{"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":31,"pdf_page":45,"physical_index":45,"physical_index_base":0,"printed_page_status":"recognized","page_sha256":"4d45c845226d41fc3293902c90d61671730ff6433ad8a1a61add3bdc3b8fbbf7"},"chapter":"DIGITAL CAPITALISM","content":"In the data presented in Table 1.5, the culture and digital industry account for 17.7% of the world’s largest 2000 corporations’ profits. Finance capital controls 33.7% of profits, manufacturing and construction capital 13.1%, and mobility and transport capital 9.4%. These data indicate that the capitalist economy is finance capitalism, digital capitalism, industrial capitalism, mobility capitalism, etc. simultaneously. The dimensions of capitalism are not separate but interact. For example, finance capital in the form of venture capital often supports the “start-up” of digital corporations and thereby gains influence on ownership, management, and governance in the digital industry. And if digital companies become large enough, they often become listed on stock markets and thereby part of finance capital. The example shows how finance capitalism and digital capitalism interact in a dialectical manner.\n\nAlso, Ulrich Dolata (2019) warns that one should not characterise digital capitalism as a radically new type of economy or capitalism. He argues that the Internet and digitalisation do\n\nnot constitute a new demarcated economic sector—they are much too heterogeneous for that – but offer services that can be economically assigned to traditional sectors and markets such as commerce, advertising, and various service sectors. […] The technical and socio-economic transformations that have been apparent for some years now do not mark, historically speaking, a starting point or a radical new beginning – as is insinuated with the use of somewhat grandiose-sounding concepts such as digital capitalism, platform capitalism, or digital economics – but rather a new phase within the framework of a socio-technical paradigm shift. (Dolata 2019, 185–186, 194–195)\n\nCompanies such as Google (advertising), Facebook (advertising), Amazon (commerce), Netflix and Spotify (entertainment) or Uber (transportation) do not constitute novel sectors of the economy but transform existing ones. One should add that the software business where software licences are sold as commodities is relatively new. The world’s largest software companies are Microsoft, Oracle, SAP, VMware, Adobe, and Salesforce. In 2020, they were the world’s 13th (Microsoft), 94th (Oracle), 150th (SAP), 403rd (VMWare), 418th (Adobe), and 578th (Salesforce) largest transnational companies. The software industry did not exist before computing became commercially viable. These large software companies were created in 1975 (Microsoft), 1977 (Oracle), 1972 (SAP), 1998 (VMWare), 1982 (Adobe), and 1999 (Salesforce). In the long history of capitalism that according to Immanuel Wallerstein goes back to the 16th century when “our modern world-system came into existence as a capitalist world-economy” (Wallerstein 2004, x) and according to Braudel (1980) had its origins in the longue durée (long duration) of commercial capitalism that started in the 12th century in places such as the city-states of Venice, Florence, and Genoa (on the discussion of the history of commercial capitalism, see Banaji 2020 & Melants 2007 & Wood 2002), such companies are relatively novel.\n\nChapter One | Introduction: What is Digital Capitalism?\n\n31\n\nWhat is Digital Capitalism?","previous_page":30,"next_page":32}