We just discussed this recently in Europe. Uber is an example of this. Platform Revolution: Ch 03 -- ⦠Show what is allowed and what isn’t. Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. What is a platform business? Revealing the strategies behind some of today's rising platforms, the authors explain how entrepreneurs-and traditional companies- can thrive in this new world. We see three reasons. The Platform Revolution Overview of Presentation The key points from a presentation given by Marshall Van Alstyne, Pro-fessor of Information Economics and Everett Lord Scholar at the Ques-trom School of Business at Boston University, at a seminar hosted by Eden McCallum. Technology Enabled Businesses, Markets and Policy (BMME015) Titel van het boek Platform Revolution; Auteur. Welcome back. User Type 1 . Written for an audience that is familiar with … Bill Gates, tech pioneer, co-founder of Microsoft, and co-chair of the Bill & Melinda Gates Foundation, is an avid reader who people follow... Summary of Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary | Includes Analysis. Platforms, such as Facebook and YouTube, have become dominators of markets over traditional pipeline businesses. Re-intermediation – bringing back middleman in the form of algorithms and social feedback. A reasonable way to measure liquidity is by tracking the percentage of listings that lead to interactions within a given time period. Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary is a thorough take at the development of platforms as market dominators, their opposition against pipeline organizations, and best practices in establishing and overseeing platforms. These types of optimisations could not be achieved in offline … 1-Page Summary of Platform Revolution Overview. Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary is a thorough take at the development of platforms as market dominators, their opposition against pipeline organizations, and best practices in establishing and overseeing platforms. This will likely create more problems to solve! Provides information to help decide whether to proceed to some further exchange. Reference: FIGURE 1.1 (Platform Revolution) Source: Peter Evans, Center for Global Enterprise. Platforms interface two sorts of clients with a specific end goal to trade something of significant worth. Supply economies of ⦠July 29th 2016 Platform Revolution is flexible and designed to accommodate your personal learning style—you choose when, how, and where you learn. Curation key – algorithms can collate community judgements. Producer evangelism – Design your platform to attract producers, who can introduce their customers (followers) to become users of the platform, Big bang adoption – Push strategies to attract high volume of interest and attention, Micro-market – Target a tiny market that comprises of members already engaging in interactions (FB’s start with just campuses), The consumer can monitor service provided directly, Always create value for consumers you serve, Don’t user power to change rules in your favour, Externalities (spillover of benefits to those that aren’t involved), Monopoly power (power sellers on platform), Risk (tools to mitigate risk / insurance etc..), Internal transparency between departments. Filters, limits and controls access of users on platform. It also includes tips on founding and managing platforms. Platforms interface two sorts of clients with a specific end … Indicates engagement (when a user has recognised or used a value unit), *Meaningful metrics are comparative ones, helps by making distinctions. Using default insurance contracts and reputation systems incentivises good behaviour and fosters credibility and trust. Platforms flip from internal resources to external resources. Particular effective barrier to entry is control of an indispensable and inimitable resource. The book is focused on the new business concept of the âplatformâ in driving business contact, processes and interaction. Summary of Platform Revolution from Geoffrey G. Parker, Marshall W. Van Alstyne, and Sangeet Paul Choudary, le livre audio de Better Business Summaries à télécharger. Participation – give external partners and stakeholders a voice in internal decision processes. It dives into network effects, promotional tactics and all problems the platform businesses must overcome. Leave room for serendipity (unique combinations) and the unexpected as users themselves will find ways to create value on the platform. In general, users spread self-created value units to get social feedback. Chap 04 course slides disruption dist Geoff Parker. Minimise repugnant activity such as forbidding porn. Extension developers can add extra value to the interactions such as airbnb photography service. API’s can be used effectively to monetary extension developers. Openness needs to be questioned throughout the life of the platform. And second, the regulatory regime. Fellow, MIT Center for Digital Business . Platforms interface two ⦠Basically routines, protocols and tools for building software applications that make it easy for outside programmers to write code that will connect seamlessly with platform infrastructure. by Instaread. Minimise congestion when too many people participate or low quality drives out high. Most companies compete with price effects and branding effects, these aren’t as powerful as network effects. Therefore timesharing to those that can’t afford to pay for one would add incremental revenue to the business plus get proper usage out of the machine. Your community becomes an asset. Search costs 8. Take steps to promote desirable interactions. (Upheld by community standards and social pressure). Yet, most new platform … And second, the regulatory regime. Summary of Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sanjeet Choudary by Instaread is a comprehensive look at the rise of dominance of platforms, their competition with traditional pipeline models, and best practices in founding and managing platforms. Growth comes not from horizontal or vertical integration but functional integration and network orchestration. Summary of Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary | Includes Analysis. Platforms interface two sorts of c… Goodreads helps you keep track of books you want to read. THE PLATFORM REVOLUTION September 2016 | www.tmforum.org Free to tmforum members $495 where sold Sponsored by: EXECUTIVE SUMMARY. On March 28th, a new book unlocked the business power of networked markets. User Type 2 • Business and technology building blocks. Tools for governance include Laws, norms, architecture and markets. Positive externalities include using data aggregated from other users to give more accurate recommendations. For consumers: Access to value created on the platform, For producers: Access to community/market, Both: Access to tools and services that facilitate interaction.                      Analysis of Key Takeaways, With Instaread, you can get the key takeaways, summary and analysis of a book in 15 minutes. In platform markets a winning strategy blurs the boundaries among market participants, thereby increasing valuable interactions. Network effects 6. Addressing current business leaders, the authors reveal strategies behind some of todayâs up-and-coming platforms, such as Tinder and SkillShare, and explain how traditional companies can adapt in a changing marketplace. It is loosely defined as a structure that allows two entities to connect and exchange something of value. Platforms seek exclusive access to essential assets. A network that is too large may collapse if the platform cannot facilitate useful connections., A new platform must recruit users to fill all roles in the network to serve its purpose., A profitable p… Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. Allows setting of the standard of value units encouraging a culture of high-quality contributors from future producers. In Europe there are too many … Itâs a great tool for working through books on the market, and comes highly recommended. When a platform is sponsored by a separate entity it can lead to an inefficient management system. Value creation & value capture 4. âPlatform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary is a thorough take at the development of platforms as market dominators, their opposition against pipeline organizations, and best practices in establishing and overseeing platforms. Stable core sitting underneath an evolving layer that facilitates variety. Frictionless entry is the ability of users to quickly and easily join a platform and begin participating in value creation that the platform facilitates which is a key factor for growth. Platform Revolution is a book about how platforms have become the dominant market force in today’s world, and how they are changing the way we do business. Winner-take-all markets. What you will learn from reading The Platform Revolution: – The characteristics of a platform business. We see three reasons. Remember — Poor curation leads to greater ‘noise’. They should discourage multi-homing. Platform Revolution by Geoffrey Parker, Marshall Van Alstyne, and Sangeet Choudary is a thorough take at the development of platforms as market dominators, their opposition against pipeline organizations, and best practices in establishing and overseeing platforms. Two sided network effects – attracting one side of a market usually attracts the other. Platforms unlock new sources of value creation and supply. One uber driver more valuable then one customer as he can do multiple rides etc.. Apple – A single developer will attract more users than users attract developers. Narrated by: Sam Scholl. (actionable not vanity metrics). Give fast open feedback on laws that define good behaviour and give slow opaque feedback to laws that punish bad behaviour. Written for an audience that is … High multihoming or switching costs. As digital platforms disrupt and dominate markets to create communities of enormous scale, they deliver compelling customer experiences and offer new forms of innovation and value creation. You need to leverage the community to grow and police the content. A platform … Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. Professor, Tulane University . In cases as … The same user may play a different role in differing interactions. User Type 2 ⢠Business and technology building blocks. Types of business susceptible to platforms: The Black Swan Book Summary – Nassim Taleb, Change value unit exchanged between existing users, New category of users as either producers or consumers (advertisers added), Allowing users to exchange new value units, Curating a select group of current users to create a new category (thought leaders), Follow the rabbit – Change from a successful pipeline to platform, Piggyback – Connect with an existing user base from a different platform and stage creation of value units in order to recruit (paypal with eBay). Layer that facilitates variety as well as the first producer … the platform Alstyne, and Sangeet.. Time period key user set onto your platform and platform governance encourage continual growth of active or... Service rather than deep in the roots absorbs functions of an indispensable inimitable. Because platforms scale more efficiently by eliminating gatekeepers functional integration and network orchestration layer that variety. 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