Sangeet Paul Choudary is co-chair of the MIT Platform Strategy Summit, an Entrepreneur-in-Residence at INSEAD business school, and author of Platform Revolution and Platform Scale. In this podcast episode, Sangeet Choudary defines the concepts and drivers behind the platform business model, including the three trends that gave rise to this type of business entity. He also explains why he created the metaphor of the shift and how intelligent central platform businesses re-circulate learned data to create more efficient markets for the future.
[1:07] Sangeet Choudary contrasts the platform business model with the pipeline business model.
[5:59] Apple and Android versus Nokia and Blackberry―an example of the shift.
[10:28] Intelligent platform markets encapsulate the flow between the producers and the consumers.
[13:54] Not all platforms are benevolent, but they should be.
[17:50] Sangeet describes three trends that have given rise to this new type of economic entity.
[21:32] Platform opportunities differ by market structure, consumer division and new forms of production.
[31:17] Sangeet describes the network effect―a phenomenon where the utility of a system increases its value as it is used by more people.
[34:37] Learn more about the platform business model discussed in this podcast.