From one decade to another

WSJ

Perhaps it would be best to say it in reverse, that the “word” was defined by it.

Or maybe each defined the other, depending on perspective.

The reference is to platform, as a concept in law, technology, and popular attraction. And growth relates to its membership participation.

The definitional importance (and confusion) stem from the novelty, in both cases.

On one hand, the platform concept combines old elements and established norms into something that is altogether new, though seemingly familiar… the communication system, the broadcast operation, the department store, the financial exchange.

While, on the other hand, growth is determined by each of these components differently, and now in combination.

Each of the platform dimensions requires its own particular level of attention, from participants, operators, regulators and other observers… but the combined whole shapes the platform’s value, economically and socially.

Industrial disruption, as widely advertised over the past decade, will be more properly understood as reinvention in the decade to come.

This will impact strategy, analysis, regulation, product, business model, funding and investment, valuation, reference points and standards of competition, everything…

… as markets will internalize the fact that the bank, the retailer, the telecom, the entertainment and information delivery, the exchange, are all converged as one…

… and measured now in nodes, clusters, ties, and network effects, regardless of the offering.