- The digitization of the economy has led to the emergence of digital capitalism as a new form of value creation.
- In digital capitalism, personal data has become a valuable commodity.
- Tech firms accumulate wealth by tracking and selling consumer data.
- Digital capitalism relies on centralized control of data and the commodification and commercialization of user data.
- Value creation in digital capitalism is driven by online and mobile activity, rather than labor.
- Financial intermediaries and tech firms are the custodians of commercial and social assets in today’s economy.
- The convergence of digital capitalism and financial engineering could disrupt traditional banks and asset managers.
- In this new capitalist system, profits and capital are primarily produced in the marketplace and cyberspace.
- The true owners of capital are one step removed, with intermediaries managing other people’s assets.
- Blockchain technology may restore some autonomy, but for now, users are part of an emergent capitalist system.
The digitization of the economy has led to the rise of digital capitalism, where personal data has become a valuable commodity. Tech firms accumulate wealth by tracking and selling consumer data, superimposing an economic scorecard on social and psychological constructs. In this new capitalist system, value creation is driven by online and mobile activity, rather than labor. Financial intermediaries and tech firms act as custodians of commercial and social assets. The convergence of digital capitalism and financial engineering could disrupt traditional banks and asset managers. In this modern capitalist system, profits and capital are primarily produced in the marketplace and cyberspace. The true owners of capital are one step removed, with intermediaries managing other people’s assets. While blockchain technology may restore some autonomy, users are currently part of an emergent capitalist system.
