1 - #itb8: Platform Before Product
Our students live in a world of strong platforms. There may be competition but when needing a product or service, one name comes usually first into the mind of every customer.
May it be Amazon for shopping, AirBnB for finding accommodation or Uber for a taxi-service.
It is important, to recognize the main principle behind it: It is the „Winner Takes It All“ - principle. When a platform in the internet reaches a certain popularity in its niche, it is not simply more successful than it competitors. It outperforms than vastly.
Another interesting fact is, that some platforms do not offer the services or product and just help the customer and the provider. Uber for example does not own a single car.
That might be a motivation for our students to start an own venture one day. It definitely should encourage them to look further than the most known webpage.
The platform-model is not exactly new and not restricted to the digital world. There have been matchmakers in the ancient Greece and a tulip exchange in the Netherlands. The digitization took this model, spread it and made it so important.