In this text I’m going To talk about the platform capitalism by Nick Srincek. Platform capitalism is The new global business model in an age of social media platforms, big data Analytics and tech-centered venture capital investment. The big platform Operators, Google, Amazon, Facebook, Microsoft and Apple are all now competing For school business, while education technology investment has boomed in recent Years, thanks to funding for startup companies.
The idea of the “platform” in platform capitalism is not terribly easy to define. In broad Terms, a platform refers to internet-based applications such as social media Sites that process information and communication, channel social traffic, and Enable the creation and sharing of user-generated content. In the book Platform Capitalism, Nick Srnicek defines platforms as digital systems that allow two or More groups to interact, as intermediaries between users and as businesses that provide the hardware And software foundation for others to operate on. The only requirement for Platforms is digital interaction.
Platform Capitalism, Analyzes how capitalism is changing as a result of the financial crisis. The Advanced capitalism of the 21st century, which, according to Srnicek, is the Core of its transformation, focuses on the extraction and use of a special raw Material: data.
Srnicek presents Different types of platforms and the way companies use data in different ways To generate revenue. For all, however, the collection of huge amounts of data Is central and the platform itself offers the ideal instrument. Often, a Company combines several types and, therefore, the distinctions are analytical In nature.
·Advertising Platforms: Advertising platforms Focus on advertising as a source of revenue and are currently the most Successful type of platform with high revenues and significant profits. Ex: Google, Facebook