Platform Revolution: How Networked Markets Are Transforming the Economyand How to Make Them Work for You

Platform Revolution: How Networked Markets Are Transforming the Economyand How to Make Them Work for You

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Overview

Platform Revolution: How Networked Markets Are Transforming the Economyand How to Make Them Work for You by Geoffrey G. Parker, Marshall W. Van Alstyne, Sangeet Paul Choudary

A practical guide to the new economy that is transforming the way we live, work, and play.Uber. Airbnb. Amazon. Apple. PayPal. All of these companies disrupted their markets when they launched. Today they are industry leaders. What’s the secret to their success? These cutting-edge businesses are built on platforms: two-sided markets that are revolutionizing the way we do business. Written by three of the most sought-after experts on platform businesses, Platform Revolution is the first authoritative, fact-based book on platform models. Whether platforms are connecting sellers and buyers, hosts and visitors, or drivers with people who need a ride, Geoffrey G. Parker, Marshall W. Van Alstyne, and Sangeet Paul Choudary reveal the what, how, and why of this revolution and provide the first “owner’s manual” for creating a successful platform business.Platform Revolution teaches newcomers how to start and run a successful platform business, explaining ways to identify prime markets and monetize networks. Addressing current business leaders, the authors reveal strategies behind some of today’s up-and-coming platforms, such as Tinder and SkillShare, and explain how traditional companies can adapt in a changing marketplace. The authors also cover essential issues concerning security, regulation, and consumer trust, while examining markets that may be ripe for a platform revolution, including healthcare, education, and energy.As digital networks increase in ubiquity, businesses that do a better job of harnessing the power of the platform will win. An indispensable guide, Platform Revolution charts out the brilliant future of platforms and reveals how they will irrevocably alter the lives and careers of millions.

Product Details

ISBN-13: 9780393354355
Publisher: Norton, W. W. & Company, Inc.
Publication date: 08/29/2017
Edition description: Reprint
Pages: 352
Sales rank: 127,382
Product dimensions: 5.50(w) x 8.20(h) x 0.90(d)

About the Author

Geoffrey Parker is a professor of engineering at Dartmouth College and a visiting scholar and research fellow at the MIT Initiative for the Digital Economy. Before joining academia, he held positions in engineering and finance at General Electric. He has made significant contributions to the economics of network effects as co-developer of the theory of two-sided networks. Parker's work has been supported by the Department of Energy, the National Science Foundation, and numerous corporations. Parker advises senior leaders in government and business and is a frequent speaker at conferences and industry events. He received his BS from Princeton and his MS and PhD from MIT.

Marshall W. Van Alstyne is a professor at Boston University and a visiting scholar and research fellow at the MIT Initiative on the Digital Economy. Van Alstyne is a world expert on information economics and has made fundamental contributions to IT productivity and to theories of network effects. His coauthored work on two-sided networks is taught in business schools worldwide. In addition, he holds patents in information privacy protection and on spam prevention methods. Van Alstyne has been honored with six best paper awards and National Science Foundation IOC, SGER, iCORPS, SBIR and Career Awards. He is an adviser to leading executives, a frequent keynote speaker, a former entrepreneur, and a consultant to startups and to Global 100 companies. He received his BA from Yale and his MS and PhD from MIT.

Sangeet Paul Choudary is a C-level advisor to executives globally on platform business models. He is an Entrepeneur-in-Residence at the INSEAD Business School and a Fellow at the Centre for Global Enterprise. He has been ranked among the top 30 emerging business thinkers globally by Thinkers 50. Sangeet writes the popular blog Platformed (platformed.info), and his work has been featured on leading journals and media, including the Harvard Business Review, MIT Technology Review, Sloan Management Review, the Wall Street Journal and The Economist. He is a frequent keynote speaker at leading conferences, including the G20 World Summit 2014 and the World Economic Forum events.

Table of Contents

Preface ix

1 Today: Welcome to the Platform Revolution 1

2 Network Effects: The Power of the Platform 16

3 Architecture: Principles for Designing a Successful Platform 35

4 Disruption: How Platforms Conquer and Transform Traditional Industries 60

5 Launch: Chicken or Egg? Eight Ways to Launch a Successful Platform 79

6 Monetization: Capturing the Value Created by Network Effects 106

7 Openness: Defining What Platform Users and Partners Can and Cannot Do 129

8 Governance: Policies to Increase Value and Enhance Growth 157

9 Metrics: How Platform Managers Can Measure What Really Matters 183

10 Strategy: How Platforms Change Competition 204

11 Policy: How Platforms Should (and Should Not) Be Regulated 229

12 Tomorrow: The Future of the Platform Revolution 261

Acknowledgments 291

Glossary 295

Notes 301

Index 325

About the Authors 336

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