Guest: Geoffrey (Geoff) G. Parker

Bio: Geoff Parker is a professor of engineering at the Thayer School at Dartmouth College and the faculty director at the Irving Institute for Energy and Society. He was awarded the Thinkers50 digital thinking award for his work on two-sided markets and the inverted firm. He is the co-author of the influential book Platform Revolution. He received his doctorate from MIT, where he was a doctoral student alongside Marshall Van Alstyne.

Summary: In this episode, Geoff, a leading expert in platform research and co-author of Platform Revolution, discusses the origins of his work on platforms, the evolution of platform business models, and the ongoing relevance of platform thinking in today's dynamic technological and regulatory landscape. The conversation traces the journey from early observations of free online services and the formalization of two-sided markets to the strategic implications of platforms and their impact across various industries, including B2B and energy. Geoff reflects on the initial skepticism surrounding platform theory, the significant effect of Platform Revolution, and his current work exploring platform dynamics in specific sectors. The discussion also touches upon the challenges faced by established firms in transitioning to platform models and the influence of emerging technologies and regulations on the platform ecosystem.

Key Discussion Points

The genesis of platform research: Stemming from observations of ad-sponsored networks and the emergence of free online services during the dot-com boom, leading to the formal study of two-sided markets and network effects.
Early challenges in platform theory: The initial uphill battle to get foundational work on platforms published.
The evolution of platform thinking: How the understanding of platforms has been shaped by events like the dot-com bust and the rise of tech giants.
Strategic implications: The development of concepts like platform envelopment and the broader strategic considerations for businesses adopting platform models.
The impact of regulation and new technologies: The influence of regulations like GDPR and CCPA, the increasing power of platforms, and the emergence of AI and blockchain on platform strategies.
Challenges and opportunities in B2B platforms: The complexities of network effects, sales cycles, core transactions, and integration challenges in B2B contexts.

Publications & Projects Mentioned

Parker, G. G., Van Alstyne, M. W., & Choudary, S. P., (2016). Platform revolution: How networked markets are transforming the economy—and how to make them work for you. W. W. Norton & Company.
Shapiro, C., & Varian, H. R. (1999). Information rules: A strategic guide to the network economy. Harvard Business Press.
Anderson, E. G., Lopez, J., & Parker, G. G. (2022). Leveraging value creation to drive the growth of B2B platforms. Production and Operations Management, 31(8), 1–22.
Parker, G. G., & Van Alstyne, M. W. (2005). Two-sided markets. Harvard Business Review, 83(10), 1–12.
Eisenmann, T., Parker, G. G., Van Alstyne, M. W., & (2011). Platform envelopment. Strategic Management Journal, 32(12), 1270–1285.
Cabral, L., Haucap, J., Parker, G. G., Petropoulos, G., Valletti, T. Alstyne, M. (2021). The EU Digital Markets Act: A Report from a Panel of Economic Experts, European Union Joint Research Centre, Publications Office of the European Union.

Links

Geoff's website at Dartmouth: https://engineering.dartmouth.edu/community/faculty/geoffrey-parker

Hillsdale Dialogues 11-29-13, American Presidency