Summary

In this chapter, we learned how platform businesses have revolutionized their respective industries by creating a solid network of producers and consumers who connect via a platform and deliver value.

We looked at how platform businesses are beneficial for all parties involved and why traditional linear businesses need to shift to a platform model and adapt a platform-first approach. We looked at different types of platforms and what roles producers, consumers, and platform owners play in each of these different types of platforms, and why it is essential to have separation of ownership between these parties.

We discussed how building the right digital platform plays an essential role in an overall platform business model's success. In today's world, a platform business's success depends on a highly scalable, flexible, and independent digital platform.

In the next chapter, we will go deeper into understanding the difference between traditional linear products and platforms and how product management is different for them. We will look at a case study of one business case solved with two different approaches: a standalone linear product and a digital platform.