Marshall Van Alstyne is a Professor at Boston University and a Digital Fellow at MIT. He co-authored Platform Revolution: How Networked Markets Are Transforming The Economy And How To Make Them Work For You, and is a father of the theory of two-sided markets. Marshall joins Tim today to discuss how cutting-edge businesses are built on platforms: two-sided markets that are revolutionizing the way we do business. Tune in as they dig deep into the brilliant future of platforms, revealing how they will irrevocably alter the lives and careers of millions.
Key Takeaways:
[1:06] Marshall Van Alstyne explains how the rules that managers use to navigate the competitive landscape are changing from a Porter, 5 Forces way of thinking about the world to a Peter Drucker way of thinking about the world.
[1:26] In a platform business, the mindset shifts from managing a product to managing a community.
[10:21] How to create a market, value and wealth from an area in which there are spare capacity and resources.
[13:19] What is the macroeconomic impact of platform driven markets?
[18:48] The launch problem is made easier by borrowing existing users from another platform, or by seeding the market.
[22:48] It’s easier to add a technology to a community than it is to add a community to a technology.
[26:37] Thoughts on how business schools are teaching management practices today, and how it should be taught in the future.
[32:05] Tips to use as guidelines for managers who want to leverage their external resources.
[37:28] Contact information for Marshall Van Alstyne.
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