. Ultimately, the results will depend on how we believe markets should be structured—who gains and who can compete; how we innovate; what we value in society; how we protect our communities, our workers, and the clients and users of these technologies; and how we channel the enormous opportunities created by these sociotechnical changes. It is up to us to sidestep a dystopia and to create, if not a utopia, at least a world of ever greater benefit for communities and citizens. Gig Economy: In a gig economy, temporary, flexible jobs are commonplace and companies tend toward hiring independent contractors and freelancers instead of full-time employees. A gig economy.
The sharing economy has evolved over the past few years where it now serves as an all-encompassing term that refers to a host of on-line economic transactions that may even include business to business (B2B) interactions. Other platforms that have joined the sharing economy include: The API economy is an enabler for turning a business or organization into a platform. said Kristin R. Moyer, vice president and distinguished analyst at Gartner. Platforms multiply value creation because they enable business ecosystems inside and outside of the enterprise to consummate matches among users and facilitate the creation.
Everyone's talking about the gig economy—and a growing number of people work in it.The term might seem like something new, but it really isn't. Before apps brought the idea of on-demand services and gig work to everybody's phone, the gig economy was sometimes called the freelance economy, agile workforce, or even temporary work For example, Airbnb, one of the most successful examples of sharing economy platform, is often criticized by regulators and policy makers. While, in theory, municipalities should regulate the emergence of Airbnb through evidence-based policy making, in practice, they engage in a false dichotomy: some municipalities allow the business without. For established firms, managing a platform ecosystem raises a number of organizational and governance issues, including “who has access to the platform, how to divide value, and how to resolve a conflict,” notes the CGE report. “The goal is to arrange complementors and consumer rules to maximize ecosystem profits… All of this must be done recognizing that the platform leader is orchestrating free agents rather than directing employees in a hierarchical command-and-control structure.”Criticism of the sharing economy often involves regulatory uncertainty. Businesses offering rental services are often regulated by federal, state or local authorities; unlicensed individuals offering rental services may not be following these regulations or paying the associated costs. This could mean giving them an advantage that enables them to charge lower prices. A platform is a product that serves or enables other products or services.. Platforms (in the context of digital business) exist at many levels. They range from high-level platforms that enable a platform business model to low-level platforms that provide a collection of business and/or technology capabilities that other products or services consume to deliver their own business capabilities
A technology platform is an environment for building and running applications, systems and processes. These can be viewed as toolsets for developing and operating customized and tailored services. The following are common types of technology platform. Operating systems provide the basic services required to use hardware In the era of the platform, the future remains open. Answers to crucial questions are for the moment unknowable. The answers depend on our choices, not just on the technology. For example, will cloud technologies and the platform-driven economic reorganization they cause drive the productivity growth on which sustained real income improvement occurs? Will these reorganizations destroy jobs or reduce the required skill levels?
REPORT | Market Definition and Market Power in the Platform Economy With the rise of digital platforms and the natural tendency of markets involving platforms to become concentrated, competition authorities and courts are more frequently in a position to investigate and decide merger and abuse cases that involve platforms The importance of platforms is closely linked to the concept of network effects: The more products or services it offers, the more users it will attract. Scale increases the platform’s value, helping it attract more complementary offerings which in turn brings in more users, which then makes the platform even more valuable… and on and on and on.The algorithmic revolution and cloud computing are the foundations of the platform economy. But computing power is only the beginning of the story. That computing power is converted into economic tools using algorithms operating on the raw material of data. The software layer that stretches across and is interwoven with the economy is a fabric of algorithms. That software layer, that algorithmic fabric, is being extended to cover manufacturing, giving birth to the Internet of Things, the Internet of Everything, or the Industrial Internet, with its implied webs of sensor networks. It is no exaggeration to say that software was formerly embedded in things, but now things—services as well as physical objects—are woven into software-based network fabrics. This software layer extends the availability and lowers the cost of access to digital tools and traditional tools accessed by and controlled by digital processes. Moreover, costs drop through the use of open-source software, cloud storage and computing, and physical spaces such as those provided by TechShops that enable individuals to work with advanced industrial-scale equipment. Among other consequences, this certainly lowers the cost of entry for newcomers. A platform strategy is an approach to entering a market which revolves around the task of allowing platform participants to benefit from the presence of others. In traditional competitive strategy, it is generally assumed that customers can determine their willingness to pay for the product or service independently
Socialism definition is - any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods. How to use socialism in a sentence. communism, socialism, capitalism, and democracy socialism vs. social democrac Martin Kenney ([email protected]) is professor of community and regional development at the University of California, Davis. John Zysman ([email protected]) is co-director of the Berkeley Roundtable on the International Economy and professor emeritus of political science at the University of California, Berkeley.
The sharing economy is built on the idea that sharing certain goods, services, and skills is more efficient. This can reduce costs for available goods, services, and time. For instance, if you only need to use a bandsaw once a year, it's much cheaper to pay $20 to rent one from a neighbor or tool lending library than to shell out $1,000 or. An economic policy is a course of action that is intended to influence or control the behavior of the economy. Economic policies are typically implemented and administered by the government. Examples of economic policies include decisions made about government spending and taxation, about the redistribution of income from rich to poor, and about the supply of money While running for office in 2008, Barack Obama made many promises about fixing the economy. He pledged to end the Great Recession and change the policies that had caused it. The candidate also promised to solve many long-term economic problems, like the high cost of health care, U.S. dependence on foreign oil, and the stimulation of more technology and innovation
Clarifying the definition of the sharing economy is important, as both advocates and opponents are asking for defined regulations in order to protect businesses and individuals alike. According to the Oxford English Dictionary, the sharing economy is defined as an economic system in which assets or services are shared between private. . A mobile application, commonly referred to as an app, is a type of application software designed to run on a mobile device, such as a smartphone or tablet computer. The platforms connect buyers and. We are in the midst of a reorganization of our economy in which the platform owners are seemingly developing power that may be even more formidable than was that of the factory owners in the early industrial revolution. Every four years, the Democratic Party puts together our party platform, the ideas and beliefs that govern our party as a whole.What follows is our 2016 platform — our most progressive platform in our party's history and a declaration of how we plan to move America forward that the number of platform economy workers will grow at a steady rate - since 2009, 800,000 more people have registered as self employed. Self employment now accounts for about 5 million workers in the UK, up to 1.3 million of which spend at least part of their time working in the platform economy
The application of big data, new algorithms, and cloud computing will change the nature of work and the structure of the economy. But the exact nature of that change will be determined by the social, political, and business choices we make.For example, Airbnb had to face racial discrimination complaints from African-American and Latino would-be renters due to widespread user preference not to rent to these customers. As more data is presented and the sharing economy evolves, companies within this economy have pledged to combat bias in both their users and algorithms often by deliberately limiting the availability of information to and about buyers and sellers.It is evident that platforms open up many entrepreneurial opportunities. Some entrepreneurs, such as Robin Chase at Zipcar, envisioned an alternative social, not just economic, model because digitally enabled car sharing could dramatically reduce the incentive to own a car. If that model spread widely, it might result in a drop in overall demand for auto production. This may or may not disrupt Hertz (Zipcar was sold to Avis), but it might dramatically affect automakers. Indeed, automakers responded by developing partnerships with Uber and Lyft. In other words, such “sharing” solutions could have unforeseen ripple effects on entire market ecosystems, as encyclopedia and book publishers are discovering to their dismay.
What’s the current state and growth potential of platform companies? How many large platforms are currently operating around the world? What’s their impact on established enterprises? These are among the questions addressed in in a recent report, The Rise of the Platform Enterprise: A Global Survey led by Peter Evans and Annabelle Gawer and sponsored by the Center for Global Enterprise. The report is based on a comprehensive survey of the 176 platform companies around the world with an individual valuation exceeding $1 billion. Their aggregate market value was over $4.3 trillion.Not only is there a host of ways through which California could meet its 2045 carbon neutrality goal, but it would be a lot less costly than previously imagined.
A few large companies offer the capabilities of both transaction and innovation platforms in their integration platforms. Apple and Google, for example, have established innovation platforms for their developer ecosystems, whose apps are then made available in their respective transactional platforms. Similarly, Amazon and Alibaba serve as transactional platforms for their individual users, and as innovation platforms for the many vendors who also sell their wares on their e-commerce platforms.Respond to the ideas raised in this essay by writing to [email protected]. Share Cite this Article Kenney, Martin, and John Zysman. “The Rise of the Platform Economy.” Issues in Science and Technology 32, no. 3 (Spring 2016).
The rise of the platform economy The platform economy poses significant questions, challenges and opportunities for society, the labour market and organisations The world is going through a new economic revolution, disrupting the economy, businesses, labour markets and our daily lives in a way not seen since the industrial revolution While predominant in the U.S .and China, platform companies have an increasing global presence. Of the 176 platform companies included in the survey, Asia has the largest number with 82, 64 of which are in China. North America has 64, with 63 in the U.S. Europe is a major consumer of platform services, but it’s home to relatively few platform companies--27 spread across 10 countries, 9 of which are in the UK. Africa and Latin America have a number of small platform companies, only 3 of which have met the $1 billion valuation threshold for inclusion in the survey. An application can also be a platform if it is a base for other programs. For example, Web browsers accept third-party plug-ins, and the browser application becomes a platform to interface with What does platform economy actually mean? Find out inside PCMag's comprehensive tech and computer-related encyclopedia
Dialogue between ILO constituents and platform cooperatives can help move toward more decent work practices devised by and for workers in the platform economy. Further research is needed to better understand the implications of platform cooperatives on working conditions, the organisation of work, production and the governance of work 8 Platforms and Ecosystems: Enabling the Digital Economy Markets have existed for millennia, yet properties of platforms seem new. Where product firms, like diamond mines, protect their profits with barriers to entry, platform firms make profits by lubricating the entry of drivers on Lyft and merchant shops on Alibaba. Where product firms Platform Strategy: Building and Thriving in a Vibrant Ecosystem Dates: Jul 21-22, 2020 | Nov 10-11, 2020 Over the past two decades, some of the most profitable and successful firms are those that have adopted a digital platform model—a strategy whereby the company allows two or more disparate groups to interact over a platform to co-create value; for example, website developers and users on.
Speculations aside, while there is a rich and emerging literature, at the moment there is no real theory of the effect of these diverse platforms on the overall economy. To sense the scope of the market and regulatory impact of the loosely labeled platform economy, let us consider some of the most salient types of digital platforms. Sharing Economy: The sharing economy is an economic model often defined as a peer-to-peer (P2P) based activity of acquiring, providing or sharing access to goods and services that are facilitated.
Platform entrepreneurs increasingly believe that if they possess a first-mover advantage, they can, in fact, remake existing law by creating new practices on their platforms that essentially establish new norms of behavior. It is often said in Silicon Valley, “Don’t ask permission; ask forgiveness,” as, perhaps, was the case with Volkswagen’s “fix” for “clean” diesel engines. Of course, this forces two sets of questions. First, who writes the code, and whose values are expressed in code? The code writers, taking Uber as an example, have already reshaped social behavior. Government rules will influence how the new technologies are deployed and their consequences, but in a platform economy, government decisions may be constrained by the “facts” in the software. What is a platform business? Let's first be clear what we are talking about: not every technological platform is a platform business. E.g. Microsoft Xbox, gaming consoles, app stores are technology platforms that are based on a platform business model.; Amazon Web Services is a technology platform that is not based on a platform business model.; Google, Facebook, YouTube, Airbnb, Uber, eBay. The Libertarian Party supports the decriminalization of prostitution. We assert the right of consenting adults to provide sexual services to clients for compensation, and the right of clients to purchase sexual services from consenting sex workers. 2.11 Labor Markets. Employment and compensation agreements between private employers and. for society, the economy, and businesses everywhere: often platform-based, business models. In Business ecosystems come of age we explore in detail what lies behind these changes, where they might take us, the new options—and threats—they present to many incumbents, and the stra
These digital platforms are diverse in function and structure. Google and Facebook are digital platforms that offer search and social media, but they also provide an infrastructure on which other platforms are built. Amazon is a marketplace, as are Etsy and eBay. Amazon Web Services provides infrastructure and tools with which others can build yet more platforms. Airbnb and Uber use these newly available cloud tools to force deep changes in a variety of incumbent businesses. Together they are provoking reorganization of a wide variety of markets, work arrangements, and ultimately value creation and capture. Platform Economy: Technology-driven business model innovation from the outside in Industry leaders are unleashing technology's power by developing not only new technology platforms, but also the platform-based business models and strategies they enable. But the technology changes are only the beginning. 2 Technology Vision 201 With platforms, the fundamental rules of strategy change. Strategy shifts from controlling to orchestrating resources; from optimizing internal processes to facilitating external interactions; and from increasing customer value to maximizing the value of the ecosystem. The question of outcomes goes beyond the question of whether digital platforms spawn entrepreneurs or monopolists. We need to ask whether a society organized around platform owners servicing mini-entrepreneurs, contractors, and gig workers portends an even more unequal society. Does the answer depend on the character of platforms or on the policies and politics of the platform economy?
Define platform. platform synonyms, platform pronunciation, platform translation, English dictionary definition of platform. n. 1. a. A horizontal surface raised above the level of the adjacent area, as a stage for public speaking or a landing alongside railroad tracks. party line The party has announced a platform of economic reforms. They. There are many definitions on the Web, either too complex or too simplistic, so let's define a Digital Platform with its key attributes. #1 It is a technology-enabled business model. #2 It facilitates exchanges between multiple groups - for example end users and producers - who don't necessarily know each other One hundred sixty of the 176 companies included in the survey run transactional platforms, although since many of them are relatively small, their aggregate market value is around 25% of the total. The five platforms in the innovation category-- Microsoft, Oracle, Intel, SAP SE and Salesforce.com Inc.--comprise 21% of the total market value. Not surprisingly, the six companies offering both innovation and transactional platforms, are the giants in the industry--Apple, Google, Facebook Inc., Amazon, Alibaba and XiaoMi--with almost 50% of the global market value.
Definition: Personal selling is also known as face-to-face selling in which one person who is the salesman tries to convince the customer in buying a product.It is a promotional method by which the salesperson uses his or her skills and abilities in an attempt to make a sale. Description: Personal selling is a face-to-face selling technique by which a salesperson uses his or her interpersonal. What is the Platform Economy? MIT Professor Michael Cusumano offers a pretty clean definition: A platform or complement strategy differs from a product strategy in that it requires an external ecosystem to generate complementary product or service innovations and build positive feedback between the complements and the platform Spurred primarily with the growth of Uber and Airbnb, it is expected that the sharing economy will grow from $14 billion in 2014 to a forecasted $335 billion by 2025.
Platform definition. The 'platform' metaphor has long been used in a variety of ways. In the context of platform economy, 21st-century usage of the word platform sometimes refers solely to online matchmakers - such as Uber, Airbnb, TaskRabbit etc. Academic work and some business books often use the term in a wider sense, to include non-digital matchmakers like a business park or a nightclub. The impact on employment and the character of work is certainly one element in assessing whether we will have a utopia or dystopia. In our view, that outcome is yet to be determined. As a society we will have to make choices about how to deploy new technologies, choices that will be critical in shaping the ultimate impact. The questions are really: what balance will there be among jobs created as the digital wave flows through our economy and society, and which workers will be displaced? Certainly it is feasible to catalogue existing work, particularly work that is routine, as likely to be replaced or reconfigured by digital tools, and perhaps, as some have tried, to estimate the numbers of such existing jobs that will be digitized away. By contrast, the new kinds of work that are now being created and the existing jobs that will be redefined and reorganized in the future are more difficult to forecast, so we can only speculate. Algorithms and databases are automating some kinds of work, but even as this occurs other value-creating opportunities are appearing. There will be new products and services as well as new production and service processes, which are likely to be design and creativity intensive, as well as algorithm-enabled. Some of the early indicators of the new or transformed work can be enumerated, but certainly not exhaustively counted. Following a competitive selection process, the Commission has appointed 15 high-profile experts as members of the expert group for the Observatory on the Online Platform Economy.As this group is set up by a Commission Decision, it is part of the Register of Commission expert groups.. At its on 27 September 2018, the group adopted its rules of procedure and selected Prof. Bruno Liebhaberg as. Digital platforms are complicated mixtures of software, hardware, operations, and networks. The key aspect is that they provide a set of shared techniques, technologies, and interfaces to a broad set of users who can build what they want on a stable substrate. Android and IOS are platforms. Although they somewhat restrict the applications that one can build or sell, they are, in general, open to app builders. Android is also a platform for hardware (handset and other device makers) because the code is open, not just the interfaces. Indeed, platforms can grow on platforms. Many of the current Internet platform firms use Amazon Web Services. Many of these platforms attract a myriad of other contributors that, when sufficiently rich, can result in the formation of an ecosystem. For example, in the case of the apps stores, complementary businesses are emerging. AppAnnie is a firm that ranks the revenue generated by apps; there are advertising agencies that analyze YouTube ad buying; TubeMogul classifies YouTube “stars” and measures their reach; and there has been a proliferation of agencies that cultivate new YouTubers. These “complementors” are powerful allies in building and maintaining the lock-in for the master platform. Of course, building a platform is work, but platforms themselves then generate or organize the work of others by providing the digital locations for the connections that organize work and other activities.
In brief, they allow us to collaborate and transact on a global scale. To be successful in the platform economy, business leaders and policy-makers must ensure they have access to the right talent. This means expanding the current talent pool, through reskilling or hiring outside of isolated, internal groups The Definition of an API Platform An API provider is an organization that exposes data and/or capabilities through a programmatically consumable service or an Application Programming Interface (API). This organization is more than a provider and has become a platform when its API Sharing economies allow individuals and groups to make money from underused assets. In a sharing economy, idle assets such as parked cars and spare bedrooms can be rented out when not in use. In this way, physical assets are shared as services.
Many are now concerned that rather than creating a new source of productivity we are legitimating a new form of putting out. Can Uber drivers be self-supporting contractors in a 1099 economy rather than stable workers in an employment economy, or are they just extremely vulnerable gig workers? And, more broadly, as Ruth Collier asks, what will be the consequences for mass politics and political structures? Are we generating labor market flexibility, or a precariat that resembles a cyberized Downton Abbey replete with a small elite composed of the platform owners and a new and sizable underclass? Know-Nothing party, U.S. political party that flourished in the 1850s and was an outgrowth of the strong anti-immigrant and especially anti-Roman Catholic sentiment that started to manifest itself during the 1840s. Learn more about the Know-Nothing party . While uncertainty, lack of benefits and erratic schedules making up some of the negative aspects. As for businesses, the gig economy provides many positives, including contracting experts on a project basis and. The new platform economy is based on interaction of many involved actors. Platforms will give companies new opportunities by changing how they interact with each other, oftentimes also disrupting the traditional business rules. Therefore, configuration of platform ecosystem is one of the key tasks in a platform economy
The platform economy comprises a distinctly new set of economic relations that depend on the Internet, computation, and data. The ecosystem created by each platform is a source of value and sets the terms by which users can participate Indeed, we may, unless policy rules lock in the position of the emerging incumbent, see another round of innovation and job creation. The use of digital automation presents a classic dilemma: anything that can be characterized sufficiently to become computable can be copied, as our colleague Niels Christian Nielsen has argued elsewhere. At that point, another round of innovation and imagination will be required. Can automation innovate itself? More likely, teams of people and digital tools working together will be required to be competitive. The Turing test might be able to establish that a digital machine can imitate intelligence, but the test does not establish consciousness or consider whether human consciousness in all its diversity differs in fundamental ways from current algorithmic tools. Definition definition, the act of defining, or of making something definite, distinct, or clear: We need a better definition of her responsibilities. See more
There are several ways to estimate the size of the gig economy and non-traditional workforce. Some count the total number of workers who participate in any form of non-traditional work. Some only count those who rely on this work for their primary earnings. Others count only particular types of arrangements, like online platform work or. Term third-party payment Definition: Payments made on behalf of one person (party) to a second person (party) by a third person (party) for benefits received by the first person (party).Eliminating the person (party) language, these sorts of payments are a standard method of buying health care. Insurance companies and the government pay doctors for the medical care received by patients How to tax the platform economy? In the engine room of nation states, ie the tax departments, the coming battle with platform providers is taking shape. Uber, airbnb, facebook, linkedin, ebay, jobseek, and a myriad of specialised platform providers facilitate micro-trades that are largely untaxed by the authorities
Uber, Airbnb, and Apple's iPhone are innovations that have gobbled up market share and are transforming competition. What is common among them is that they are platform businesses that bring. The Bloc Québécois' main priority is Québec and the people who live there, meaning that many of their economic beliefs are going to be centered around creating a stronger economy for Québec. One of their goals is to support the development of the things which their economy is based. Platform: The Bloc QuÃ©bÃ©cois Party. Platform. What is the platform economy?Although it is easy to point to companies that are part of this emerging technology-facilitative segment of the economy—for example, Airbnb, Amazon, Uber, Kickstarter, Rent the Runway, and many others—regulators such as the European Commission, the Federal Trade Commission, and the French Digital Council have had great difficulty agreeing on a precise. We prefer the term “platform economy,” or “digital platform economy,” a more neutral term that encompasses a growing number of digitally enabled activities in business, politics, and social interaction. If the industrial revolution was organized around the factory, today’s changes are organized around these digital platforms, loosely defined. Indeed, we are in the midst of a reorganization of our economy in which the platform owners are seemingly developing power that may be even more formidable than was that of the factory owners in the early industrial revolution. The proliferation of labels is simply a reflection of the recognition that platforms are already having powerful consequences for society, markets, and firms, and that we are unclear about their dynamics and directions. Whatever we call the transformation, the consequences are dramatic.Even as the digital era unfolded in its utopian phase in the 1970s, there were skeptics who feared that the new technologies would result in unanticipated and undesirable consequences. Perhaps most prescient was Kurt Vonnegut’s 1952 novel Player Piano, which even gave a bit part to the great mathematician Norbert Weiner. Vonnegut envisioned a digital future of material abundance—albeit a digital future of machines built with tubes, not semiconductors—with a radical social division between a highly credentialed and creatively employed elite and an underclass. His dystopian vision is now finding full expression in the fear that digital machines, artificial intelligence, robots, and the like will displace work for a vast swath of the population. Bill Davidow, once at Intel and then at his own Silicon Valley venture capital firm, expressed this in his Harvard Business Review article “What Happens to Society When Robots Replace Workers?” The MIT economists Erik Brynjolfsson and Andrew McAfee explore this trend in more detail in their book The Second Machine Age.
What is the API Economy (Application Programming Interface Economy) APIs are customer facing, customizable software interfaces that enable once separate software components to effectively communicate by overcoming the inherent incompatibilities created by differing software platforms. APIs bring a new level of connectivity and data sharing to multiple applications, regardless of their. A platform business can be defined as a medium which lets others connect to it. MIT Professor Michael Cusumano defines a platformeconomy as follows A platform or complement strategy differs from a product strategy in that it requires an external. Balancing the need to sustain initiative while cushioning the consequences of significant socioeconomic transformation leads us to a focus on social policy, not just market policy. Social policy, sometimes called welfare, shapes the risks that workers and entrepreneurs take and their evaluation of whether to support or resist change. In the United States, benefits such as pensions and health-care coverage (the latter, until the passage of the Affordable Care Act) have been tightly tied to employment. Lose your employment, lose the protections. The U.S. debate often assumes that expanded welfare protections dampen initiative, pointing to Europe as an example of how investing in social protections limits economic dynamism. Aside from whether this was, in fact, ever the case in Europe, the question is whether social protection will inherently discourage initiative now. In our view, the real issue is never the fact of protections themselves—and indeed we believe that facilitating social and economic adjustment by easing the burdens of those dislocated is both a social obligation and an economic necessity—but how social policy is paid for and organized. Libertarians believe that all people have the right to freely offer goods and services on the market and that free-market approaches are the most effective at improving people's lives. Our current economy is more crony capitalist than it is free, and that is responsible for the majority of problems that some try to blame on capitalism. The free market, when it is allowed to do so, provides.
Digital Transformation Initiative: Unlocking B2B Platform Value 3 Digital transformation is emerging as a key driver of sweeping change in the world around us. It has the potential to significantly improve consumer lives and create broader societal good, while providing businesses with new opportunities to create and capture value market is affected by a) platform governance (for-prot vs. not-for-prot),b) endusers'cost of multihoming, c) platform differentiation, d) platforms'ability to use volume-based pricing, e) the presence of same-side externalities, and f) platform compatibility. It also investigates how privately optimal pricing struc Marshall W. Van Alstyne (firstname.lastname@example.org) is a professor and chair of the information systems department at Boston University and a fellow at the MIT Initiative on the Digital Economy. He is also a co-author of Platform Revolution (W.W. Norton & Company, 2016) and the April 2016 HBR article “Pipelines, Platforms, and the New Rules of Strategy.”
Another concern is that lack of government oversight will lead to serious abuses of both buyers and sellers in the sharing economy. This has been highlighted by numerous highly publicized cases of things like hidden cameras in rented rooms, lawsuits over unfair treatment of ridesharing contractors by the platforms that employ them, and even murders of customers by real or fraudulent rental and rideshare providers. Platform economy . The market is now witnessing the rise of new types of economies that combine and feed on modern technological and social developments, i.e. the sharing economy, the peer-to-peer economy, the collaborative economy, the data economy or the trust economy. While it is no The sharing economy is one of the fastest growing business trends in history, with investors dumping more than $23 billion in venture capital funding since 2010 into startups operating with a share-based model. Because many of these businesses are private, it's impossible to know the actual size of the sharing economy This paper presents a case study of the food delivery platform, Deliveroo, in Belgium in 2016-2018. The case offers insights on the nature of platform work, the workers who perform it, the preferences of workers, the strategy of the platforms, and the role of local regulations There is also a growing cohort of what some call “mini-entrepreneurs” and others call “consignment workers,” who provide goods—usually but not necessarily “virtually”—for platforms such as app stores, YouTube, or Amazon Self-Publishing. Although the vast majority of them are unsuccessful or marginally profitable, some can be enormously successful, and despite the fact that this phenomenon is as yet unmeasured, it is clearly creating many new opportunities for entrepreneurship. In certain cases, particularly in apps, those in the consignment economy sometimes grow so large that venture capitalists will invest in the entrepreneur/firm, and the employees become venture labor. Some of these apps can become platforms themselves. Put differently, the consignment model has significant upside for participants, but it is accompanied by high risk.
Blockchain enables intermediary infrastructures Impact on the platform economy. As mention at the beginning, in the current platform economy, the power belongs to the owner of the platform The JPMorgan Chase Institute is committed to delivering data-rich analyses and expert insights for the public good. Our recently released report Paychecks, Paydays, and the Online Platform Economy explores the demographics and sources of income volatility and provides an unprecedented look at the impact of the Online Platform Economy The sharing economy is generally organized around a technology platform that facilitates the exchange of goods, assets, and services between people across a varied and dynamic collection of sectors
One definition of the sharing economy, developed to integrate existing understandings and definitions, based on a systematic review is: the sharing economy is an IT-facilitated peer-to-peer model for commercial or non-commercial sharing of underutilized goods and service capacity through an intermediary without transfer of ownership. Of. analysis of a diverse sample of 124 sharing economy platforms (SEP) and 130 sharing Facebook groups operating in Europe. The literature analysis considered the themes sharing, sharing econ-omy, and platforms in the sharing economy and resulted in a first version of design guidelines for sharing economy platforms Definition of the Gig Economy The term gig economy refers to a general workforce environment in which short-term engagements, temporary contracts, and independent contracting is commonplace. It's also referred to as the freelancer economy , agile workforce, sharing economy, or independent workforce Cloud computing rests on the virtualization and abstraction of computing processes. One of us (Zysman) has examined the character, emergence, and deployment of cloud computing in work with Jonathan Murray, Kenji Kushida, Patrick Scaglia, and Rick McGeer. Although the details of how it works do not matter for this essay, the consequences do. For the providers of cloud services, scale matters enormously. For users—individuals, small- and mid-size enterprises, startups, and corporations—the consequence is a radical reduction in the cost of computing resources and information and communication technology tools, a radical reduction in barriers to usage. Users can rent resources as they require them rather than having to own or build entire computing systems. Computing and the applications and platforms it facilitates are now available as an operating expense rather than a capital expense.
A deeper dive on the platform economy and its implication on business strategy However, at its core are app-based platforms that dole out work in bits and pieces — making deliveries, driving passengers or cleaning homes — leading some to prefer the term platform economy Who captures the value? Indeed, what is the distribution of risks and rewards for the platform users? There are a variety of mechanisms with various implications for gains distribution. Some platforms allow the owner to “tax” all transactions, whereas others monetize their services through advertising. Platforms can transform work previously done by traditional employees into tasks performed by contractors, consigners, or quid pro quo workers—or create entirely new categories of work. There are also what Gina Neff calls “venture laborers,” that is, the people who work at the platform firms. They receive high wages, and if the firm is successful, the value of the platform is capitalized in the stock market, resulting in remarkable amounts of wealth for the firm’s direct employees and entrepreneurs. If the firm falters or fails, these individuals must find new employment.
The On-Demand Economy Is Growing, and Not Just for the Young and Wealthy. Emerging markets Digital Article. New data shows a rapidly expanding consumer base. To Manage a Platform, Think of It as a. The Sharing Economy definition of the sharing economy, but it's certainly the way innovative solutions based on the Citi digital platform. Last year, we brought 60 finalists to Silicon Valley, New York City and Miami to present these ideas to a panel o Platform Economy & Digital Platforms Pekka Neittaanmäki, Elmira Galeieva, Anthony Ogbechie ABOUT THE PROJECT This report was conducted under the Platform Value Now project funded by Finland's Strategic Research Council Reshaping Work is an innovative international and multi-stakeholder events series discussing the latest trends concerning digital trends and the future of work by promoting research and collective thinking. Two days full of discussion, interaction, cooperation. Involving all stakeholders is key in the debate around the future of work
Moreover, existing jobs will be redefined and reorganized in the future. The character of some existing work—how much or how little, we cannot know—will be reframed but not eliminated by digital technology. Uber, Airbnb, TaskRabbit, Handy, and other platform firms are transforming industries by connecting “producers” with customers in new ways. In some cases, this is displacing or threatening existing, often regulated, service providers, such as taxis and hotels. In other cases, it is formalizing previously less organized or locally organized work. Still other platforms, such as app stores and YouTube, are creating entirely new value-creating activities that are formalizing into what can be seen as precarious careers, such as a YouTube producer or smartphone app developer. Finally, existing organizations are creating new digital and social media marketing departments and jobs. The question in these cases is what system of control and value capture will be in place. Our sense is not necessarily that there will be less work, but that for a growing number of jobs, the relationship with an employer will be more tenuous than ever. These changes are not likely to result in the workerless society. One possibility is a society in which the preponderance of the work and value creation is more dispersed than ever before, even as the platform owners centralize the transactions and capture their value.In the 1980s, the explosive growth of personal computers was largely driven by the emergence of the Wintel platform based on Microsoft Corp.’s operating systems and Intel Corp.’s microprocessors, which attracted a large ecosystem of hardware and software developers. Airbnb and Uber are the two most prominent examples of how to apply the platform business model to the sharing economy.But there are countless other sharing economy platform businesses as you have seen last time in the explanation of types and examples.. One of the early thought leaders, Rachael Botsman, defines the sharing economy as an economic model based on sharing underutilised assets. The graph above highlights where there is the opportunity to build non-platform services that will most likely be people getting paid for providing one-time services, i.e., professional services This policy brief considers the impact of online platforms on labour markets and on the employment relationship in particular. It discusses the importance of outsourcing platforms, arguing that the 'collaborative economy' used by the European Commission (EC) is a misleading concept, as the trend is in fact just an extension of the market mechanism
Here are 15 facts you should know about the platform economy: Worldwide platform companies have a market value of over US$4.3 trillion. Uber has expanded to 67 countries in seven years; it took IBM 50 years to do that. Asia now has the largest number of platform enterprises with 82, with 64 platform companies identified in China Communities of people have shared the use of assets for thousands of years, but the advent of the Internet—and its use of big data—has made it easier for asset owners and those seeking to use those assets to find each other. This sort of dynamic can also be referred to as the shareconomy, collaborative consumption, collaborative economy, or peer economy.Before we turn to the long list of issues, with each issue opening an array of questions and debates, two points need to be made. First, Larry Lessig famously claimed that code is law; that is, code represents binding restrictions on behavior. Algorithms and platforms structure and constrain behavior; the law in the books is often difficult to apply or enforce in the digital world where action is possible only if it conforms to frameworks expressed in the code that shapes and directs behavior. Consider the fight between the Justice Department and Apple; the warrant has no meaning if it cannot be executed in code; for the warrant to be implemented, the code would have to be modified. The Observatory on the online platform economy accompanies the new rules. It monitors and analyses the latest trends and issues in the online platform economy. As a business on an online platform, you can help identify the main issues by sharing your experiences through a dedicated website
Second, although public policies are obviously important, corporate strategies also have far-reaching effects. Do companies view workers only as costs to be contained or as assets—even in an era of algorithms, data, and robots—to be developed and promoted? And equally important, are those assets directly tied to the firm? Who should bear the costs of their retention and upgrading? The Rise of the Platform Enterprise: A Global Survey 1 The rise of the sharing economy: On the Internet, everything is for hire, The Economist , March 9, 2013. 2 The companies are Microsoft, Google, Apple, Intel, Amazon, Yahoo!, Facebook, eBay and Salesforce Who owns or controls the platform? The answer varies by platform, and the differences are important. The distribution of benefits differs considerably, for example, at these platforms: Wikipedia, where the network is managed by a consensus set of rules; the Danish Agricultural Cooperative platform, in which participant owners know one another and there are clear boundaries between inside owners and others; and Uber, in which the platform is owned by a small group of entrepreneurs and their venture capitalists and where the value will eventually be capitalized by the sale of a controlling interest through either acquisition or a stock offering. 5 Steps U Need 2 Take Right Now, It's much worse than they say, We're in the BullsEye. Economic Carnage is coming, Simple (Common Sense) Guide to Product Your Family, Learn Mor
The Online Platform Economy (OPE) is a part of the Gig Economy defined by the hiring of temporary and highly-flexible workers (freelancers and independent contractors) instead of full-time. The sharing economy and platforms: some useful definitions. For many scholars, the sharing economy describes a rise of new business models ('platforms') that uproot traditional markets, break down industry categories, and maximise the use of scarce resources (see among others: Allen & Berg, 2014) Digital Economy: The digital economy is a term for all of those economic processes, transactions, interactions and activities that are based on digital technologies. The digital economy is different from the internet economy in that the internet economy is based on internet connectivity, whereas the digital economy is more broadly based on. “There is clearly a rising platform economy shaping our global business landscape and affecting the lives of citizens worldwide,” says the report in its concluding paragraphs. “This new form of organization seems to be a robust - some would even say dominant - form of business enterprise in the digital economy… While significant challenges lie ahead, the opportunities that platforms reveal are enormous, tapping into an unprecedented level of global Internet connectivity, and a large supply of talent and software skills… to develop the platforms of tomorrow.”Innovation platforms serve as the foundation on top of which developers offer complementary products and services. Innovation platforms enable the platform leaders to attract a very large pool of external innovators, in what is called an innovation ecosystem. S/360 and Wintel platforms developed such innovation ecosystems around mainframes and PCs respectively. More recently, Apple Inc.’s iOS and Google’s Android have established very large innovation ecosystems of app developers for their various mobile devices.
Platform definition is - plan, design. How to use platform in a sentence The debate over jobs created or destroyed is useful and worth continuing, but we should be clear that it has no end, and there will be no definitive answer. For now, there are only indicators and traces to suggest an outcome. And that outcome, we emphasize and repeat, will be shaped by choices about technology deployment that turn on entrepreneurial initiative, corporate strategies, and public policies. As in the discussion of what is being called the Internet of Things or the digitally based reorganization of manufacturing, in our research with colleagues at the Research Institute for the Finnish Economy, we find significant differences among national emphasis and investments. German policy is directed toward maintaining its competitive position in manufacturing built on a base of skills and with a fabric of small and mid-sized companies even as the foundations of production evolve. The U.S. emphasis seems to be on developing and applying high-end sophisticated tooling for aerospace and military applications. On the consumer side, some communities have simply banned Uber and Lyft, whereas others welcomed it. Which communities, this leads us to ask, are most likely to be the sources and beneficiaries of the emerging platform economy? Which are most likely to be discomfited?The 1990s saw the commercial success of the Internet and World Wide Web, driving platforms to a whole new level. Internet-based platforms connected large numbers of PC users to a wide variety of websites and online applications. The power of platforms has grown even more dramatically over the past decade, with billions of users now connecting via smart mobile devices to all kinds of cloud-based applications and services.Irving Wladawsky-Berger worked at IBM for 37 years and has been a strategic advisor to Citigroup and to HBO. He is affiliated with MIT, NYU and Imperial College, and is a regular contributor to CIO Journal.Finally, some of the companies included in the survey are essentially investment platforms, who have invested in, and/or are managing a portfolio of platform companies. The Priceline Group, for example, is focused on online travel and related services, including Priceline, Kayak and Open Table.