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Platform Revolution chapter 3&4, G2 (IPCM3_Andrea, DICE2_Jeff, IBS(M1)…

- - - - Users' willingness to share data and their responses to customized recommendations vary widely.
        
        Design incentives to encourage users to provide personal data.
        
        Use the concept of contests to collect user details.
- - - - expand platform's reach, speed, convenience, and efficiency
- - - - online pipelines begefited from low marginal costs of distrubution
        
        target and serve large markets with smaller investment
      - somtimes the cost is as low as zero
  - - - the Internet no longer acts merely as a distribution channel
        
        creation infrastructur
        &
        coodination mechanism
      - Physical and digital are rapidly converging
        
        Internet connect and coordinate objects in the real world
      - Advantage
        
        superior marginal economics of production and distribution
- - - - participants
        
        supplier
        
        consumer
        
        same user can play different role
      - value unit
        
        exchange information/ goods or services/ currency
        
        created by producer
        
        provided user basis for deciding if they want proceed to further exchange
        
        platform itself does not create value
        
        no direct control over production
        
        information factories
      - filter
        
        algorithmic software tool
        
        enable appropriate value units exchange
        
        manaage relevant & valuable value
  - - - attracting consumers
        
        :warning:
        
        no value unless users use it
        
        users won't use it unless it has value
        
        :!: keep the interests of user who visit
        
        feedback loop
        
        single-user feedback loop
        
        analyze user's interests
        
        increase value creation
        enhance network effect
        
        recommend new value units
        
        multi-user feedback loop
        
        return feedback to producer (encouraging)
    - - creating infrastructure where value can be created
        
        reduce barriers to usage
        
        encourage interactions
        
        expand participants
        
        increase barriers
        
        develop intrusive rules torestrict producers
        
        increase quality
    - - find the right users
        
        collect and analyze data by algorithms
        
        create accurate filters
        
        acquired data from third party providers
- - - - Enabling new forms of consumer behavior
    - - De-linking assets from value
        
        From business-to-consumer (B2C)
        To business-to-business (B2B)
        
        de-link ownership of the physical asset from the value it creates
      - Re-intermediation
        
        The elimination of middlemen, or intermediate
        layers, from industries, establishing direct connections between producers and consumers
        
        Involves replacing non-scalable
        and inefficient agent intermediaries with online
        
        Rely on algorithms and social feedback
        
        Create a new layer of reputational information by
        leveraging social feedback about producers
      - Market aggregation
        
        The process whereby platforms provide centralized markets to serve
        widely dispersed individuals and organizations
  - - - The Incumbents Fight Back
        
        Reevaluate their existing business models :star:
        
        .
        
        Horizontal Integration
        
        grow by creating new products and brands to push more value through pipeline
        
        Vertical Integration
        
        Buying
        upstream suppliers or downstream distributors
- - - - :check:
        
        gather better data on their users and improve
        their matching algorithms over time
        
        the curation mechanism doesn’t break down
        
        manual curation is gradually phased out in
        favor of automated curation mechanisms based on socially driven feedback loops