{"resolved":true,"match_type":"uuid","source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","requested_by":"printed_page","book":{"source_type":"original_book","book_id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","id":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","uuid":"50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title":"Digital Capitalism","normalized_title":"digitalcapitalism","author":null,"edition":null,"publisher":null,"year":null,"isbn":"2021022153","isbns":["2021022153","9781032119182","9781032119205","9781003222149","2405518376"],"parsed":true,"ai_readable":true,"document_type":"book","page_count":343,"navigation_url":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","title_url":"https://workshop.closeclaw.top/ai/title/Digital%20Capitalism","fixed_page_url_template":"https://workshop.closeclaw.top/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","path_api_url_template":"https://workshop.closeclaw.top/api/ai/book/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page/{printed_page}","read_url":"https://workshop.closeclaw.top/api/ai/read/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed","page_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/page","search_url":"https://workshop.closeclaw.top/api/ai/books/50b7f922-b940-4a05-8eb0-c4dc0d8ec9ed/search"},"page":{"printed_page":223,"pdf_page":237,"physical_index":237,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"9db8cac242c868cc8ee4ee559b3111a527c725772d5308ac66b2cce60c7be10a"},"chapter":"DIGITAL CAPITALISM","content":"Twitter and Weibo’s political economy is an indication that the social media economy is highly financialised and that investments in it are insecure. Financial crises can start if finance bubbles burst because there is a large divergence between actual profits and stock market valuation and investors lose confidence. The dot.com crisis in 2000 was an earlier expression of the high financialisation of the Internet economy, in which actual profits could not keep up with the promises of high stock market values. A new round of financialisation in the Internet industry has enabled the rise of social media while the ongoing world economic crisis showed us how crisis-prone financial markets are. Targeted advertising is a high-risk business. Users only klick on a small amount of ads and it is uncertain if and how often they purchase something on the landing pages to which they are transfered.\n\nThe future of the social media economy in China and the West is uncertain. It is clear that it is both in China and the West a highly financialised capitalist industry that depends on the influx of investments on finance markets and the confidence of advertisers that advertising works. There are many uncertainties associated with advertising capital accumulation models, especially concerning users’ privacy concerns, the use of ad-block technologies and other limits to advertising, and the question if targeted ads are effective or not. The possibility of a dwindling confidence of investors after some trigger event and a resulting social media crisis cannot be ruled out because financialising and corporatising the Internet is accompanied by huge risks that both China and the West are facing.\n\nSocial media also has cultural, political, and ideological dimensions. One question that arises in this context, that is in the context of political crisis, is what social media’s role is in revolutions.\n\n9.4 Social Media Ideology #1: “Twitter and Facebook Revolutions”\n\nTimes of economic crisis tend also to be times of a crisis of the state. In such situations, protests and revolutions do not necessarily emerge, but are more likely. In the course of the protests and revolutions that took place since 2008, the technodeterminist ideology that Twitter, Facebook, and other social media caused such collective political action could often be heard. Even the New York Times wrote that the “Egyptian revolution began on Facebook”.<sup>2</sup>\n\nChapter Nine | Social Media and the Capitalist Crisis\n\n223\n\nSocial Media Ideology #1: “Twitter and Facebook Revolutions”","previous_page":222,"next_page":224}