Talking about Platforms
Platform Strategy and Business Models with Andrei Hagiu
Jan 15, 2025
Join Andrei Hagiu, an Associate Professor at Boston University and advisor on platform business models, as he unpacks the intricate dynamics of platform strategies. He discusses the concept of platform traps, where major platforms dominate sellers, and the potential for collective action to challenge this. The conversation also highlights how blockchain technology can disrupt traditional power structures and lower transaction costs. Lastly, Hagiu examines what drives success in B2B marketplaces, revealing valuable insights for startups.
45:43
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Quick takeaways
- Andrei Hagiu highlights that platform traps can create dependency for sellers on dominant platforms, leading to unfavorable conditions despite their apparent benefits.
- The discussion reveals that collective action among sellers may counterbalance platform power, illustrating a growing awareness of their rights and opportunities for solidarity.
Deep dives
Understanding Platform Businesses
Platform businesses are defined as entities that facilitate interactions between users, encompassing various formats such as marketplaces and social networks. The simplicity of this definition highlights the core function of platforms in connecting buyers and sellers or facilitating communication among users. The shift from traditional business models to platform-based approaches signifies a broader trend in modern commerce, reflecting how engagement dynamics have changed. This evolution has compelled individuals in the academic realm, like the guest in the discussion, to explore these interactions further, leading to significant insights into platform operations and strategies.
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