Episode 24: Platform Companies | Value of Growth Lecture Series скачать в хорошем качестве

Episode 24: Platform Companies | Value of Growth Lecture Series

In this video I discuss Platform Companies, a topic that seems to engender confusion among both academics and practitioners. I explain the difference between a one-sided and multi-sided platform and demonstrate that only one-sided platforms have network effects, which seems to be widely misunderstood. Throughout my discussion on Competitive Advantage, I argue that a company must have a sustainable competitive advantage to create value for its shareholders over time and, without a sustainable competitive advantage, there will be no value from growth. For a company to have a sustainable competitive advantage it needs to combine at least some level of customer captivity with either a proprietary manufacturing process / service delivery capability or the economic advantages of scale. Platform companies are scale businesses, by definition, which means the challenge these companies face is establishing and maintaining some level of customer captivity, a problem that both Uber and OpenTable have struggled with. This video is the last lecture on Competitive Advantage. We begin discussing growth in the next video. #pauljohnson, #valueofgrowth, #valueinvesting, #growthinvesting, #columbiabusinessschool, #fordhamuniversity, #gabellischoolofbusiness, #valuation, #competition, #excessreturns, #ROIC