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Platforms have existed for decades, but the modern platform economy has completely disrupted traditional business models in ways that have enhanced and continue to benefit our lives. But what exactly is a platform? A platform is a product or service that is reliant on a feedback-generating ecosystem to grow and thrive. As the platform scales, it offers more products and services, thereby attracting more users, who will then provide more feedback for the platform to expand. There are hundreds of platform companies around the world – think Etsy, eBay, Amazon – focusing on education, commerce, travel, and more, and while a company can sell you a bounty of products—from books to backpacks—a platform can transform an entire industry with sets of solutions. Read more…
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