“Platform hype” and why the world needs more decentralization

How the platform economy can create a better future for emerging economies, but only if it is “done right”

I will be at the United Nations in New York this week attending a meeting on how to create a better and more sustainable future for emerging economies. We will focus on identifying the business environment that can produce sustainable economic growth for everyone.

I will talk about “platforms.”

I genuinely believe that a big part of the answer for a better future for everyone in emerging markets is for more businesses and organizations to structure themselves and operate as platforms, to “partner” with platforms, or to become a part of one or more platforms.

By platforms, I simply mean any organization that uses digital technologies to create connections between two or more groups of users. Obvious examples are Amazon (connecting buyers and sellers of goods), Facebook (connecting family and friends), or Uber (connecting service providers and users).

Now I know that defending platforms is far from fashionable right now.

The “platform hype” of a few years ago has waned significantly. And this is hardly surprising. After all, the platforms I just mentioned (Amazon, Facebook, Uber), as well as others (e.g., Google), have experienced a lot of negative publicity recently.

But platforms are here to stay, and I believe that if “done right” platforms can still add enormous value, especially for emerging economies.

Let me explain.