The Business of Platforms: Strategy in the Age of Digital Competition, Innovation, and Power

This lecture summarizes some key findings from a new book by Michael Cusumano, Annabelle Gawer, and David Yoffie. We will examine myths and realities associated with digital platforms - businesses that connect two or more market sides, and have supply or demand sides driven by network effects. Platform companies are now the most valuable companies in the world and the first trillion-dollar businesses. The talk will focus on how digital platforms differ from conventional product or service businesses, and why some markets produce spectacular winner-take-all-or-most outcomes while others result in spectacular financial losses. We will discuss why “platformizing” a bad business does not make it a good business, and how platforms have become “double-edged swords.” That is, platforms have an equal ability to organize economic activity efficiently as well as to abuse increasingly powerful market positions or be subject to misuse by platform participants.
About the Series
Sponsored by the System Design & Management (SDM)
program at the Massachusetts Institute of Technology (MIT), the MIT SDM Systems Thinking Webinar Series features research conducted by SDM faculty, alumni, students, and industry partners. The series is designed to disseminate information on how to employ
systems thinking to address engineering, management, and socio-political components of complex challenges.

[@chrisutopian8472]

Thrilled to watch this video of Professor Micheal Cusumano, my teacher in Strategic Management class at MIT Sloan 1998-1999. Thank you so much and all the best to you!

[@JoyAjuluchukwu]

This was very clearly communicated. A lot to think about for those working or looking to work in the digital business space.

[@thomasedwardking7286]

This guy is such a book of knowledge to listen to on this subject. I'll never be able to return to the cave after this webinar.

[@diptigarg794]

This was really insightful! The word 'Platform' is used so loosely these days by companies as it gets the same audience attention as the word 'AI'. Hence, it was great to hear the distinction between product, services, and platforms.

[@user-hs7sh3bx1g]

nice work

[@TofunmiAwodein]

He was spot on with wework

[@travelhotelsandfood4207]

Thanks for the great insights

[@xuefengchu650]

could you help me to find the link ?

[@ritcheymt]

Airbnb example is at 25:32 and goes to 26:25.

[@platoscavealum902]

👍ℹ️