Modern Monopolies: What It Takes to Dominate the 21st Century Economy

A guide to platform businesses that shows how they work, how to replicate the success of some of history's best platforms, and how to handle disruption."[A] stimulating book . . . The authors are particularly interesting on how modern platform companies are able to outsource much of their innovation." —The Financial Times"Modern Monopolies brilliantly lays out the formula for how to get rich in the platform economy. From building audiences to creating network value, this book will become the handbook for the next generation of business leaders." —George F. Colony, CEO, Forrester ResearchIn 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 . . . 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 twenty-five percent of total Web visits, and the Google platform crash in 2013 took about forty percent of Internet traffic with it. Representing the ten most trafficked sites in the U.S., 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 ten years."Satisfying and timely, a valuable contribution to our understanding of modern business." —Booklist"A provocative and highly accessible primer on building twenty-first century monopolies that aptly deconstructs the winners and losers with deep insight and analysis. Modern Monopolies provides a deep understanding of emerging platform business models that is required to create the next Amazon, Google, or Uber." —Craig Hatkoff, Co-Founder of the Tribeca Film Festival, Disruptor Foundation Read more