RTA 989 Lecture Notes - Lecture 2: Natural Resource, Value Chain, Information Privacy
Document Summary
Class 2 - platforms: the (web) giants walk among us. Core themes: multi-sided markets/ demand-side economies of scale/ network effects/ regulation/ vc funding. Platforms: 2 or more sets of market actors. Often subsidize from one set and take money from the other (don"t necessarily take money from both). Iconic failure of dot. com era - set the foundation for the platform age. Solution but no problem/ disintermediation (take the middleman out of the equation and connect users and buyers to sellers so they receive better prices and sellers will lower their costs)/ not data driven/ product not service/ easily replicated. They created a solution where there was no problem (no need to attack) They used disintermediation rather than remediation (pet store was more convenient) No unique value proposition (sold products instead of service or accommodations) Easily cloned (companies quickly started replicated dot. com) Lesson learned: monetization of new media didn"t lie in selling stuff but it was about making connections, not commerce!
