Digital personal data is increasingly framed as the basis of contemporary economies, representing an important new asset class. Control over these data assets seems to explain the emergence and dominance of so-called “Big Tech” firms, consisting of Apple, Microsoft, Amazon, Google/alphabet, and Facebook. These US-based firms are some of the largest in the world by market capitalization, a position that they retain despite growing policy and public condemnation—or “techlash”—of their market power based on their monopolistic control of personal data. We (...) analyse the transformation of personal data into an asset in order to explore how personal data is accounted for, governed, and valued by Big Tech firms and other political-economic actors. However, our findings show that Big Tech firms turn “users” and “user engagement” into assets through the performative measurement, governance, and valuation of user metrics, rather than extending ownership and control rights over personal data per se. We conceptualize this strategy as a form of “techcraft” to center attention on the means and mechanisms that Big Tech firms deploy to make users and user data measurable and legible as future revenue streams. (shrink)

We bring together recent discussions on data capitalism and biocapitalization by studying value flows in consumer genomics firms—an industry at the intersection between health care and technology realms. Consumer genomics companies market genomic testing services to consumers as a source of fun, altruism, belonging and knowledge. But by maintaining a multisided or platform business model, these firms also engage in digital capitalism, creating financial profit from data brokerage. This is a precarious balance to strike: If these companies’ business models consist (...) of assetizing the pool of genomic data that they assemble, then part of their work has to revolve around obscuring to consumers any uncertainties that would potentially impinge on these processes of assemblage. We reflect on the nature of these practices and the market relationships that enable them, and we relate this reflection to debates around alternative market arrangements that would potentially mitigate the extractive tendencies of these and other digital health firms. (shrink)

The nature of farming is – still – an essentially biological, and thus volatile, system, which poses substantial challenges to its integration into financialized capitalism. Financial investors often seek stability and predictability of returns that are hardly compatible with agriculture – but which are increasingly seen as achievable through data and digital farming technologies. This paper investigates how farmland investment brokers engage with, perceive, and produce farming data for their investors within a co-constructive process. Tackling land’s ‘stubborn materiality’ for investment, (...) I argue, has material and immaterial components: it includes the re-imagination of farming as a financial asset that delivers reliable income streams for investors; and the re-engineering of farmland’s concrete materialities with digital farming technologies. Farmland investment brokers develop investor-suitable farmland imaginaries, underpinned by storytelling as well as the calculative ‘evidence’ of (digital) data. At the same time, digital technologies have become a key tool for transforming farms into ‘investment grade assets’ endowed with the rich data on farm performance and financial returns requested by investors. I conclude that the assetization and digitization of farmland need to be seen as closely intertwined and mutually reinforcing processes and identify key areas for future research on this intersection. (shrink)

Contemporary, technoscientific capitalism is characterized by the configuration of a range of “things” as assets or capitalized property. Accumulation strategies have changed as a result of this assetization process. Rather than entrepreneurial strategies based on commodity production, technoscientific capitalism is increasingly underpinned by rentiership or the appropriation of value through ownership and control rights, monopoly conditions, and regulatory or market devices and practices. While rentiership is often presented as a negative phenomenon in both neoclassical and Marxist political economy literatures—and much (...) in between—in this paper, I conceptualize rentiership as a technoeconomic practice and process framed by insights from science and technology studies. So, rather than a problematic “side effect” of capitalism, the concept of rentiership enables us to understand how different forms of value extraction constitute, and are constituted by, different forms of technoscience. This allows STS to contribute a distinctive analytical approach to ongoing debates in political economy about economic rents and rent-seeking. (shrink)

The rapid, recent emergence of new medical knowledge models has engendered a dizzying number of new medical initiatives, programs and approaches. Fields such as evidence-based medicine and translational medicine all promise a renewed relationship between knowledge and medicine. The question for philosophy and other fields has been whether these new models actually achieve their promises to bring about better kinds of medical knowledge—a question that compels scholars to analyze each model’s epistemic claims. Yet, these analyses may miss critical components that (...) explain how these models actually work and function. Using the case of translational medicine, this paper suggests that analyses which treat these models as a primarily epistemic interventions miss the way that new approaches are increasingly shaped by specific financial and commercial agendas. Ultimately, social epistemological analyses that are attentive to market forces are required to make sense of emerging bioscientific research models, which are increasingly tethered to or a manifestation of increasingly financialized models of science research and innovation. (shrink)

This paper explores what it takes for research laboratories to produce valuable knowledge in academic institutions marked by the coexistence of multiple evaluative frameworks. Drawing upon ethnographic fieldwork carried out in two UK-based epigenetics research laboratories, I examine the set of practices through which research groups intertwine knowledge production with the making of scientific, health, and wealth value. This includes building and maintaining a portfolio of valuable resources, such as expertise, scientific credibility, or data, and turning these resources into assets (...) by carefully organizing and managing their value. Laboratories then put these assets to productive use within and outside their labs toward the creation or extraction of value. I identify two models for producing value within academic science: a commodity-based model whereby laboratories mobilize their assets to produce results, which can be converted into publications for the accumulation of credibility capital, and a rentier model of accumulation whereby laboratories own valuable assets, which they rent out to others outside their lab against revenue. Following recent developments in Science and Technology Studies on value production in the bioeconomy, I argue that the concepts of asset and rent are essential analytical tools for getting to grips with the origins of value within academic science. (shrink)

AI technology is capturing the African imaginations as a gateway to progress and prosperity. There is a growing interest in AI by different actors across the continent including scientists, researchers, humanitarian and aid organizations, academic institutions, tech start-ups, and media organizations. Several African states are looking to adopt AI technology to capture economic growth and development opportunities. On the other hand, African researchers highlight the gap in regulatory frameworks and policies that govern the development of AI in the continent. They (...) argue that this could lead to AI technology exacerbating problems of inequalities and injustice in the continent. However, most of the literature on AI ethics is biased toward Euro-American perspectives and lack the understanding of how AI development is apprehended in the Global South, and particularly Africa. Drawing on the case study of the first African Master’s in Machine Intelligence program, this paper argues for looking beyond the question of ethics in AI and examining AI governance issues through the analytical lens of the raciality of computing and the political economy of technoscience to understand AI development in Africa. By doing so, this paper seeks a different theorization for AI ethics from the South that is based on lived experiences of those in the margins and avoids the framings of technological futures that simplistically pathologize or celebrate Africa. (shrink)

Assisted reproductive technology is a global market engaging a variety of local moral economies where the construction of the demand–supply relationship takes different forms through the operation of the politics of value. This paper analyzes how the market–culture relationship works in different settings, showing how power and resources determine what value will, or will not, accrue from that relationship. A commodity’s potential economic value can only be realized through the operation of the market if its cultural status is seen to (...) be legitimate. At the same time, local moral economies and their associated social orders are potentially susceptible to the destabilizing implications of new commodities. The formal or informal organization of power relationships in the market–culture interaction can enable potential value to become manifest and tangible over time or block its path. The interaction is steered through national institutional sources of cultural authority embedded in state and religion, where the visible contest in the politics of value is conducted. Increasingly, that interaction finds its expression in transnational institutions of governance where the struggle for control of the cultural agenda reflects the global nature of the ART market. (shrink)

Is Translational Science and Medicine new? Its dramatic expansion has spelled a dizzying array of new disciplines, departments, buildings, and terminology. Yet, without novel theories or concepts, Translational Science and Medicine may appear to be nothing more than an old concept with a new brand. Yet, is this view true? As is illustrated herein, histories of TSM which treat it as merely an old product under a new name misunderstand its essential architecture. As an expressly economic transformation, modern translational approaches (...) are differentiated precisely by a set of semi-permanent architectures which render it an altogether different kind of object when compared to previous attempts by institutions to turn science into medicine. Powered by new software, embedded within campuses that now house companies, and with legal agreements that outline agreed-upon scientific activity, TSM is now powered by a set of robust and durable structures that differentiate it from previous approaches. Based on ethnographic research about translational neuroscience in North America, this paper suggests that the sense of TSM as not being new is a consequence of analytic modes that tend to see scientific enterprises in epistemic terms alone. Analyzing TSM as primarily a scientific object misses the fact that it is a principally a financial one. (shrink)

The field of regenerative medicine has considerable therapeutic promise that is proving difficult to realize. As a result, governments have supported the establishment of intermediary agencies to “accelerate” innovation. This article examines in detail one such agency, the United Kingdom’s Cell and Gene Therapy Catapult. We describe CGTC’s role as an accelerator agency and its value narrative, which combines both “health and wealth.” Drawing on the notion of sociotechnical imaginaries, we unpack the tensions within this narrative and its instantiation as (...) the CGTC cell therapy infrastructure is built and engages with other agencies, some of which have different priorities and roles to play within the RM field. (shrink)

Social media commentary, satellite imagery and GPS data are a part of ‘alternative data’, that is, data that originate outside of the standard repertoire of market data but are considered useful for predicting stock prices, detecting different risk exposures and discovering new price movement indicators. With the availability of sophisticated machine-learning analytics tools, alternative data are gaining traction within the investment management and algorithmic trading industries. Drawing on interviews with people working in investment management and algorithmic trading firms utilizing alternative (...) data, as well as firms providing and sourcing such data, we emphasize social media-based sentiment analytics as one manifestation of how alternative data are deployed for stock price prediction purposes. This demonstrates both how sentiment analytics are developed and subsequently utilized by investment management firms. We argue that ‘alternative data’ are an open-ended placeholder for every data source potentially relevant for investment management purposes and harnessing these disparate data sources requires certain standardization efforts by different market participants. Besides showing how market participants understand and use alternative data, we demonstrate that alternative data often undergo processes of prospecting and assetization. We further contend that the widespread embracement of alternative data in investment management and trading encourages a financialization process at the data level which raises new governance issues. (shrink)

BackgroundBiobanks and biomedical research data repositories collect their samples and associated data from volunteer participants. Their aims are to facilitate biomedical research and improve health, and they are framed in terms of contributing to the public good. Biobank resources may be accessible to researchers with commercial motivations, for example, researchers in pharmaceutical companies who may utilise the data to develop new clinical therapeutics and pharmaceutical drugs. Studies exploring citizen perceptions of public/private interactions associated with large health data repositories/biobanks indicate that (...) there are sensitivities around public/private and/or non-profit/profit relationships and international sample and data sharing. Less work has explored how biobanks communicate their public/private partnerships to the public or to their potential research participants. MethodsWe explored how a biobank’s aims, benefits and risks, and private/public relationships have been framed in public facing recruitment documents.ResultsBiobank documents often communicate their commercial access arrangements but not the detail about what these interactions would entail, and how risks and benefits would be distributed to the public.ConclusionWe argue that this leads to a polarised discourse between public and private entities and/or activities, and fails to attend to the blurred lines between them. This results in a lack of attention to more important issues such as how risks and benefits in general are distributed to the public. We call for a nuanced approach that can contribute to the much-needed dialogue in this space. (shrink)

As health care systems have been recast as innovation assets, commercial aims are increasingly prominent within states’ health and medical research policies. Despite this, the reformulation of notions of social and of scientific value and of long-standing relations between science and the state that is occurring in research policies remains comparatively unexamined. Addressing this lacuna, this article investigates the articulation of ‘actually existing neoliberalism' in research policy by examining a major Australian research policy and funding instrument, the Medical Research Future (...) Fund. We identify the MRFF and allied initiatives as a site of state activism: reallocating resources from primary and preventive health care to commercially-oriented biomedical research; privileging commercial objectives in research and casting health as a “flow on effect”; reorganising the publicly funded production of health and medical knowledge; and arrogating for political actors a newly prominent role in research grant assessment and funding allocation. We conclude that rather than the state’s assumption of a more activist role in medical research and innovation straightforwardly serving a ‘public good’, it is a driver of neoliberalisation that erodes commitments to redistributive justice in health care and significantly reconfigures science-state relations in research policy. (shrink)

It is widely acknowledged that trust plays an important role for the acceptability of data sharing practices in research and healthcare, and for the adoption of new health technologies such as AI. Yet there is reported distrust in this domain. Although in the UK, the NHS is one of the most trusted public institutions, public trust does not appear to accompany its data sharing practices for research and innovation, specifically with the private sector, that have been introduced in recent years. (...) In this paper, we examine the question of, what is it about sharing NHS data for research and innovation with for-profit companies that challenges public trust? To address this question, we draw from political theory to provide an account of public trust that helps better understand the relationship between the public and the NHS within a democratic context, as well as, the kind of obligations and expectations that govern this relationship. Then we examine whether the way in which the NHS is managing patient data and its collaboration with the private sector fit under this trust-based relationship. We argue that the datafication of healthcare and the broader ‘health and wealth’ agenda adopted by consecutive UK governments represent a major shift in the institutional character of the NHS, which brings into question the meaning of public good the NHS is expected to provide, challenging public trust. We conclude by suggesting that to address the problem of public trust, a theoretical and empirical examination of the benefits but also the costs associated with this shift needs to take place, as well as an open conversation at public level to determine what values should be promoted by a public institution like the NHS. (shrink)

Background Biobanks are a key aspect of healthcare research; they enable access to a wide range of heterogenous samples and data, as well as saving individual researchers time and funds on the collection, storage and/or curation of such resources. However, biobanks are also associated with impacts associated with a depletion of natural resources (energy, water etc.) production of toxic chemicals during manufacturing of laboratory equipment, and effects on biodiversity. We wanted to better understand the biobanking sector in the UK as (...) a first step to assessing the environmental impacts of UK biobanking. Methods We explored the sample storage infrastructure and environmental sustainability practices at a number of UK biobanks through a mixed methods quantitative and qualitative approach, including information gathering on an online platform, and eight in-depth interviews. Results Environmental sustainability was deprioritised behind biobanks’ financial sustainability practices. Nevertheless, both often aligned in practice. However, there was a tendency towards underutilisation of stored samples, the avoidance of centralisation, and providing accessibility to biosamples, and this conflicted with valuing sustainability goals. This related to notions of individualised and competitive biobanking culture. Furthermore, the study raised how value attachments to biosamples overshadows needs for both financial and environmental sustainability concerns. Conclusions We need to move away from individualised and competitive biobanking cultures towards a realisation that the health of the publics and patients should be first and foremost. We need to ensure the use of biosamples, ahead of their storage (‘smart attachments’), align with environmental sustainability goals and participants’ donation wishes for biosample use. (shrink)