Platforms for the People
The platform economy is facing serious challenges because of falling tech stocks, declining investments, and an increasing global cost of living crisis. The growth-at-all-costs model, dominated by venture capitalists and large tech companies, is facing a slew of regulatory challenges, worker revolts, and financial losses. This model has resulted in powerful yet unstable big tech companies that extract value from workers, providers, and customers. At the same time, this also creates an opening to actually rethink platform technologies and make a shift away from the extractive industry towards co-operative models that prioritize workers’ rights and local economic benefits.