Platform business design with Ted Ladd
Why do we need platform business design? Today's rise of digital platforms is reshaping our economy leaving traditional business models far behind. Google, Airbnb, Facebook, Uber, and Amazon are only a few prominent examples of an unstoppable row of businesses leveraging platform dynamics.
A multi-sided platform acts as a digital marketplace, where producers and consumers come together, and value is created for both parties through their interaction. Platforms create and manage external communities rather than produce and ship products or services on their own. Thus, they can leverage network effects and are able to grow at a pace that easily exceeds this of even the best-funded traditional businesses.