Summary

In this chapter, we discussed the transition journey of businesses from linear products to the platform. We started by understanding the need for transformation. We discussed how disruption occurring in various industries due to rising platforms is inevitable, and hence transforming linear businesses to the platform model is essential. And this transition to the platform model can benefit the entire ecosystem and not just the platform owners.

We learned how to validate whether transforming to a platform model is a viable option or not. Businesses in certain industries are not yet ready to be changed because of the open nature of the platforms and regulations and misuse opportunities in those industries. In some cases, the platform model is advisable for the system, but it may not be suitable for specific players in the system. For example, in industries such as retail, travel, and service crowdsourcing, where platform businesses have proven themselves, the platform model...