The Twitter float and free labour : the political economy of digital media

Nick Dyer-Witheford’s Cyber-Marx was published nearly 15 years ago, but there are continuing echoes of its dire promises today. The trends that Dyer-Witheford outlined—the growth of tech-giants in the communications field at the expense of democratic media practices and the radical shedding of jobs in the traditional mass media context—are confirmed by recent events. In November 2013, Twitter launched itself on the public share register, despite having no visible means of financial support, or even much of a business plan. The Twitter IPO tells us a lot about the economy of cyber-capitalism. Aligned to the trend of ‘technological unemployment’ is the rise of what some commentators call ‘digital serfdom’. This is not just growing unemployment, but also drastic under-employment of talented media professionals and an alarming rise in the number of media outlets that want to pay contributors in ‘exposure’, rather than in corporeal, fungible dollars and cents. This articlediscusses these trends and events in the context of the political economy of digital communication.