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Research on platform labor takes ownership as the primary axis of differentiation, presenting worker-owned platforms as an emancipatory alternative to investor-owned platforms. Yet platform worker co-ops have not been widely successful, particularly in fragile contexts. Using the case of refugees, I theorize how refugees face unique, extensive, and pronounced challenges related to capital, collective decision-making, institutional support, and global competition. These challenges surface mobilization and legitimacy issues. I argue that refugees are embedded in ecosystems of fragility, in which worker marginality is produced and sustained through institutional mechanisms at the national and global levels, preempting cooperative ownership. The ecosystems of fragility perspective explains why and how platform worker co- ops are infeasible among populations that are systemically marginalized in labor markets. I suggest that taking accountability and ownership as complementary axes of change—in which platforms with different ownership models implement accountability mechanisms—opens up the conversation to alternative models of platform work.