From day one, tech platforms like Uber, Airbnb and Deliveroo made the deliberate strategic decision to ignore regulations all over the world with the explicit intention of establishing sector-dominating monopolies, all the while claiming they were disrupting them. Far more than any technological advance or entrepreneurial innovation, it is this blatant, willful disregard for the law that has been their core competitive advantage and the key to their success.
Led by charismatic founders, these PR-savvy business darlings charmed the media, investors and government ministers alike with their win-win-win dream of democratised prosperity – harness the power of technology to unlock closed markets, empower individuals to get their own piece of the pie, and provide a better product to consumers. But the reality behind the irresistible ‘make the world a better place and get rich doing it’ pitch tells a far more sinister story.
Fuelled with limitless venture capital funding and defined by a no-holds-barred ruthlessness, they destroyed competitors through brutal business practices that operated outside both the spirit and the letter of the law; while the legislators meant to regulate them were captured by the legions of lobbyists in their employ. With a singleminded focus on the explosive growth required for the multi-billion IPO end goal, the wellbeing of their platform’s users—both providers and consumers—were little more than after- thoughts, with hardly any protocols put in place to ensure their safety, either financially or personally.
It comes then as no surprise that the stories of abuse and exploitation are shocking; but little of the underbelly has surfaced thanks to armies of highly-profile spin doctors. The end result is a trickle-up economics nightmare that has seen a tiny minority of investors amass unimaginable wealth while the masses have fared far worse than anyone thought possible. Weaving insights from a “who’s who” of silicon valley insiders, whistle-blowers and industry experts together with unforgettable stories of everyday citizens caught in these enterprise’s globally spun webs, ‘Unicorn’ an extraordinary journey through the dream turned nightmare in the new age of big tech driven economies.