Conclusion

Following the previous chapters, a model of online ‘social capitalism’ is constructed. In understanding the circuits of capital in the process of accumulating online social capital via visible metrics that incentivize social interaction as a competitive game, real capital is derived from the social media platforms as a result. This process thus also speaks to the continuing exploitation of social media users who become progressively embroiled with the accumulation of a resource in an artificial economy. The chapter also provides some possible suggestions as how to short-circuit this process, including the integration of critical digital media literacy in curricula, legislative changes in data ownership and use, a more thoughtful and critical recognition of the scope of digital labour, stronger efforts to combat bot-nets and click-farms, factors to consider if creating an alternative social media platform as a public utility. It also makes the case for more oversight and transparency in how algorithms are used to curate content, and ending metrification - removing entirely the numeric basis of evaluating one another’s contributions and activity on social media.