
Platform Capitalism (Theory Redux)

reducing the supply of government bonds should increase the demand for other financial assets. It should both lower the yield of bonds (e.g. corporate debt), thereby easing credit, and raise the asset prices of stocks (e.g. corporate equities) and subsequently create a wealth effect to spur spending.
Nick Srnicek • Platform Capitalism (Theory Redux)
The consequence was that global manufacturing reached a point of overcapacity and overproduction that put downward pressure on the prices of manufactured goods.
Nick Srnicek • Platform Capitalism (Theory Redux)
platforms often use cross-subsidisation:
Nick Srnicek • Platform Capitalism (Theory Redux)
A tool of survival is being marketed by Silicon Valley as a tool of liberation.
Nick Srnicek • Platform Capitalism (Theory Redux)
lean platforms
Nick Srnicek • Platform Capitalism (Theory Redux)
One of the most important consequences of this schematic model of capitalism is that it demands constant technological change. In the effort to cut costs, beat out competitors, control workers, reduce turnover time, and gain market share, capitalists are incentivised to continually transform the labour process.
Nick Srnicek • Platform Capitalism (Theory Redux)
alternatives forms of control via reputation systems,
Nick Srnicek • Platform Capitalism (Theory Redux)
‘network effects’: the more numerous the users who use a platform, the more valuable that platform becomes for everyone else.
Nick Srnicek • Platform Capitalism (Theory Redux)
Collective bargaining ensured that wages grew at a healthy pace, and workers were increasingly bundled into manufacturing industries with relatively permanent jobs, high wages, and guaranteed pensions. Meanwhile the welfare state redistributed money to those left outside the labour market.