The rise of the Silicon Valley oligarchs

“Public discussion about the dramatic rise of UBER is often themed as a titanic struggle between old-fashioned expensive taxi companies and a new digital upstart. UBER usually comes out on top because it’s new, cool and part of the ‘sharing economy’. But legal academic Frank Pasquale offers a very different perspective. Companies like UBER, he says, represent a threat to competitive capitalism. Their modus operandi is to use populist discourse – and vast financial backing from venture capitalists – to ignore laws, overwhelm markets and establish monopolies. Professor Pasquale talks of the ‘Silicon Valley oligarchs’ – and he warns they represent as a big a threat to capitalism as they do to the rights of workers.”


About dmf

alienist @ large, mostly on foot
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