkoff calls this "going meta": don't drive a taxi, rent a medallion to a taxi driver. Don't rent a medallion, start a ride-hailing app company. Don't start a ride-hailing company, invest in the company. Don't invest in the company, buy options on the company's shares. Each layer of indirection takes you further from the delivery of a useful service – and insulates you further from risk:

https://pluralistic.net/2022/09/13/collapse-porn/#collapse-porn

Monopoly is to capitalism as gerrymandering is to democracy, a way to strip out any meaningful choice. Think of the two giant packaged goods companies that fill your grocery aisles: Procter & Gamble and Unilever. Practically everything on your grocer's shelves is made by a division of one of these two massive conglomerates. If you try to "vote with your wallet" by buying a low-packaging version of a product, it's going to be sold to you by the same company that sells the high-packaging version. If you switch to an artisanal brand of cookies made by a local family business, Unilever or P&G will buy that company and issue a press release declaring that they made the acquisition because they know "their customers value choice":

https://pluralistic.net/2024/05/18/market-discipline/#too-big-to-care

Gerrymandering strips your vote of any impact on political outcomes. Monopoly strips your purchases of any ability to influence economic outcomes. Wrap both of them in "revealed preferences" and you get a system that endlessly narrates its ability to deliver choice, and then blames your misery on your having chosen badly.

This is the method of the entire conservative project. As Dan Savage says: the thing that unites conservative assaults on voting, birth control, abortion and no-fault divorce is the stripping away of choice. Conservatives are trying to create a world populated by husbands you can't divorce, pregnancies you can't prevent or terminate, and politicians you can't vote out of office. Add to that Trump's assault on the National Labor Relations Board, his reversal of the FTC's ban on noncompetes, and his protection of "TRAP" agreements that force employees to pay thousands of dollars if they quit their jobs, and you get "jobs you can't quit":

https://pluralistic.net/2025/09/09/germanium-valley/#i-cant-quit-you

Conservative strongmen like Trump and Musk exalt the value of self-determination – for themselves, at everyone else's expense. Trump's ability to stiff the contractors that built his hotels and Musk's ability to rain flaming rocket debris down on the people who live near his company town require that everyone else be stripped of protections. They get to determine their own course in life by taking away your ability to determine your own. Their right to swing their fists ends two inches past your nose:

https://pluralistic.net/2026/04/21/torment-nexusism/#marching-to-pretoria

Cheaters and bullies hate the rule of law, hence Trump's endless repetition of Nixon's mantra: "When the president does it, that means it is not illegal." But not everyone can be president, and the world is full of would-be Trumps in positions of power who would like to be able to commit crimes without fear of legal repercussions. For these people, we have something called "binding arbitration."

"Binding arbitration" is a widely used contractual term that forces you to surrender your right to sue a company that wrongs you. Instead of suing, binding arbitration forces you to take your case to an "arbitrator"; that is, a lawyer who is paid by the company that cheated you or maimed you or killed your loved one. The arbitrator decides whether their client is guilty, and, if so, how much that client owes you. The entire process is confidential and it is non-precedential, meaning that if a company rips off millions of people in the same way, each of them has to arbitrate their claims separately, and people who are successful can't share their tactical notes with the people who are next in line to plead for justice.

That makes binding arbitration another key weapon in the conservative movement's war on choice: not just jobs you can't quit and politicians you can't vote out of office, but also companies you can't sue. Binding arbitration is a creation of the Federalist Society and their champion Antonin Scalia, who authored a series of Supreme Court dissents and (ultimately) decisions that opened the door for binding arbitration everywhere:

https://pluralistic.net/2025/10/27/shit-shack/#binding-arbitration

Given the Fedsoc's role in shoving binding arbitration down every worker and shopper's throat, it's decidedly odd that they invited Ashley Keller to be their keynote debater in 2021, where he argued that "concentrated corporate power is a greater threat than government power":

https://www.youtube.com/watch?v=aY5MrHGjVT8

Keller is a powerhouse lawyer, and an avowed conservative, who has pioneered many tactics for overcoming binding arbitration clauses. He helped create "mass arbitration," bringing thousands of arbitration cases on behalf of Uber drivers who'd had their wages stolen by the company. Since Uber has to pay the arbitrators in each of those cases, they faced a much larger bill than they would face in any possible class action suit:

https://www.reuters.com/article/otc-uber-frankel-idUKKCN1P42OH/

Mass arbitration cases spread to all kinds of large firms that used petty grifts to steal from thousands or even millions of people, like Intuit, who deceive – and rip off – millions of Americans every year with their fake Turbotax "free file" system:

https://pluralistic.net/2022/02/24/uber-for-arbitration/#nibbled-to-death-by-ducks

Mass arbitration worked so well that Amazon actually revised its terms of service to remove binding arbitration from their terms of service, because they realized that they'd be better off facing class action suits:

https://pluralistic.net/2021/06/02/arbitrary-arbitration/#petard

Of course, the point of binding arbitration was never to create a streamlined system of justice – it was to bring about a world of no justice, where you have no right to sue. It's part of the decades-old "tort reform" movement that the business lobby has used to take away your right to sue altogether. Any time you hear about a seemingly crazy lawsuit (like the urban legends about the McDonald's "hot coffee" case), you're being propagandized for a world without legal consequences for companies that defraud you, steal from you, injure you, or kill you:

https://pluralistic.net/2022/06/12/hot-coffee/#mcgeico

That's why companies (like Bluesky) are now trying terms of service that also ban you from mass arbitration, while retaining the right to consolidate claims into a mass arbitration case if that's advantageous to them:

https://pluralistic.net/2025/08/15/dogs-breakfast/#by-clicking-this-you-agree-on-behalf-of-your-employer-to-release-me-from-all-obligations-and-waivers-arising-from-any-and-all-NON-NEGOTIATED-agreements

But Keller keeps finding creative ways around binding arbitration. He's currently bringing thousands of arbitration claims against Google, on behalf of advertisers whom Google stole from (Google is a thrice-convicted monopolist, and they lost a case last year over their monopolization of ad-tech, where they were found to have defrauded advertisers).

He also just argued before the Supreme Court in a case against Monsanto over the company's attempt to escape liability for causing cancer in farmworkers with their Roundup pesticide:

https://www.npr.org/2026/04/27/nx-s1-5793804/supreme-court-monsanto-roundup-arguments

Keller appears in the latest episode of the Organized Money podcast, for a fascinating interview about his work and outlook, and how he reconciles his work fighting corporate power with his identity as a movement conservative:

https://www.organizedmoney.fm/p/the-conservative-who-torments-big

Keller's first big, important point is that (basically), capitalists hate capitalism (see above). He cites Milton Friedman, who "always said that the tort system is the best way to ensure that companies behave and follow the rules." For Keller (and Friedman) the alternative to private litigation against bad businesses is "government regulation and the alphabet soup of Washington, DC agencies [that] try and police these companies."

But, of course, the businesses that want binding arbitration and tort reform (so they can't be sued) also want to "dismantle the administrative state" (so they can't be regulated). They're the impunity movement, the "when the president does it, that means it is not illegal" movement, the "heads I win, tails you lose" movement. They're the caveat emptor movement, the "that makes me smart" movement:

https://pluralistic.net/2024/12/04/its-not-a-lie/#its-a-premature-truth

They don't want efficient markets, with the ever-present threat of a better competitor putting them out of business. They want feudalism. They want to go meta. They want to have the kind of self-determination you can only achieve by taking away everyone else's self-determination.

I was very struck by Keller's claim to be engaged in an exercise that Milton Friedman identified as the best one for making markets work. One of Keller's most forceful points is that class action suits are especially important for reining in petty, recurrent grifts, the junk fees that are the hallmark of enshittification.

He quotes his old boss, the archconservative judge Richard Posner, who said "Only a lunatic or a fanatic sues for $20." But if you multiply a $20 junk fee by ten million purchases, a company can use that fact to make hundreds of millions of dollars. That's real folding money, which is why every company has figured out a way to whack you for a $20 junk fee.

There are two ways to end this racket: one is litigation, the other is regulation, and the capitalism-hating-capitalists who run the world want to kill both. That's why the business lobby smears lawyers like Keller as being "vultures." But as Matt Stoller says, "vultures look aggressive and whatnot, but when you actually get rid of vultures out of an ecosystem, all sorts of things go haywire."

I love this point. Vultures live off the disgusting, rotting crap that would otherwise pile up around us, breeding disease and emitting an unbearable stench. If plaintiff-side, no-win/no-fee lawyers are vultures, then junk fees, wage theft, and the million petty frauds they fight are the disgusting, rotting crap that vultures feed off of – and the harder we make it for our noble vulture lawyers, the more disgusting, rotting crap we have to live with, hence the unbearable stench that is all around us.

Listening to Keller was a fascinating exercise. I thoroughly disagree with him about many things – the way he characterized Section 230 of the Communications Decency Act couldn't have been more wrong – but it's quite bracing to hear a capitalist who doesn't hate capitalism defend it against the vast majority of capitalists, who hate capitalism more than any socialist ever did.

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Hey look at this (permalink)

• Why Reddit blocked my daily visit to its mobile website https://arstechnica.com/information-technology/2026/05/why-reddit-blocked-my-daily-visit-to-its-mobile-website/

• "The Score Is Four/and Next Time More" https://rickperlstein.substack.com/p/the-score-is-fourand-next-time-more

• Bodyform | Never Just a Period https://www.youtube.com/watch?v=GpFYcj2sJ3A

• Getting Digital Fairness Right: EFF's Recommendations for the EU's Digital Fairness Act https://www.eff.org/deeplinks/2026/04/dos-and-donts-eus-digital-fairness-act-effs-recommendation-regulating-digital

• DHS Demanded Google Surrender Data on Canadian’s Activity, Location Over Anti-ICE Posts https://www.wired.com/story/dhs-demanded-google-surrender-data-on-canadians-activity-location-over-anti-ice-posts/

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Object permanence (permalink)

#25yrsago Torvalds responds to Microsoft's Craig Mundie https://web.archive.org/web/20011019132822/http://web.siliconvalley.com/content/sv/2001/05/03/opinion/dgillmor/weblog/torvalds.htm

#25yrsago Bankrupt Argentina considers banning proprietary code and switching to free software https://web.archive.org/web/20010614131152/https://www.wired.com/news/business/0,1367,43529,00.html

#20yrsago Danny Hillis on how games are(n’t) like a theme park https://web.archive.org/web/20060513182649/https://www.wired.com/wired/archive/14.04/disney.html

#20yrsago Mission Impossible opening marked by anti-Scientology flyover https://web.archive.org/web/20060514000636/http://hailxenu.net/

#20yrsago SmartFilter targets Distributed Boing Boing – how to defeat it https://memex.craphound.com/2006/05/04/smartfilter-targets-distributed-boing-boing-how-to-defeat-it/

#15yrsago John Ashcroft assumes charge of “ethics and professionalism” for Blackwater https://web.archive.org/web/20110507103749/https://www.wired.com/dangerroom/2011/05/blackwaters-new-ethics-chief-john-ashcroft/

#15yrsago Rumsfeld and other US officials say torture didn’t help catch bin Laden https://web.archive.org/web/20110505012303/https://www.wired.com/dangerroom/2011/05/surveillance-not-waterboarding-led-to-bin-laden/

#15yrsago Rental laptops equipped with spyware that can covertly activate the webcam and take screenshots https://web.archive.org/web/20110506130156/http://www.ajc.com/business/pa-suit-furniture-rental-933410.html

#15yrsago Parallel machine made out of 17 stitched-together Apple //e’s https://web.archive.org/web/20110504194313/http://home.comcast.net/~mjmahon/AppleCrateII.html

#15yrsago Sarah Palin and James Lankford: giving $4 billion of taxpayer money to oil companies doesn’t matter https://web.archive.org/web/20110505220640/https://thinkprogress.org/2011/05/03/palin-lankford-oil-subsidies/

#15yrsago Stephen Harper violated election laws https://web.archive.org/web/20110701000000*/http://www.examiner.com/canada-headlines-in-canada/stephen-harper-breaks-election-rules-campaigns-on-radio-on-election-day

#15yrsago History and future of bin Ladenist extremism https://www.juancole.com/2011/05/obama-and-the-end-of-al-qaeda.html

#10yrsago Belushi widow & Aykroyd produce Blues Brothers animated series https://deadline.com/2016/05/the-blues-brothers-animated-comedy-series-dan-aykroyd-1201748389/

#10yrsago Chinese censorship: arbitrary rule changes are a form of powerful intermittent reinforcement https://www.techdirt.com/2016/05/04/why-growing-unpredictability-chinas-censorship-is-feature-not-bug/

#10yrsago US government and SCOTUS change cybercrime rules to let cops hack victims’ computers https://www.wired.com/2016/05/now-government-wants-hack-cybercrime-victims/

#10yrsago After advertiser complaints, Farm News fires editorial cartoonist who criticized John Deere & Monsanto https://web.archive.org/web/20160505042150/https://www.kcci.com/news/longtime-iowa-farm-cartoonist-fired-after-creating-this-cartoon/39337816

#10yrsago Outstanding rant about establishment pearl-clutching over Trump https://web.archive.org/web/20160505033357/https://theconcourse.deadspin.com/george-will-is-a-haughty-dipshit-1774449290

#10yrsago The Planet Remade: frank, clear-eyed book on geoengineering, climate disaster, & humanity’s future https://memex.craphound.com/2016/05/04/the-planet-remade-frank-clear-eyed-book-on-geoengineering-climate-disaster-humanitys-future/

#5yrsago Qualia https://pluralistic.net/2021/05/04/law-and-con/#law-n-econ

#5yrsago Whales decry the casino economy https://pluralistic.net/2021/05/04/law-and-con/#all-bets-are-off

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Upcoming appearances (permalink)

• Guelph: Musagetes Lecture, May 8
  https://riverrun.ca/whats-on/guelph-lecture-on-being-2026/

• Barcelona: Internet no tiene que ser un vertedero (Global Digital Rights Forum), May 13
  https://encuentroderechosdigitales.com/en/speakers/

• Virtual: How to Disenshittify the Internet with Wendy Liu (EFF), May 14
  https://www.eff.org/event/effecting-change-enshittification

• Berlin: Re:publica, May 18-20
  https://re-publica.com/de/news/rp26-sprecher-cory-doctorow

• Berlin: Enshittification at Otherland Books, May 18
  https://www.otherland-berlin.de/de/event-details/cory-doctorow-in-der-friesenstrasse-23-kreuzberg-praesentiert-von-otherland.html

• Berlin: Enshittification at Otherland Books, May 19
  https://www.otherland-berlin.de/de/event-details/cory-doctorow.html

• Hay-on-Wye: HowTheLightGetsIn, May 22-25
  https://howthelightgetsin.org/festivals/hay/big-ideas-2

• SXSW London, Jun 2
  https://www.sxswlondon.com/session/how-big-tech-broke-the-internet-b3c4a901

• NYC: The Reverse Centaur's Guide to Life After AI with Jonathan Coulton (The Strand), Jun 24
  https://www.strandbooks.com/cory-doctorow-the-reverse-centaur-s-guide-to-life-after-ai.html

• Edinburgh International Book Festival with Jimmy Wales, Aug 17
  https://www.edbookfest.co.uk/events/the-front-list-cory-doctorow-and-jimmy-wales

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Recent appearances (permalink)

• Enshittification (99% Invisible)
  https://99percentinvisible.org/episode/666-enshittification/

• Artificial Intelligence: The Ultimate Disruptor, with Astra Taylor and Yoshua Bengio (CBC Ideas)
  https://www.cbc.ca/listen/live-radio/1-23-ideas/clip/16210039-artificial-intelligence-the-ultimate-disruptor

• When Do Platforms Stop Innovating and Start Extracting? (InnovEU)
  https://www.youtube.com/watch?v=cccDR0YaMt8

• Pete "Mayor" Buttigieg (No Gods No Mayors)
  https://www.patreon.com/posts/pete-mayor-with-155614612

• The internet is getting worse (CBC The National)
  https://youtu.be/dCVUCdg3Uqc?si=FMcA0EI_Mi13Lw-P

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Latest books (permalink)

• "Canny Valley": A limited edition collection of the collages I create for Pluralistic, self-published, September 2025 https://pluralistic.net/2025/09/04/illustrious/#chairman-bruce

• "Enshittification: Why Everything Suddenly Got Worse and What to Do About It," Farrar, Straus, Giroux, October 7 2025
  https://us.macmillan.com/books/9780374619329/enshittification/

• "Picks and Shovels": a sequel to "Red Team Blues," about the heroic era of the PC, Tor Books (US), Head of Zeus (UK), February 2025 (https://us.macmillan.com/books/9781250865908/picksandshovels).

• "The Bezzle": a sequel to "Red Team Blues," about prison-tech and other grifts, Tor Books (US), Head of Zeus (UK), February 2024 (thebezzle.org).

• "The Lost Cause:" a solarpunk novel of hope in the climate emergency, Tor Books (US), Head of Zeus (UK), November 2023 (http://lost-cause.org).

• "The Internet Con": A nonfiction book about interoperability and Big Tech (Verso) September 2023 (http://seizethemeansofcomputation.org). Signed copies at Book Soup (https://www.booksoup.com/book/9781804291245).

• "Red Team Blues": "A grabby, compulsive thriller that will leave you knowing more about how the world works than you did before." Tor Books http://redteamblues.com.

• "Chokepoint Capitalism: How to Beat Big Tech, Tame Big Content, and Get Artists Paid, with Rebecca Giblin", on how to unrig the markets for creative labor, Beacon Press/Scribe 2022 https://chokepointcapitalism.com

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Upcoming books (permalink)

• "The Reverse-Centaur's Guide to AI," a short book about being a better AI critic, Farrar, Straus and Giroux, June 2026 (https://us.macmillan.com/books/9780374621568/thereversecentaursguidetolifeafterai/)

• "Enshittification, Why Everything Suddenly Got Worse and What to Do About It" (the graphic novel), Firstsecond, 2026

• "The Post-American Internet," a geopolitical sequel of sorts to Enshittification, Farrar, Straus and Giroux, 2027

• "Unauthorized Bread": a middle-grades graphic novel adapted from my novella about refugees, toasters and DRM, FirstSecond, April 20, 2027

• "The Memex Method," Farrar, Straus, Giroux, 2027

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Colophon (permalink)

Today's top sources:

Currently writing: "The Post-American Internet," a sequel to "Enshittification," about the better world the rest of us get to have now that Trump has torched America. Third draft completed. Submitted to editor.

• "The Reverse Centaur's Guide to AI," a short book for Farrar, Straus and Giroux about being an effective AI critic. LEGAL REVIEW AND COPYEDIT COMPLETE.

• "The Post-American Internet," a short book about internet policy in the age of Trumpism. PLANNING.

• A Little Brother short story about DIY insulin PLANNING

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This work – excluding any serialized fiction – is licensed under a Creative Commons Attribution 4.0 license. That means you can use it any way you like, including commercially, provided that you attribute it to me, Cory Doctorow, and include a link to pluralistic.net.

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Quotations and images are not included in this license; they are included either under a limitation or exception to copyright, or on the basis of a separate license. Please exercise caution.

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