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[PR] Chapter 3&4, G3 (BAITIA1 Aileen, IPCM4 Tiffany, IBS4 Kai, IBSm1…

- - - - Filter
        
        A set of algorithms that ensures users exchange appropriate value units.
        
        Design strengths and weaknesses influence
        
        Ensures they only receive information that is useful and meaningful to them.
      - Users
        
        Producers who create value
        
        Consumers who consume value
        
        Interchangeable
      - Unit of Value
        
        Exchanging information, goods, or services that are valuable to users.
        
        YouTube, Twitter：Videos, Tweets
  - - - May trade valuable goods or services
        
        Internal
        
        Digital products
        
        External
        
        Uber’s ride-hailing service
    - - Traditional currency
        
        Credit cards, Bitcoin
      - Intangible value
        
        Acts as a ‘currency’
        
        YouTube
    - - Interactions and transactions both start with information exchange
  - - - Encourage positive network effects
- - - - Objective: To match users more accurately and effectively
      - Extensive data collection and analysis
      - Use incentives to encourage users to provide data
        
        e.g. LinkedIn uses a "profile completion progress bar"
    - - Objective: To enable users to interact easily
        
        Provide tools + systems → users can create and exchange value
      - Reducing barriers to usage
        
        e.g. Instagram: snap, modify, and share pictures in three clicks on a single device
      - Setting rules to improve quality
        
        e.g. Sittercity: a trusted platform for parents seeking sitters
    - - Objective: To attract participants to the platform
        
        No users → No value
      - Challenge
        
        1.Facing the chicken-or-egg problem
        
        Keeping the interest of users
        
        e.g. Facebook found that users need to reach a certain number of friends to continue using the service
      - Using the feedback loop
        
        single-user feedback loop
        
        e.g. algorithm
        
        multi-user feedback loop
        
        e.g.Facebook’s news feed
  - - - e.g. LinkedIn invited recruiters and advertisers to join
    - - e.g. Uber and Lyft: share rides or solo pickups :blue_car:
    - - e.g. LinkedIn: profiles to discussion posts
    - - e.g. LinkedIn selected “thought leaders” to become producers
- - - - skrinking the market, affect insurance, car finance and parking.
        If this become ture this can change the whole industry.
  - - - step 2. platfrom ate pipelines
        
        this can show software is eating the world.
    - - Airbnb become global accomadation
      - Upwork become a online office
      - Uber dominate local transportation
      - Amazon expand and impact publisher and retailing
  - - - increase of supply and this impact of the platform qualty decrease
    - - Youtube replace the traditional televisionnetwork
      - Twitter replaces the traditional blogging
    - - platform create trust, everyone used to use the new platform
- - - - Allowing producers and consumers to reach each other directly
        
        e.g. YouTube replaced TV networks and controls discovery
      - becomes the new gatekeeper
        
        e.g. Uber replaced taxi companies and controls driver access and pricing
      - holds more power than the old intermediaries
    - - letting users provide the assets
        
        e.g. Airbnb → doesn’t own hotels, but controls a huge marketplace
      - focus on software and coordination
        
        e.g. YouTube → doesn’t own videos, but controls the video recommendation
      - control of pricing and market access
        
        e.g. Uber → doesn’t own cars, but controls pricing and customer access
    - - To gathers many small producers into one “supermarket” that customers can easily access