Socialism started as a valid reaction to the Industrial Revolution. People driven off farms came to the cities and were exploited by factory owners. They had a seemingly endless supply of labor who would work for almost nothing to survive. Marx saw this and put together his cockeyed theories—he didn’t count on the rise of Labor Unions and the fact that factory owners would begin to pay honest wages and even give back to society. Communism wasn’t needed but envy and greed took over and the desire to re-invent society (like they did in the French Revolution) The revolution went quickly out of control and became bloody—it always does.
If the revolution in New York runs its coarse we will see guillotines in Time’s Square.
That could as easily describe today's Big Tech oligarchs. And the ones who own Big Media, Big Finance, Big Pharma, etc.
Their greed is endless. They are "citizens of the world" who have contempt for the local populations. They want to remake society into a borderless, AI controlled dsytopia. And through transhumanism, remake themselves into gods.