Hashtag capitalism: An introduction

Abstract

This article aims to introduce the phenomenon of ‘hashtag capitalism’ – that is, the ability of shareholders, employees, customers and even members of society to leverage social media in a way that influences corporate behaviour. While it is a positive development that, via social media, members of society are engaging with and influencing corporate decision-making, there are also concerns that some individuals are able to influence the financial decisions and opinions of others, and that such individuals might need to be held accountable. The article describes the different developments that have created the perfect storm to give rise to hashtag capitalism and argues that there is an urgent need for corporate law and regulation to reckon with this phenomenon, to ensure that we are able to retain the benefits while effectively addressing the risks involved.