Ford CEO frankly admits that the car of the future is a surveillance device that you pay to spy on you

Take Ford CEO Jim Hackett, whose recent Freakonomics Radio appearancecelebrated his company’s shift from a car business to a debt-issuance business, with Ford Credit now accounting for a third of the company’s profits. Hackett vowed to increase that share by using the leverage he could exert over his debtors to force them to let him spy on them (for example, by doubling down on GM’s car radio surveillance), and then cross-referencing this data on the data borrowers are forced to supply in order to buy their cars, and with data-sets from corporate acquisitions like the scooter company Spin.

It’s funny how these real-economy naifs keep getting taken for rides by finance svengalis, who convince them to convert their making-things-people-need businesses to extracting-value-at-loan-point businesses. Every single time, they end up like the bottom tier of a pyramid scheme, emptying their pockets to benefit the con-artists who kicked the whole business off.