Tuesday, Aug 16, 2022
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Is It ’Nuff Bang For Your Buck?

So, the platform economy essentially boils down to a numbers game.

The issue with players who describe themselves as platforms, or part of a new sharing economy, is that some of their claims are exaggerated. They have no contractual obligation toward the public. What this means is that they do not have an obligation towards customers, they simply claim to provide a platform where buyers and sellers meet. Consider app-based taxis—they do not take any responsibility and effectively indemnify themselves against the driver. Should something go wrong, the entire burden of regulation is borne by one suffering individual.

So, the platform economy essentially boils down to a numbers game. A game of how many customers, services, products and so on are on their platform. It is also not clear if they have the large number of products and services they claim. Seen another way, the customer goes to these platforms because it appears to promise a very high standard of quality and services. But is that really the case? It appears that there are overstatements about what is available, of what quality and at what price.

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