The Platform Revolution
at the Massachusetts Institute of Technology (MIT) about the platform as a model for business successcompanies.
Markus Pertlwieser in conversation with Geoffrey Parker
Markus Pertlwieser on...
... the platform phenomenon: In principle, platforms are a kind of digital market place that bring supply and demand together. Goods are generally not offered by a company, but by the customers themselves. The goods can be “produced” with marginal costs of zero and can be distributed around the world as needed. This is what makes platforms so special.
Regardless of which platform you choose, the most successful will always be those that understand their customers best.
... the challenges and opportunities facing companies: Issues like ‘mindset’, ‘risk tolerance’ and ‘leadership’ are essential precursors for the transformation to a platform. Ultimately, it’s people that create the platform, and that’s why the human aspect is also of great importance.”
... the transatlantic cooperation with MIT: The question of what new business models in a platform-based environment could look like is also ofmajor relevance for banks. That’s why we decided to become a Corporate Sponsor Member at the Massachusetts Institute of Technology. We want to share information with thought leaders who possess an unbelievable amount of expertise.
Geoffrey Parker on...
... the Platform Revolution: We speak of a revolution because successful platforms like Amazon, Airbnb or Uber have unleashed massive changes in society and have had a huge impact on established companies. It’s impossible today to ignore their growth or global reach. Platform companies possess enormous disruptive potential: they can create new markets and completely change existing ones.
… challenges for established firms: Their competitive advantage begins with their broad customer base, their employees, their already existing and profitable business models or their valuable technologies.
…opportunities for startups: I would advise young entrepreneurs in Europe to look for markets that are underserved. Areas in which customers cannot find the product or service they are looking for. I consider the cultural diversity here to be a great opportunity to open up markets that have so far remained inaccessible.