We're back from the holidays and will continue to keep you up to date with Digital Business Trends and what's happening in TheNTWK Community with our Newsletter. Learn from others and share your experiences at TheNTWK, the hub of knowledge for digital business models.
Platform Papers 2023 Year in Review
"The year 2023 was another record-setting year for platform competition research. There currently are 641 published articles in the Platform Papers database—101 of those articles (16%) were published in 2023. That’s up from 91 published articles in 2022 and it represents the highest number of yearly additions to date.
Platform competition research in marketing is on the rise. Whereas five years ago, in 2018, the share of marketing articles was less than three percent, in 2023 marketing articles accounted for 27% of all published articles. Management and organizations (28%), information systems (28), and economics (17%) accounted for the remaining 73%," - shared by Joost Rietveld.
The Cost of Speed: CEOs' Burden in Modern Tech Ecosystems
NTWKer Alex Pesjak shared in the community:
“Looking at the performance charts below it is clear that platform business models are powerful and provide the chance to grow exponentially. That means for doubling of business there is no necessity to double the input resources alongside.
Approximately doubling every year is possible and actually is driving the exponential curve without a parallel increase of resources as network effects kick in - over time!
All below run platform business models! More than one!”
Why 2024 Is The Year Of Vision With Apple Vision Pro, AI Wearables And LVMs
“The future of tech is wearable, AI-powered and spatially aware.
If 2023 was the year of Large Language Models with the rise of Open AI’s ChatGPT amassing millions of users in a record-setting few short months, then all signals are pointing toward 2024 being the year that Large Vision Models (LVMs) will be unlocked; AI-driven Spatial Computing will be accessible to the mass market; and computer vision and wearable AI that can see the world will make significant strides.”
The 2024 Tech Strategy Toolkit
Sangeet Pau Choudary published 2024 Tech Strategy Toolkit, a great read laying out nine different tech-driven strategic advantages, with links to deep dive blog posts:
1. The interface advantage
2. The cross-subsidization advantage
3. The brand integration advantage
4. The vertical integration advantage
5. The unbundling advantage
6. The composability advantage
7. The interoperability advantage
8. The community advantage
9. The rebundling advantage
”You will always need to understand how to develop competitive advantage for your business and how tech shifts provide new tools in your strategic toolkit.”
4 Key Lessons From The Geek Way
Andrew Mcafee, co-director of the MIT Initiative on the Digital Economy (IDE), has released a new book called, The Geek Way: The Radical Mindset that Drives Extraordinary Results.
He calls business geeks “obsessive mavericks” who are fixated on finding unconventional solutions to hard business problems. The book offers a framework for geek thinking to become the business norm based on four key concepts: speed, ownership, science, and openness.
Harness Your Network to Unlock Innovation
At TheNTWK, we are all beliveres of the networks! Here is a great article on three key steps that can help you to transform your way of innovating within your business through the power of the network:
"Why do so many big companies get poor returns on all the money they invest in innovation? A large body of research suggests that it’s because their managers tend to think novel ideas are “deviant” and resist them. As a result such ideas get watered down to make them less threatening—or get squashed altogether.
The solution, the authors’ studies show, is to inspire, support, and protect innovation by tapping into your networks. Three practices are especially useful. First, find and mobilize external innovation catalysts who are adept at synthesizing diverse perspectives and identifying creative solutions. Second, engage with internal sparring partners who can highlight potential objections and help fuse ideas with your company’s mission and turn them into compelling business propositions. Third, selectively sequence the introduction of those ideas within your social circles in the company to stress-test and gradually gain buy-in for them."
A Sports Analogy for Understanding Different Ways to Use AI
NTWKer Prasad MK: "AI technology can have a polarizing impact on our society, leaving us to wonder whether it's a technological revolution or a doomsday scenario. A sports analogy can help us better understand the different ways to use AI.
AI tools can range from steroids, to sneakers, to a coach, each representing a different relationship between human users and the technology. Steroids elevate short-term performance, but leave you worse off in the long term."
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