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Published by Matthew Davidson on Wed, 13/03/2019 - 7:19pm
Mobile telcos are a paradigmatic financialised industry. Why did they need to scan my driver's license and get a signature before handing over a little computer? Because I created a financial asset. That's what the transaction is about. The phone is just bait, to be thrown away when the asset matures and the proceeds are rolled over into the next tranche of plans.