The business model of big techs rests on enabling direct interactions among a large number of users on digital platforms, such as in e-commerce, search and social media. An essential by-product is their large stock of user data, which they use to offer a wide range of services and exploit...

We study an economy in which large technology companies, Big Techs (BTs), provide credit to firms operating on their platforms. We focus on two advantages that BTs have with respect to banks: better information on their clients and better enforcement of credit repayment since BTs can exclude a...