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The current phase of digital capitalism characterized by platform consolidation, AI‑driven automation, and the closure of the open internet. In late‑stage digital capitalism, the web is no longer a space of experimentation but a few walled gardens; algorithms no longer connect you to information but deliver you to advertisers; labor is increasingly automated or gigified; and any alternative is either bought, crushed, or made invisible. The feeling of possibility that marked the early internet has been replaced by the sense that the platforms are now the internet.
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