As Founder of Platformation Labs, and author of two bestselling books Platform Revolution and Platform Scale, Sangeet Paul Choudary is best known for his work on platform economics and network effects. When consumers ‘plug’ into a platform, the platform serves them what is more relevant for them. 6. platform has and the effectiveness with which it is used by algorithms can ensure effective filtering and greatly aid interaction. Sangeet Paul Choudary Author: Platform Revolution, Platform Scale | Featured twice in HBR Top 10 Must Reads | Advisor to Fortune 500 Boards/C-Suite | WEF YGL New Top 5. Instead, our system considers things like how recent a review is and if the reviewer bought the item on Amazon. GET THE FULL PLATFORM PACKAGE NOW! He frequently advises the leadership of Fortune 500 firms and has been selected as a Young Global Leader by the World Economic Forum. From resource control to resource orchestration. Written by three of the most sought-after experts on platform businesses, Platform Revolution is the first authoritative, fact-based book on platform models. Sangeet Paul Choudary, Founder and CEO of Platformation Labs and author of Platform Scale and Platform Revolution explains to Chitra Narayanan the … Six core concepts for successful platform business model design 1. The models Choudary uses are presented in illustrations at the end of each chapter and build on each other to form a complete picture of platform dynamics. Re-imagine your business for platform scale The mechanism by which these new business models scale so rapidly. Author: Platform Revolution, Platform Scale | Featured twice in HBR Top 10 Must Reads | Advisor to Fortune 500 Boards/C-Suite | WEF YGL. Platform Scale contains an up-to-date and insightful look at platform patterns and clear strategies for how growth and scale are achieved. Great book having initially read David S Evans Platform Economics this book has been a great extension of the techniques to get a platform market place of the ground. He has written for several leading publications such as TechCrunch, Forbes, Wall Street Journal and Wired. Recipient incentives – why will a non-user on an external network convert to a user on the platform? After viewing product detail pages, look here to find an easy way to navigate back to pages you are interested in. But disruptive challengers are increasingly moving away from selling commodities to monetising data. "The solution to the chicken-and-egg problem requires a bait that can break the vicious cycle of no activity." There's a problem loading this menu right now. Please try again. It's the kind of book you finish reading, and start crying! Learn more about the program. Virality is a design problem, not an optimization problem. 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. Take into account: Sender incentives, low friction in creating core value units, high percentage of producers, spreadable core value units (triggers an interaction on an external network), plays on the producer-as-sender dynamic, the spread of the unit helps to complete an incomplete interaction), External network – choice of network which takes into account relevant interactions, relevant connections, relevant look and feel, add value to users on this external network, create an unfair advantage and make integration as easy as possible, Recipient incentives – unit should serve as a compelling pitch to the platform and a call to action embedded within the unit, 4 key optimization priorities for achieving sustainable viral growth, Send: maximize outflow of units from the platform, Spread: ensure that units spread on the external network, Click: maximize clicks on an external network, Producers never spread the word about the platform, they merely spread the word about their creations, Platforms that succeed with viral growth reward users with accelerating social feedback, Network effects can work against platforms if higher adoption gets in the way of interaction efficiency and repeatability, reducing interaction quality. I am an advocate for the Business Model Generation book by Osterwalder and Pigneur. The recipient, if interested, then joins and becomes a sender and starts the process over. Six core concepts for successful platform business model design 1. The keys to platform scale lie in simplifying each constituent action in the core interaction, Information exchange has 3 components – The producer creates a core value unit, the consumer sets up a filter of some combination of overlap and data, the value unit that best passes through the filter is served to the consumer (based on good data and filters). Platform Scale by Sangeet Paul Choudary. … PAY FOR ATTENTION PLATFORM PRODUCER CONSUMER 3 Ads Jobs MONETIZERS. All design decisions should ensure the repeatability and sustainability of the core interaction that the platform enables. Value is derived from charging one side to access the other, charging a third party for advertising, charging producers and consumers for premium tools and services, charging consumers for access to high quality, curated producers and charging producers for an ability to signal high quality, The TRIE Framework – tools and rules, interaction, experience, Platforms allow the users to shape their own experience and not just accept the maker’s ideas, Platforms must allow for emergent behavior to arise, some of which may redefine the architecture and lead the platform in entirely new directions, Everything old is new again! Crying because you know your competitors may also read it. Platform Scale Sangeet Paul Choudary Pdf Platform Scale Book Sangeet Ratnakar Pdf Chapter 14 Sher Muhammad Choudary Part 2 Scale System For Reluctant Scale Enthusiasts For Violin Normal Scale Ordinal Scale Mpc 006 Egyankosh A History Of Modern Yemen - Paul Dresch,emertius Research Fellow Paul Dresch,dresch Paul Summary 1. Thirdly, successful platforms scale by layering new interactions on top of the core interactions. As a tech entrepreneur, I highly encourage anyone who has not built a platform before to read this book and make sure that everyone on your team does as well. "The design of the platform business model involves the design of a core interaction followed by the design of an open infrastructure that will enable and govern this interaction." Technology should be built only after understanding the interaction that needs to be enabled. For the purposes of this study, we focus on four core elements. Filter can be point in time (search) or cumulative (taking account of past history or behavior) or some combination, Choice of the overall interaction space – connection, content, clout, coordination, competition, culture and code, Production incentives – tools/access/both, simplify production process, great curation, clear, democratic and equal access path to the top, great conversion rates, good feedback mechanisms, removal of skill, time/effort/investment, resource, access barriers (removal of frictions), Frictions can sometimes be useful when trying to discourage the repeatability of undesirable interactions and can indicate quality, superior signaling or a barrier of some sort, Building long-term cumulative value – reputation, influence, collections, learning filters, 7 Cs of Trust – confirmed identity, centralized moderation, community feedback, codified behavior, culture, completeness, cover, Ownable interactions – more difficult for platforms offering nonstandardized services (TaskRabbit) but in order to own the interaction, all platforms must create more value than they capture, All platforms must overcome the chicken and egg problem until they reach critical mass, the minimum network size at which there are enough producers and consumers of value on the platform to ensure that interactions spark off reliably. Platform Scale contains an up-to-date and insightful look at platform patterns and clear strategies for how growth and scale are achieved. Every page drips deep insight. Therefore I would have given Platform Scale five stars if frameworks were provided for Section 3 Building Interaction-First Platforms and Section 4 Solving Chicken-and-Egg Problems (instead I will have to summarise myself). I enjoyed reading each chapter and connecting the dots in my head how mega platform companies like Facebook, Uber, Airbnb etc grow over time. Six core concepts for successful platform business model design 1. He is also the author of Platform Scale, an Amazon #1 best-seller for 6 consecutive months after launch and a contributing author to the book Managing Startups. All these three functions are essential to a successful platform and feed each other. He is the co-chair of the MIT Platform Strategy Summit and an industry advisor to the Global Platform Data Project at Stanford University. Reviewed in the United States on December 9, 2015. 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 Six core concepts for successful platform business model design 1. The move from pipeline to platform involves three key shifts: 1. The lack of an index is also very frustrating. the Platform Canvas and Platform Stack. The book content (15 minutes read) What’s in it for me? Platform Scale contains an up-to-date and insightful look at platform patterns and clear strategies for how growth and scale are achieved. 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