Why Big Tech Companies Aren't 'Platforms'

Evercore senior advisor and Columbia Business School professor Joanathan Knee talks to Caroline Hyde about his new book "The Platform Delusion," arguing that while the platform business model is supposed to mean big bucks from investors with the promise of big returns, many of the big tech platforms essentially "suck the value out of the companies that actually do things."

[@summertech2014]

He misses some very important aspects of digital platforms. 1. Network effect. Being digital means the expansion cost is low and once the network effect kicks in, that’s a huge barrier of entry and switching cost. 2. Data - platform doesn’t need to make money from transactions. They can give away the service as long as they acquire data. The trove of customer and transaction data is far more valuable. Of course digital platforms are valuable but it’s a winner takes all market.

[@ahsanmohammed1]

Seems like he’s a dinasaur.

[@birgirkarl]

A comment section is a great PLATFORM to declare this video uninteresting and boring.

[@_JudgeDredd]

True

[@bonghunezhou5051]

Hear hear.

[@ahsanmohammed1]

Birgir - Good one! 🤣

[@davidng2699]

Prof Knee should have used this Bloomberg interview as a PLATFORM to sell his book which is a terrific read detailing the business models of the FAANGs in lay person's terms. To be honest, the content of the book did not quite gel with it's catchy / controversial title. But then again, maybe I just didn't get it.

[@yvonneguerry4144]

Implied volatility is a critical measure we should understand, utilize, and always keep in our toolbox. Any project requires the right tools. Implied volatility reflects the wisdom of the crowd, and crowds tend to make better decisions than individuals.

[@Rnankn]

What is different, is when a platform is decentralized.

[@wildreams]

I don’t think it’s healthy to discourage risk taking to create something new and innovative.

[@ayvri8922]

This guy has confused a platform with a marketplace. Windows is a platform, ebay is a marketplace. Real estate online is a marketplace.

[@dertythegrower]

Big tech companies are platforms. Who is this guy getting his definitions from? Get better sources boomer. If you are a person and you get attention off of social media, than by definition and common sense its a platform. Also big tech is funded by public dollars in the 8 to 9 figures now, so its not private at all, especially for being the main source of information and events.

[@ahsanmohammed1]

He’s a dinasaur

[@TristenHernandez]

Why are there never any comments on these videos?

[@dertythegrower]

Their content is junk, that's why. There is comments, but they put out content all day 100s of video so it gets washed away by the newer uploads instantly. They have a lot of other channels that get views.. but their news is obviously biased for biden like msnbc. Also they promote a lot of cryptoscammers

[@kayrow]

Potatoe, potato...

[@richardparker123]

Is that you Dan Quayle?

[@lrm21]

This guy is so wrong. There are only a handful of platform companies in the world. Google is a search and data platform there is no competitor, Facebook(meta) is the social media platform, if you want to reach a broad targeted audience as a business or brand there is no alternative to Facebook and Instagram. Amazon is the ecommerce platform. These are companies that have built effect network monopolies that allow to extract above average value. I have never heard anyone refer to Compass as a real estate platform.

[@RussInGA]

buzz words are very MBA... perhaps if you synergize the technological platforms to drive a superior customer experience and create an ecosystem that builds a community you will succeed... lol

[@ahsanmohammed1]

Professor is a dinasaur, sorry.