Chapter 2 reviews and extends scholarship to theorise a new taxonomy and ecosystem for youth employment in digitally mediated labour markets. It begins by orienting the reader to the chapter’s aims and scope, then introduces two lenses on the employment ecosystem: platform capitalism, which emphasises the intermediation of work by platform firms, and regulatory capitalism, which highlights how rules, standards, and enforcement shape opportunities and risks. Building on this, the ensuing discussion presents Kajita’s taxonomy of educational objectives and clarifies its theoretical underpinnings before introducing Nonaka’s knowledge management theory. The chapter synthesises Kajita’s and Nonaka’s models into a holistic framework for capability formation, applies this theoretical synthesis to platform-mediated capitalism, and highlights its implications for analysing youth employment pathways, governance gaps, and skill development across formal and informal work settings.