platform has and the effectiveness with which it is used by algorithms can ensure effective filtering and greatly aid interaction. He is the co-chair of the MIT Platform Strategy Summit and an industry advisor to the Global Platform Data Project at Stanford University. "We are not in the business of building software. Platforms are so powerful because they enable efficient interactions, create excess value and are able to scale rapidly, The ecosystem is also the new supply chain, The network effect is the new driver for scale, Platform scale is achieved by maximizing the repeatability and efficiency of the platform’s core interaction. To calculate the overall star rating and percentage breakdown by star, we don’t use a simple average. Instead, they build a platform on which others can create and exchange value. As Choudary says, "the platformed world is here to stay". Author: Platform Revolution, Platform Scale | Featured twice in HBR Top 10 Must Reads | Advisor to Fortune 500 Boards/C-Suite | WEF YGL. Since 2012, Sangeet has led executive education and strategy worshops at enterprises around the world, including 35 of the Fortune 500. PLATFORM THINKING Design Principles for Platform Business Models http://platformed.info Sangeet Paul Choudary The platform canvas presents, in a visual way, the most important activity of the platform: the core interaction (Choudary, 2015; Parker et al., 2016). A new business model for launching high-growth startups, Reviewed in the United Kingdom on October 10, 2015. Platform Scale is a maker's guide for entrepreneurs, innovators and educators looking to understand and implement the inner workings of highly scalable platform business models. Platform Scale is and will prove a lasting classic. Six core concepts for successful platform business model design 1. Great read for anyone building a platform. He has led executive education and strategy workshops for business leaders and policymakers across the world and runs an online learning programme, Platform Playbook , for enterprises and startups. Platform Scale lays out a structured approach to designing and growing a platform business model and addresses the key factors leading to the success and failure of these businesses. Choudary explains how technology, democratization of connectivity and rise of data-driven decision making systems are enabling a new type of business model – platforms. Here are a few of the questions we explore: The context of platform business model. Designed Santander's global leadership transformation program, based on my books Platform Revolution and Platform Scale, for the top 1000 leaders of the organization. 4. Upgrade to Premium now and get unlimited access to the Blinkist library. Reviewed in the United Kingdom on August 16, 2016. This is an invaluable handbook for anyone involved in building a digital business, especially in consumer tech. Sangeet Paul Choudary. Platform Thinking Labs; First Edition (September 15, 2015), In-depth coverage with case studies and strategy patterns for designing platform businesses that scale, Reviewed in the United States on February 22, 2016. Book printing is poor. Author: Platform Revolution, Platform Scale | Featured twice in HBR Top 10 Must Reads | Advisor to Fortune 500 Boards/C-Suite | WEF YGL. Reviewed in the United States on February 24, 2016. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. The book provides codified, actionable steps to design and implement platform-based businesses. TWEET CREATORS TWEET READERS Tweets. Sangeet Paul Choudary. This was a fascinating insight for me, because as I watch the magnitude of scale that the likes of Uber and Airbnb are achieving, I had always put technology on the forefront. However, platforms are unique in that they don’t control this inventory as this is produced outside the platform, All actions in the core interaction fall into one of the following buckets – creation, curation, customization, consumption. Sangeet and his team have done a fabulous job of making sense of the big, complex world of platform business. A book to keep on referring back to. Platform Scale contains an up-to-date and insightful look at platform patterns and clear strategies for how growth and scale are achieved. Re-imagine your business for platform scale The mechanism by which these new business models scale so rapidly. Not only does the author clearly articulate his thoughts about the disruptive platform business model but he goes places with his theories and methodologies where all other technology pundits fall short. Six core concepts for successful platform business model design 1. DEVELOPERS USERS Apps. Upgrade to Premium. 5. The big misconception of platforms Laying out the overall architecture of the platform helps us understand the key points of failure for the ensuing platform business and shows us what needs to be tested. Welcome to Platforms, AI, and the Economics of BigTech by me, Sangeet Paul Choudary. Platform Scale lays out a structured approach to designing and growing a platform business model and addresses the key factors leading to the success and failure of these businesses. Sangeet Choudary is the Founder and CEO of Platform Thinking Labs, best known for his work on platform business models and multi-sided network effects. Today's massively scaling startups - which rapidly grow to millions of users and billions in valuation - do not sell a product or service. The platform must provide tools and services of creation, curation, customization and consumption. Platform Scale by Sangeet Paul Choudary. For the purposes of this study, we focus on four core elements. It has a great mix of examples of billion dollar startups, as well as practical advice on how to implement the strategies in your own ventures. The recipient, if interested, then joins and becomes a sender and starts the process over. The program is currently being scaled to more than 100,000 employees across the organization. Reviewed in the United Kingdom on January 10, 2019. Recipient incentives – why will a non-user on an external network convert to a user on the platform? Platform Scale contains an up-to-date and insightful look at platform patterns and clear strategies for how growth and scale are achieved. 14 min read. Platform Scale lays out a structured approach to designing and growing a platform business model and addresses the key factors leading to the success and failure of these businesses. Six core concepts for successful platform business model design 1. Platform Scale lays out a structured approach to designing and growing a platform business model and addresses the key factors leading to the success and failure of these businesses. These 3 can play varyingly large or small roles depending on what the platform wants to achieve, how to differentiate itself and what the key drivers of value are, The single most important decision in testing is the choice of the hypothesis to be tested. Crying because you know your competitors may also read it. Reviewed in the United Kingdom on April 9, 2016. 3. Something we hope you'll especially enjoy: FBA items qualify for FREE Shipping and Amazon Prime. Instead, they build a platform on which others can create and exchange value. If you're a seller, Fulfillment by Amazon can help you grow your business. Finally, only by focusing on the core interaction can a platform know what data it needs to capture, The core value unit is the minimum stand alone unit of value that is created on top of the platform. I enjoyed reading each chapter and connecting the dots in my head how mega platform companies like Facebook, Uber, Airbnb etc grow over time.