When firms can impose switching costs on creators and audiences, more broadly on business customers and retail customers. When they can impose high switching costs on those entities, so that if you leave the platform, you have to give up something important. That gives them the economic power to shift surpluses away from both buyers and sellers to the platform operator. So TikTok has an idiosyncratic format that makes it hard to do TikTok production that works well on other platforms.
Biden will get a new Chief of Staff, the U.S. Attorney has questions for Amazon, and Elon takes the stand. Over at Netflix: strong subscriber growth, and Reed Hastings is out as Co-CEO. And of course, more layoffs. Then we’re joined by Friend of Pivot Cory Doctorow on his new book, “Chokepoint Capitalism: How Big Tech and Big Content Captured Creative Labor Markets and How We’ll Win Them Back.”
Cory is on Twitter at @doctorow and you can find his book here.
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