One of the most important business models of the 21st century is, without question, the platform model, which powers many of today’s biggest and most disruptive companies. Innovation platform, such as Google Android, Apple iPhone operating systems, and Amazon Web Services enable third-party firms to add complementary products and services to a core product or technology. Transaction platforms, which include the likes of Amazon Marketplace, Airbnb, and Uber, bring together producers and users in efficient exchanges of value, and they leverage network effects—the more participants, the greater the value produced. Read More

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