University of Minnesota Law School Scholarship Repository Minnesota Law Review 2016 The Law of the Platform Orly Lobel Follow this and additional works at: https://scholarship.law.umn.edu/mlr Part of the Law Commons Recommended Citation Lobel, Orly, "The Law of the Platform" (2016). Minnesota Law Review. 137. https://scholarship.law.umn.edu/mlr/137 This Article is brought to you for free and open access by the University of Minnesota Law School. It has been accepted for inclusion in Minnesota Law Review collection by an authorized administrator of the Scholarship Repository. For more information, please contact
[email protected]. Article The Law of the Platform Orly Lobel† Introduction ............................................................................... 88 I. Ceci N’est Pas Un Taxi: Disruption & Definitional Defiance ................................................................................ 94 A. Web 3.0: The Platform Revolution ........................... 94 B. The Everything Platform: Challenging Labels as a Form of Innovation .............................................. 101 C. The Platform Economy: Romantic Utopia or Nightmare Dystopia? .............................................. 104 II. Principles of the Platform .................................................. 106 A. Transaction Costs Revolution ................................ 106 1. Economies of Scale ............................................ 107 2. No More Waste .................................................. 108 3. Tailoring the Transactional Unit