There were five different types of platforms: advertising, cloud, industrial, product, and lean. Chapter 2 focused more on the typology and genesis of platforms, the data usage on optimizing the production process and the marketing strategy. Quantitative easing encouraged investors to seek higher yields and risky assets by investing in unprofitable and unproven tech companies. A rapid interest rate reductions and loose monetary policy were one of the critical consequences of the dot.com bust, and it also continued in the crisis of 2008. In 1998, as the East Asian Crisis, the boom began to stumble. The average size of VC deals quadrupled between 19, and all the companies aimed for monopolistic dominance by a massive injection of capital into the fixed assets of the internet. The rise of the internet facilitated the boom of dot.com, which was driven by a large amount of venture capital (VC). Information technology started to deploy in early jobs and small consumer goods outsourcing, as those operations mainly took offshores. Global manufacturing reached a point of overcapacity along with the participation of Japanese and German manufacturers.

The deskilling technologies enabled cheaper and more pliable workers to come in and replace the skilled labourers, which inevitably increased productivity and profit in the beginning.

Nick Srnicek, the author of the book, shared his ideas in three parts of the book.Ĭhapter one outlined technology's influence on economic development from the 1970s downturn to the crisis of 2008. Platform Capitalism was published in 2017 and depicted the relationship between capitalism and the platform.

Srnicek platform capitalism