Platforms, platforms, platforms. They are impacting how we consume content in so many aspects of our life. I am personally fascinated by the rise of platforms. So much so that I have spent the past few years building my own platform for the real estate industry.
Here are some insights from a well regarded expert in the field....
Online media is being abruptly transformed by social media platforms and centralizing apps. But Andrei Hagiu, an economist, sees familiar patterns.
I don’t think it’s true that transitioning from independence to life on a platform necessarily has to make things worse. One thing that I think a lot about — in conversations with venture capitalists and others — is the notion that platforms or marketplaces inherently commoditize. I think more likely what’s happening is the following: I think platforms, or marketplaces, make it a lot easier for, say, the content providers or app developers that are very, very good to rise to the top, and pretty much commoditize everyone else. So if you’re average, it’s definitely going to be very bad. Life is going to be worse on a platform, because you’re exposed to more competition. If you’re very good, life on a platform is a lot better.
- Andrei Hagiu
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