Summary
In this chapter, we learned that a digital platform acts as a glue that ties all the entities together to deliver value. We saw that digital platforms are mediators that enable a connection between producers and consumers whereas, in linear products, producers directly communicate with the consumers. This direct connection doesn't let the linear products scale, limiting their user base and consumer reach. We looked at how producers are scattered in the linear world, whereas digital platforms aggregate and accumulate them in one place, creating a healthy competition. This competition offers better choices and lower prices to consumers. Linear products limit options for consumers and restrict more extensive reach for producers, whereas digital platforms are built on this very foundation of creating strong network effects.
We understood that linear products and digital platforms are fundamentally different, and hence the exact same product management techniques cannot...