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Publisher's Summary

What do Google, Snapchat, Tinder, Amazon, and Uber have in common, besides soaring market share? They're platforms - a new business model that has quietly become the only game in town, creating vast fortunes for its founders while dominating everyone's daily life. A platform, by definition, creates value by facilitating an exchange between two or more interdependent groups. So, rather than making things, they simply connect people.

The Internet today is awash in platforms - Facebook is responsible for nearly 25 percent of total Web visits, and the Google platform crash in 2013 took about 40 percent of Internet traffic with it. Representing the 10 most trafficked sites in the US, platforms are also prominent over the globe; in China, they hold the top eight spots in web traffic rankings.

The advent of mobile computing and its ubiquitous connectivity have forever altered how we interact with each other, melding the digital and physical worlds and blurring distinctions between "offline" and "online." These platform giants are expanding their influence from the digital world to the whole economy. Yet, few people truly grasp the radical structural shifts of the last 10 years. In Modern Monopolies, Alex Moazed and Nicholas L. Johnson tell the definitive story of what has changed, what it means for businesses today, and how managers, entrepreneurs, and business owners can adapt and thrive in this new era.

©2016 Applico, LLC (P)2017 Audible, Inc.

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Mostly notes for myself or highlights of the book

Loving this so far!

1. Modern monopolies are bottom up build and not top down. They are essentially created by the customers.

2. Companies like Uber, Facebook, Amazon, Alibaba, etc are not taking the pie away from traditional business, they’re making he pie much larger.

3. Microsoft was considered a monopoly of the 90’s and yet they are nearly forgotten today because of the rise of Google and Apple... and in the years to come there will be more technology to overtake google and apple

4. The difficulty with these platform based “monopolies” is to have a large user base and also a larger producer base. It’s hard to bring more people into a platform that doesn’t have producer, and vice versa hard to bring producers into a platform with no customers. Examples include YouTube stars making videos because of people constantly on the site. And more customers watching because of the large amount of content being put out. Uber has troubles with this, so they introduced surge pricing, which is a very genius way to balance supply and demand!

Lots of golden nuggets to feed on and understand the next 30+ years of business and advancement.