EP038: The Platform Revolution with Geoffrey G. Parker

Geoffrey Parker is a Professor of Engineering at the Thayer School at Dartmouth College, where he also serves as the Director of the Master of Engineering Management Program. In this podcast, he joins Tim to discuss his recent book, The Platform Revolution: How Networked Markets Are Transforming The Economy And How to Make Them Work for You. He also offers insights to business leaders who may be in the process of transitioning their existing data, from an informational intercompany resource into a new product offering or service.   Key Takeaways: [1:38] Geoff Parker defines a platform. [5:38] A real life business example of how Marriott International controls every aspect of the customer experience vs. Airbnb who controls very little. [10:00] The platform is part of a longer arc, which started with global outsourcing. [15:30] Industries with regulations and high failure cost will be disrupted first and it will affect their end markets.  [24:52] How does the globalization movement affect local economies?  [27:22] How can leaders mitigate risk through this transitional period and should they develop their own platform strategies? [33:07] Incumbent firms have an opportunity to repackage and repurpose their existing data into new products and services. [39:31] How to best connect with Geoff Parker and join the Platform Revolution community.   Mentioned in This Episode: The Platform Revolution The Platform Strategy Institute Praxent