Digitalization is changing economic and societal structures in a radical manner. Can these changes contribute to a social-ecological transformation? The authors of this article show that, up until now, this is barely the case. Regarding the environment, rebound effects and economic growth more than compensate increases in efficiency. From a social perspective, increasing inequalities and precarious jobs prevail over positive effects. Additionally, digitalization goes hand in hand with a concentration of economic and political power. Digitalization can only help towards a social-ecological transformation, if other actors enter the stage to shape the digital future.