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51 U.C.D. L. Rev. 133 (2017-2018)
Law for the Platform Economy

handle is hein.journals/davlr51 and id is 139 raw text is: Law for the Platform Economy Julie E. Cohen* This Article explores patterns of legal-institutional change in the emerging, platform-driven economy. Its starting premise is that the platform is not simply a new business model, a new social technology, or a new infrastructural formation (although it is also all of those things). Rather, it is the core organizational form of the emerging informational economy. Platforms do not enter or expand markets; they replace (and rematerialize) them. The article argues that legal institutions, including both entitlements and regulatory institutions, have systematically facilitated the platform economy's emergence. It first describes the evolution of the platform as a mode of economic (re)organization and introduces the ways that platforms restructure both economic exchange and patterns of information flow more generally. It then explores some of the ways that actions and interventions by and on behalf of platform businesses are reshaping the landscape of legal entitlements and obligations. Finally, it describes challenges that platform-based intermediation of the information environment has posed for existing regulatory institutions and traces some of the emerging institutional responses. TABLE OF CONTENTS 1. FROM MARKETS TO PLATFORMS. ............. .............. 136 A. Prologue: Access and Legibility ......................... 137 B. How Platforms Shape Information Flow, part 1: The Datafication of Everyday Life ....... .................. 140 C. A Platform Is Not (Just) a Network ................. 143 D. How Platforms Shape Economic Exchange ..... ....... 145 Copyright Q 2017 Julie E. Cohen. Mark Claster Mamolen Professor of Law and Technology, Georgetown Law. My thanks to Anupam Chander, Deven Desai, Kristen Eichensehr, Christoph Graber, Margot Kaminski, Paul Ohm, Rebecca Tushnet, Kevin Werbach, and participants in the UC Davis Law Review Symposium on Future- Proofing Law for their helpful comments, and to Jade Coppieters and Natalie Gideon for research assistance. 133

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