Proliferating discussion of populism—in both right and left variants—often relates its rise to digital networks and platforms. We think this connection holds, but in manifold ways. The digitization of capital’s circulatory paths has played an important role in the deindustrialization, financialization, and changes in class composition underlying the explosion of populisms. Social media and mobile networks have then famously given populisms a voice, largely outside of the circuits of legacy media, as “digital parties” (Gerbuado 2016). And populist parties in sight of power then propose policy changes to the governance of digital capitalism, be it in in the direction of regulation or deregulation. Paradoxically, populist parties adept in the use of social media also often ride diverse and contradictory waves of “techlash” voicing suspicions of Big Tech. In all these respects, the combination of platforms and populisms is integral to a “crisis of hegemony” (Fraser 2017) destabilizing the political landscape of twenty-first century capitalism.