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“A platform is a raised, level surface on which people or things can stand. A platform business works in just that way: it allows users—producers and consumers of goods, services, and content— to create, communicate, and consume value through the platform. Amazon, Apple’s App Store, eBay, Airbnb, Facebook, LinkedIn, Pay- Pal, YouTube, Uber, Wikipedia, Instagram, etsy, Twitter, Snapchat, Hotel Tonight, Salesforce, Kickstarter, and Alibaba are all platform businesses. While these businesses have done many impressive things, the most relevant to us is that they have created an oppor- tunity for anyone, even those with limited means, to share their thoughts, ideas, creativity, and creations with millions of people at a low cost. Today, if you create a product or have an idea, you can sell that product or share that idea with a substantial audience quickly and cost-effectively through these platforms. Not only that, but the platforms arguably give more power to individuals than corporations since they’re so efficient at identifying ulterior motives or lack of authenticity. The communities on these platforms, many of whom are millennials, know when they’re being sold to rather than shared with, and quickly eliminate those users from their con- sciousness (a/k/a their social media feeds). Now, smaller organizations and less prosperous individuals are able to sell to or share their products, services, or content with more targeted demographics of people. That’s exactly what the modern consumer desires: a more personalized, connected experience. For example, a Brooklyn handbag designer can sell her handbags to a select group of customers through one of the multitude of fashion or shopping platforms and create an ongoing dialogue with her audience through a communication platform such as Instagram. Or an independent filmmaker from Los Angeles can create a short film using a GoPro and the editing software on their Mac and then instantly share it with countless people through one of a dozen video platforms and get direct feedback. Or an author can write a book and sell it directly from his or her website and social channels to anyone who’s excited about it. The reaction to standardization and globalization has been enabled by these platforms. Customers can get what they want, from whomever they want, whenever they want it. It’s a revised and personalized version of globalization that allows us to maintain and enhance the cultural connections that create the meaning we crave in our lives.”

“Ian and Steve knew there were no hotels cater- ing to the taste and lifestyle of their clientele. It was obvious to them that the hotel business was stale with sameness; if they could infuse art and lifestyle into this segment of commerce, they would disrupt the industry.”

“While many say Schrager’s work is about design, it isn’t—it’s about ideas and experiences. Ian uses the power of his ideas to tap into what he calls the “collective unconsciousness, the ethereal, elusive, and hard-to-define magic and energy.” He understands the power of this intangible, emotional place and uses it to connect deeply with his customers. He knows that “the way a product makes you feel is more important than how it looks. The goal is to create experiences that people will remember, to touch them in emotional and visceral ways, to lift their spirits, to assault their senses, and to wow them in tasteful ways.” But just as important, Schrager under- stands that an amazing experience can’t be created from ideas alone, knowing that “good execution is just as important as a good idea.” And he has consistently manifested his creative potential because he has regularly married the four key elements that create value in our new age: purpose, creativity, execution, and emotion.”

“Instead of leasing buildings in a traditional manner to multiple larger tenants, coworking companies lease entire structures and then sell these leases at a higher rate to members, a/k/a tenants. A change in use, not physical form. Combine that with the intangibles of inventive branding and experiential activation, and you’ve transformed one of the largest industries in the world—commercial real estate—sim- ply by changing the way people perceive it.”