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Machine, Platform, Crowd: Harnessing Our Digital Future

Book by Andrew McAfee · 3 quotes · Marketplaces, Networks, Platforms

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All Marketplaces Networks Platforms Decision Making Forecasting Prediction

Machine, Platform, Crowd: Harnessing Our Digital Future Quotes

“Owners of premium brands can charge more for their offerings, but the owners of two-sided networks want to pay to sellers as little as possible of the money they take in from buyers. The result is an obvious tension. Many platforms, especially when they’re new and trying to build volume and network effects, want to have on board at least one prestigious brand. But as platforms grow, they want to keep more of the consumer’s share of both mind and wallet.”

Platforms Networks Marketplaces

Book:Machine, Platform, Crowd: Harnessing Our Digital Future

Source: Machine, Platform, Crowd: Harnessing Our Digital Future

“The platform can also use the extensive tool kit of revenue management techniques to shape which suppliers each buyer sees, and how prominently. It’s not too cynical to expect that a platform might use this power to feature lesser-known suppliers over more famous ones, all else being equal.”

Platforms Networks Marketplaces

Book:Machine, Platform, Crowd: Harnessing Our Digital Future

Source: Machine, Platform, Crowd: Harnessing Our Digital Future

“Our world is increasingly complex, often chaotic, and always fast-flowing. This makes forecasting something between tremendously difficult and actually impossible, with a strong shift toward the latter as timescales get longer.”

Decision Making Prediction Forecasting

Book:Machine, Platform, Crowd: Harnessing Our Digital Future

Source: Machine, Platform, Crowd: Harnessing Our Digital Future