Digital platforms are reshaping industries from "summary" of The Second Machine Age by Erik Brynjolfsson,Andrew Mcafee
The pervasive influence of digital platforms is fundamentally transforming industries across the globe. These platforms have become the foundation upon which new business models are built, disrupting traditional methods of operation. In the past, companies had to invest heavily in physical infrastructure to enter a market. Today, digital platforms provide a cost-effective way for businesses to connect with customers and provide services.
The rise of digital platforms has enabled unprecedented levels of connectivity between producers and consumers. This direct interaction has eliminated many middlemen, allowing for more efficient and profitable transactions. Take the example of Airbnb, a platform that connects homeowners with travelers seeking accommodation. By eliminating the need for a traditional hotel, Airbnb has revolutionized the hospitali...
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