Need help answering the following social science reading reflection questions us

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Need help answering the following social science reading reflection questions using Srnicek, 2016, Ch 2 & 3 | Reading can be viewed at copy url:

https://www.pdf.investintech.com/preview-frames.php?id=WGMxUkVjRVMxVTZqTTBFZ25yOFhwbEY0SWZDNmlCbERtZE1xVGRSWkdlZVM3M3lEUkxyZVZhazlWRXlkOXpLbFhpeEtueVl5NEdDVXo3d3pYempPMnY4eVNOZlJyc2lUV0ROWmk5alZIbloveFF1N0k2ZmQxQmZIT3NaZUN4eVI=

Questions:

•Citation: Author, title, and publication details

•Nutshell Statement: One-sentence summary of the main point or argument

•Key Concepts: Three principal terms / ideas the author invented or employed, and explain them

•Secondary Ideas: List as many as five one-phrase summaries of supporting evidence or concepts

•Critical Questions: List at least one important question you would like to discuss

Explanation / Answer

Nick Srnicek (2016). Platform Capitalism. Cambridge and Malden: Polity Press.

Srnicek argues that essential production of money and economy is now based and controlled by small number of platforms who has complete monopoly in the market, and that these platform creates new structure within the existinb capitalism that hinders the vision of a post-capitalist future. They not only pose challenge in a creation of a post-capitalist era but also censor,sustain,socialise lose and privatise profits at their own terms ,within the current crony capitalist era.He presents, through facts that the current trend of the global economy is an integral part of the capitalist process, and that the political/social-cultural actors that are used by the capitalist to boost the economy , are driven by business needs rather than cultural change. The platform that he proposes, uses 'digital infrastructure' to connect the audience, customers, sellers, producers etc. These platform survive on 'network effect',ie the more consumer traffic a platform accumulates, the more value and profit it generates from its users.Last but not the least, he examines the 'constant user engagement' feature of the platform, which extracts data from its users by introducing incentives and offers to its users. Srnicek interprets the platform business and concludes that "will be forced either to develop novel means of extracting a surplus from the general economic pie or to fold their expansive cross-subsidising monopolies into much more traditional business forms’"(125). This simply means that these modern day capitalist system will either have to constantly re-invent their economic structure to accumulate and sustain customers and profit revenues, or face an inevitable economic collapse. The one critical question that I pondered upon as I read his work is his negligence on discussing the corporate - political alliance to create these platforms that not only puts heavy surveillance on the population(consumer) by borrowing data from these platforms, but also use the consumer data for persuade them towards a particular political ideology. The alliance between plaform (corporate) and politics should be understood to examine the politically persuaded economy of any nation.

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