Most of us have been using and engaging with these companies like Alibaba, Amazon, Apple, Facebook, Google, Netflix, Tencent, and Ctrip. What do they have in common? They are not only the world’s highest valuated businesses but also the world’s most influential platforms. The next generation of Fortune500 companies in the decade of 2020 will be mostly platform-based businesses such as Airbnb, Grab, Robinhood, Spotify, and more.
What is platform? More importantly, what kind of magic do they have to make them so powerful? Platforms, a near-monopolistic business model, are quietly taking over the global economy. These platforms make much of their money not by what they sell but by facilitating the interactions or transactions of others. Traditional product, manufacturers, brands, and intermediaries (or “the middleman”) incumbents in all major industries are being seriously disrupted by these platforms.
I am going to explore why every one of the businesses has to have the right platform strategy in order to able to compete and even survive in the DigitalEconomy, and how we can formulate a suitable and feasible platform strategy for our businesses even we are a product company now. Stay tuned on April 29.