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Platform Revolution Ch1-4 & Lecture Video, Percentage of AI usage, .…

- - - - Crowdsourcing
    - - Open Innovation
- - - - Core Definition: Connects producers and consumers to facilitate value exchange
      - Three Basic Elements of Exchange
        
        Information: Absolute starting point for all platform interactions
        
        Goods or Services (Value Units): Exchanged directly on the platform or delivered offline
        
        Currency: Traditional currency or intangible forms of value （ attention, reputation, and influence）
    - - Paradigm Shift: Demand scale replaces supply scale
      - Metcalfe's Law: 4 phones = 6 links, 100 = 4950
      - Frictionless entry: Google pagerank beat Yahoo
    - - Network Effects: Same-side and cross-side, positive or negative
      - Solving the chicken-or-egg problem
        
        Grow both sides together ：1 driver—3 riders
        
        Subsidize one side：Uber free 30$ rides
      - Side switching:：riders become drivers
- - - - Start with one interaction, then expand
      - Participants: producer and consumer roles
      - Value unit: listing, video, tweet, profile
      - Filter: search query or news feed algorithm
    - - Pull: solve chicken-or-egg, add feedback loops
      - Facilitate: Instagram cut sharing to 3 clicks
      - Match: Linkedin progress bar gathers data
      - Craigslist survives on pull alone, for now
    - - Change value unit: profile to discussion posts
      - New users:recruiters and advertisers join
      - New value units: Uberpool, Lyft line sharing
      - Not all work: Moodswing's amateur counselors
    - - App features live at the edge, not the core
      - Vista failed: legacy code packed into the core
      - OS X kept old apps in a Classic sandbox
    - - Twitter hashtags came from a user's idea
      - Watch behavior and absorb useful quirks
- - - - Progression from slow early R&D, to explosive growth, to flattening at physical/market limits
    - - Mature firms must transition to a new S-curve (the second growth curve) before the old one flattens, overcoming resource dependence and inertia.
  - - - Improving existing products along mainstream performance metrics to serve high-margin, demanding customers.
    - - Entering from low-end or new-market fringes; initially inferior on mainstream metrics but offering new attributes like lower cost, simplicity, and convenience.
    - - Once performance improves to meet mainstream needs, disruptors rapidly displace incumbents.
  - - - Kodak invented the first digital camera in 1975 but failed to adapt due to organizational inertia and lock-in to highly profitable chemical film.
  - - - Upgrading individual parts while the linking architecture remains the same; incumbents usually handle this well.
    - - Reconfiguring the links between existing components; incumbents often fail because internal communication and models are bound to the legacy architecture.
- - - - Find ways to protect its innovation and turn it into profit (Value)
        
        Intellectual Property (IP)
        
        Protect innovations through patents, copyrights, or trademarks.
        
        A company needs more than a good invention. It must also protect its knowledge, develop the right resources, and deliver its innovation to customers.
        
        Tacit Knowledge
        
        Practical knowledge and skills that are difficult to explain or copy.
        
        Lead Time
        
        The time advantage gained by entering the market before competitors.
        
        Complementary Assets
        
        Additional resources needed to commercialize an innovation.
  - - - A company that developed the CT scanner
        
        Lacked some complementary assets
        
        Performance was not maximized, unlike companies such as GE and Siemens, which had stronger sales networks, distribution channels, and service capabilities.
        
        Being the first to invent something does not guarantee that you will become the market leader.
    - - Success in digital music (came from more than just its devices)
        
        surrounding ecosystem
        
        iTunes
        
        Companies can capture more value by combining their innovation with complementary products, services, and distribution systems.
        
        Product Design
        
        Software, Hardware
        
        Distribution
  - - - Pioneers (First Movers)
        
        Enter the market first
        
        Can build early brand recognition and customer loyalty
        
        Gain early experience and relationships.
        
        Face high R&D costs and uncertain customer demand.
      - Fast Followers
        
        Enter after the pioneer.
        
        Can learn from the pioneer's mistakes.
        
        Can improve the existing product or business model.
        
        Risk entering a market where competitors already have strong advantages.
      - Real-Options Approach
        
        Investing step by step instead of spending all the money at once.
        
        can test an idea first,
        
        study customer feedback
        
        invest more if the results are promising.
  - - - Common standards and interfaces help developers create compatible features and services.
        
        The main lesson is that companies should consider not only their own products but also how their products connect with other products and services.
- - - - Chicken-or-egg
      - Feedback loop
      - Network effect (Uber)
    - - Lower friction
      - Open APIs / SDKs
    - - Data + Filter
      - Curation