Browsing by Author "Cooiman, Franziska"

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Colonialism, capital, and ressentiment
(2021) Cooiman, Franziska
Vogl’s new book relates finance to the internet industry and economics to politics. Introducing questions of colonial history and racism would further sharpen his view of the drivers and dynamics of contemporary capitalism.
COVID-19 and Platform Work in Germany: Lessons for the New Normal
(Weizenbaum Institute, 2024) Herzog, Lorena; Cooiman, Franziska; Gerber, Christine; Wandjo, David
During the COVID-19 pandemic, when public life was largely brought to a standstill by lockdowns and curfews, the vast presence of last-mile-delivery workers rushing to deliver parcels, grocery shopping or take- away-meals on the streets of German cities came to the fore. Platform-based service provision has become widespread in recent years. The platform economy more than quadrupled in recent years, reaching a size of 14bn EUR in 2020, compared to just 3bn EUR in 2016 (European Council 2023). COVID-19 has created an exceptional situation, both for platforms and platform workers: Platform companies faced unstable economic conditions and government restrictions. Meanwhile, many platform workers, especially in the delivery and mobility sector, were exposed to significant health risks as they ensured the upholding of social reproduction throughout the pandemic. However, public attention for the perils of platform workers has quickly died down again. Today, the platform economy continues to provide sought-after services and constitutes a source of income for a growing number of workers struggling with precarious employment conditions. It is crucial to take stock of the effects of COVID-19 on the platform economy and its workers – both to gain an understanding of the new normal of platform work in the post-pandemic economy and to determine the political changes necessary to shape this new normal in favor of fair and decent working conditions and a resilient economy.
Digitalisierung und die Pandemie – aus der Krise lernen
(Weizenbaum Institute, 2024-04) Gerber, Christine; Cooiman, Franziska; Butollo, Florian; Krzywdzinski, Martin; Wandjo, David; Danyeli, Matthias; Delicat, Nina; Herzog, Lorena
Die vorliegende Studie skizziert, welche Technologien und Anwendungen im Zuge der Pandemie in Unternehmen an Bedeutung gewonnen haben und welche Ressourcen ihnen bei der Digitalisierung zugutekamen. Die Befunde basieren auf 34 qualitativen Fallstudien in sechs Sektoren (Maschinenbau, Logistik, Automobil, Chemie, Finanzen, Gesundheit) sowie einer quantitativen Befragung von 540 Betrieben. Die Pandemie hat v.a. die Virtualisierung von Kommunikation und Interaktion in Betrieben vorangetrieben. Auf Automatisierungsprozesse hatte die Pandemie wenig unmittelbaren Einfluss. Zugleich zeigen die Befunde, dass Digitalisierungsprozesse in komplexen und sozialen Kontexten verortet sind und vielfältige Ressourcen (technisch, organisatorisch, finanziell) und Bedingungen (Unternehmenskultur, regulatorische Rahmenbedingungen) benötigen. Vielmehr als einen allgemeinen Digitalisierungsschub verstärkte sich die Kluft zwischen Digitalisierungsvorreiter\*innen und -nachzügler\*innen. Abschließend formuliert die Studie Handlungsempfehlungen an Politik und Sozialpartner\*innen.
Imprinting the economy: The structural power of venture capital
(2022) Cooiman, Franziska
This article analytically links asset management and the digital economy by analyzing the structural power of venture capital (VC) investors. Therefore, I propose the notion of imprinting, which describes how financial actors, enabled by their structural position, shape businesses according to their specific logic. Concretely, I argue that VCs’ logic is one of assetization, whereby VCs turn startups into assets for themselves and their capital providers. To do so, VCs seek hypergrowth, selecting only companies with the potential to grow fast and large and decouple financial value from business fundamentals. Instead of the threat of exit, VCs establish direct and indirect channels of control: legally, via preferred shareholder rights, board seats, and payout conditionality; and as participatory capital, offering operational advice and access to their network. The article contributes to a nuanced understanding of financial sector power in contemporary capitalism.
Supplementary Material for “Veni vidi VC – the backend of the digital economy and its political making”
(2023) Cooiman, Franziska
Table 1. List of interviews Table 2. EIF shareholder structure over time (EIF, 2014b, 2015a, 2021a) Table 3. EIF top 10 funds by signed equity operations 2011-19 Figure 1. Governing along the VC investment chain (author’s own illustration) Figure 2. European VC fundraising activity 1990-2020 (in €bn) Figure 3. Relative share of EIF in European VC market 1997-2020 (in €bn)
Veni vidi VC – the backend of the digital economy and its political making
(2023) Cooiman, Franziska
Debates on the digital economy neglect its political and financial underpinnings. This article develops the theoretical framework of governing along the investment chain to grasp the backend of the digital economy, that is venture capital and its political underpinnings. Concretely, I focus on the European Investment Fund and how the European Commission uses it to govern along the investment chain into the digital economy. Therefore I conceptualize venture capital from a political economy perspective, situate the European Investment Fund in the European polity, and analyze transformations in the shape of the investment chains, risk-return distribution, and infrastructural power in three distinct periods. I show how in acts of crisisled institutional innovation, the European Investment Fund has taken a central position in European venture capital investment chains, while skewing the risk-return relationship towards private markets and granting infrastructural power to venture capital funds. This dynamic inhibits the European Investment Fund from taking a progressive and proactive role in European venture capital markets.