Midterm
For the midterm, read Kelly Pendergrast's essay and write a short paper (recommended length: 4-6 pages) to answer the following questions:
(1) Briefly outline Nick Srnicek’s arguments in chapter 2 of his book, Platform Capitalism. What is Srnicek’s main thesis? How does Srnicek define data and what is the fundamental role played by data in his framework ?
(2) Compare and contrast Srnicek's view on data with Pendergrast's view on data. According to Pendergrast, what are the shortcomings of understanding data as resources (like Srnicek does)? How do different understandings of data lead to different analyses of the problem with Big Data, and different intervention proposals?
(3) Articulate your own view on Big Data. How has your view been influenced by Srnicek, Pendergrast, or any of the texts that we have read so far in the class? If your view has not changed as the result of the class, articulate why.
Notes:
- A good midterm should demonstrate your understanding and critical engagement with the readings from Srnicek and Pendergrast. You need to show that you understand their arguments and that you can effectively compare and evaluate them. As a hint, the second prompt will require you to bring in materials from Srnicek's chapter 3 as well.
- Because this is a midterm, not a reading review, I also want you to take time to systematically review the materials, collect your thoughts, and reflect on how your own understanding and opinion has changed as the result of the class. That's the purpose of the third prompt. Here you can (and should) draw from all three modules' materials, but the emphasis is on critical and creative reflection.
Big Data
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Nick Srnicek’s Arguments
In Chapter 2 of "Platform Capitalism," Nick Srnicek examines data and its significance in platform capitalism. The core idea of Srnicek's argument is that data has evolved into a valuable resource and a significant source of economic value in modern capitalism. Srnicek describes data at the beginning as "the information generated by the digital tracking of human activity." (Srnicek, 2017). He contends that the power of data to record and evaluate numerous facets of human behavior, preferences, and interactions gives it enormous value. Digital platforms, which serve as a middleman between customers and service providers, gather this data.
Srnicek contends that data is crucial to platform capitalism because it enables the developing of highly specialized and customized services. In order to comprehend user behavior, anticipate preferences, and adjust their services as necessary, platforms rely on enormous amounts of data. Thanks to this data-driven strategy, platforms can give more effective advertising, suggest customized content, and pair consumers with certain products and services (Srnicek, 2017). He emphasizes how platforms' data collection and analysis significantly impact the economy and society. Data-driven platforms have the potential to transform whole industries, challenge established business paradigms, and solidify market leadership. They establish feedback loops in which increased data results in better services that draw more customers, increasing data production and strengthening their competitive edge.
Furthermore, Srnicek contends that data is a source of power rather than a neutral resource. According to him, data asymmetries lead to enormous inequalities between platform owners and users and between market leaders and smaller rivals. Platforms now have unparalleled access to user behavior insights that may be used for targeted advertising or sold to outside parties thanks to the acquisition and control of data. Srnicek's central argument of "Platform Capitalism" can be summed up as follows. Data is critical to modern capitalism and propels platform-based enterprises' expansion and domination. He highlights the importance of data in defining tailored services, their economic value, and the power dynamics surrounding their gathering and control.
Srnicek's versus Pendergrast's view of Data
Before comparing and contrasting Srnicek and Pendergrast's opinions on data, it is essential to comprehend each point of view. Srnicek's perspective on data is the case for a post-work society supported by automation and data-driven technologies. According to Srnicek, data is a valuable resource that can increase productivity, produce insights, and facilitate more effective decision-making (Snicek, 2017). He promotes the creation of a robust data infrastructure and increased data collection and analysis to promote societal and economic advancement.
Pendergrast explores the potential social effects of data and computer simulations. She expresses worry about the drawbacks and risks of using data primarily as resources (Pendergrast, 2019). Further, she makes the case that data-driven methodologies frequently oversimplify complicated phenomena, ignore crucial contextual considerations, and prioritize quantification over qualitative understanding. The ethical, social, and environmental aspects of data consumption must be taken into account.
Limitations of using Data as Resources
Pendergrast claims that viewing data as a resource only has severa...