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The promise of the fifth estate is being squeezed

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The promise of the fifth estate is being squeezed

JD Vance told a funny story at the American Dynamism Summit in Washington this week. He recalled a Silicon Valley dinner he and his wife Usha attended, before he became vice-president, where the talk had been of machines replacing humans in the workforce. According to Vance, an unnamed chief executive from one giant tech company said that the jobless of the future could still find purpose in fully immersive digital gaming. “We have to get the hell out of here. These people are effing crazy,” Usha texted him under the table.

Why Vance thought it a good idea to tell this story is puzzling, given it contradicted the central theme of his speech — but at least it got a laugh. As Usha Vance colourfully implied, the worldview of the techno-libertarians and ordinary workers appears antagonistic. But her husband’s main message was the opposite: that the tech sector and ordinary workers had a shared interest in promoting the “great American industrial renaissance”.

Vance’s speech was a clear attempt to reconcile the two warring wings of President Donald Trump’s political movement: the tech bro oligarchy — or broligarchy — led by Elon Musk, and the Maga nationalists animated by Steve Bannon. Bannon has denounced globalist tech leaders as anti-American and described Musk as a “truly evil person” and a “parasitic illegal immigrant”.

Vance declared himself a “proud member of both tribes”. He may be right that Musk and Bannon have much in common in spite of their pungent differences. They are both elitist anti-elitists with a shared mission to overturn the power of the administrative state and the mainstream press.

Historians once described the three ancient estates of power as the clergy, nobility and commoners. A fourth estate — the press — was later added. And a fifth estate — social media — has since emerged. But the fifth estate could be seen as a software update of the third one: commoners armed with smartphones. In that view, Bannon may be a tribune of the third estate while Musk is a champion of the fifth. In the Trump movement, the two have fused.

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In his book The Fifth Estate, William Dutton argued that social media represented a new and mostly positive form of power allowing individuals to access alternative sources of information and mobilise collective action. He sees Greta Thunberg, the Swedish schoolgirl who emerged as a global environmental campaigner, as its poster child. “It is the scale of the technology that changes the role of the individual in politics and society,” he tells me.

Mark Zuckerberg, Meta’s chief executive, has also declared the fifth estate to be a global public good giving voice to the once-voiceless. “People having the power to express themselves at scale is a new kind of force in the world,” he said in 2019.

That all sounds great in theory. But the negative effects of social media have become increasingly striking: misinformation, incitement to hatred and the emergence of an “anxious generation” of teenagers. Social media has mutated from a technology of liberation to one of manipulation. It has corroded the political process and been hijacked by anti-establishment populists. 

One study of 840,537 individuals across 116 countries from 2008 to 2017 found that the global expansion of the mobile internet tended to reduce approval of government. This trend was especially marked in Europe, undermining support for incumbent governments and boosting anti-establishment populists. “The spread of the mobile internet leads to a decline in confidence in the government. When the government is corrupt people are more likely to understand that the government is corrupt,” one of the co-authors of the paper Sergei Guriev, now dean of London Business School, tells me.

Populist politicians have been quick to exploit voter dissatisfaction aroused by social media and use the same technology to mobilise support in cheap and interactive ways. “It is normal for anti-elite politicians to use new technologies that are not yet embraced by the elites,” Guriev says. 

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The fifth estate has certainly rattled the old gatekeepers of information in politics and the media. But new digital gatekeepers have emerged who control who sees what on the internet. Trump’s “first buddy” Musk bought Twitter, now X, which promotes or demotes posts in unaccountable ways. The free-speech absolutists who denounce moderation and government “censorship” are often providing cover for more insidious forms of algorithmic control.

Progressive campaigners acknowledge they are on the back foot on social media but they have not abandoned hope. “It is more important than ever to fight for the future. We need to use these tools as well as we can,” says Bert Wander, chief executive of Avaaz, a crowdfunded global campaigning platform. With 70mn members in 194 countries, Avaaz mobilises action against corruption and campaigns for algorithmic accountability, as included in the EU’s Digital Services Act. “We need to communicate in technicolour with all the emotion and resonance that the nationalist populists use,” Wander says.

For such progressives, three bracing truths emerge from this debate. The power of the fifth estate is a disruptive force that is not going away. Populists have been particularly smart in their use of it. And to compete, progressives drastically need to up their game.

john.thornhill@ft.com

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Amazon accused of listing products from independent shops without permission

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Amazon accused of listing products from independent shops without permission

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Amazon has been accused of listing products from independent retailers without their consent, even as the ecommerce giant sues start-up Perplexity over its AI software shopping without permission.

The $2.5tn online retailer has listed some independent shops’ full inventory on its platform without seeking permission, four business owners told the Financial Times, enabling customers to shop through Amazon rather than buy directly.

Two independent retailers told the FT that they had also received orders for products that were either out of stock or were mispriced and mislabelled by Amazon leading to customer complaints.

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“Nobody opted into this,” said Angie Chua, owner of Bobo Design Studio, a stationery store based in Los Angeles.

Tech companies are experimenting with artificial intelligence “agents” that can perform tasks like shopping autonomously based on user instructions.

Amazon has blocked agents from Anthropic, Google, OpenAI and a host of other AI start-ups from its website.

It filed a lawsuit in November against Perplexity, whose Comet browser was making purchases on Amazon on behalf of users, alleging that the company’s actions risked undermining user privacy and violated its terms of service.

In its complaint, Amazon said Perplexity had taken steps “without prior notice to Amazon and without authorisation” and that it degraded a customer shopping experience it had invested in over several decades.

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Perplexity in a statement at the time said that the lawsuit was a “bully tactic” aimed at scaring “disruptive companies like Perplexity” from improving customers’ experience.

The recent complaints against Amazon relate to its “Buy for Me” function, launched last April, which lets some customers purchase items that are not listed with Amazon but on other retailers’ sites.

Retailers said Amazon did not seek their permission before sending them orders that were placed on the ecommerce site. They do not receive the user’s email address or other information that might be helpful for generating future sales, several sellers told the FT.

“We consciously avoid Amazon because our business is rooted in community and building a relationship with customers,” Chua said. “I don’t know who these customers are.”

Several of the independent retailers said Amazon’s move had led to poor experiences for customers, or hurt their business.

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Sarah Hitchcock Burzio, the owner of Hitchcock Paper Co. in Virginia, said that Amazon had mislabelled items leading to a surge in orders as customers believed they were receiving more expensive versions of a product at a much lower price.

“There were no guardrails set up so when there were issues there was nobody I could go to,” she said.

Product returns and complaints for the “Buy for Me” function are handled by sellers rather than Amazon, even when errors are produced by the Seattle-based group.

Amazon enables sellers to opt out of the service by contacting the company on a specific email address.

Amazon said: “Shop Direct and Buy for Me are programmes we’re testing that help customers discover brands and products not currently sold in Amazon’s store, while helping businesses reach new customers and drive incremental sales.

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“We have received positive feedback on these programmes. Businesses can opt out at any time.”

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Trump says Venezuela will turn over 30 million to 50 million barrels of oil to US | CNN Business

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Trump says Venezuela will turn over 30 million to 50 million barrels of oil to US | CNN Business

President Donald Trump said Tuesday night that Venezuela will turn over 30 million to 50 million barrels of oil to the United States, to be sold at market value and with the proceeds controlled by the US.

Interim authorities in Venezuela will turn over “sanctioned oil” Trump said on Truth Social.

The US will use the proceeds “to benefit the people of Venezuela and the United States!” he wrote.

Energy Secretary Chris Wright has been directed to “execute this plan, immediately,” and the barrels “will be taken by storage ships, and brought directly to unloading docks in the United States.”

CNN has reached out to the White House for more information.

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A senior administration official, speaking under condition of anonymity, told CNN that the oil has already been produced and put in barrels. The majority of it is currently on boats and will now go to US facilities in the Gulf to be refined.

Although 30 to 50 million barrels of oil sounds like a lot, the United States consumed just over 20 million barrels of oil per day over the past month.

That amount may lower oil prices a bit, but it probably won’t lower Americans’ gas prices that much: Former President Joe Biden released about four to six times as much — 180 million barrels of oil — from the US Strategic Petroleum Reserve in 2022, which lowered gas prices by only between 13 cents and 31 cents a gallon over the course of four months, according to a Treasury Department analysis.

US oil fell about $1 a barrel, or just under 2%, to $56, immediately after Trump made his announcement on Truth Social.

Selling up to 50 million barrels could raise quite a bit of revenue: Venezuelan oil is currently trading at $55 per barrel, so if the United States can find buyers willing to pay market price, it could raise between $1.65 billion and $2.75 billion from the sale.

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Venezuela has built up significant stockpiles of crude over since the United States began its oil embargo late last year. But handing over that much oil to the United States may deplete Venezuela’s own oil reserves.

The oil is almost certainly coming from both its onshore storage and some of the seized tankers that were transporting oil: The country has about 48 million barrels of storage capacity and was nearly full, according to Phil Flynn, senior market analyst at the Price Futures Group. The tankers were transporting about 15 million to 22 million barrels of oil, according to industry estimates.

It’s unclear over what time period Venezuela will hand over the oil to the United States.

The senior administration official said the transfer would happen quickly because Venezuela’s crude is very heavy, which means it can’t be stored for long.

But crude does not go bad if it is not refined in a certain amount of time, said Andrew Lipow, the president of Lipow Oil Associates, in a note. “It has sat underground for hundreds of millions of years. In fact, much of the oil in the Strategic Petroleum Reserve has been around for decades,” he wrote.

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Video: Nvidia Shows Off New A.I. Chip at CES

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Video: Nvidia Shows Off New A.I. Chip at CES

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Nvidia Shows Off New A.I. Chip at CES

At the annual tech conference, CES, Nvidia showed off a new A.I. chip, known as Vera Rubin, which is more efficient and powerful than previous generations of chips.

This is the Vera CPU. This is one CPU. This is groundbreaking work. I would not be surprised if the industry would like us to make this format and this structure an industry standard in the future. Today, we’re announcing Alpamayo, the world’s first thinking, reasoning autonomous vehicle A.I.

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At the annual tech conference, CES, Nvidia showed off a new A.I. chip, known as Vera Rubin, which is more efficient and powerful than previous generations of chips.

By Jiawei Wang

January 6, 2026

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