Vendor
	Mohrbooks Literary Agency Sebastian Ritscher
Original language
English
Categories
Political economy

THE PLATFORM DELUSION

Jonathan A. Knee

Who Wins and Who Loses in the Age of Tech Titans

An investment banker and professor explains what really drives success in the tech economy.

Many think that they understand the secrets to the success of the biggest tech companies: Facebook, Amazon, Apple, Netflix, and Google. It's the platform economy, or network effects, or some other magical power that makes their ultimate world domination inevitable. Investment banker and professor Jonathan Knee argues that the truth is much more complicated - but entrepreneurs and investors can understand what makes the giants work, and learn the keys to lasting success in the digital economy.

Knee explains what really makes the biggest tech companies work: a surprisingly disparate portfolio of structural advantages buttressed by shrewd acquisitions, strong management, lax regulation, and often, encouraging the myth that they are invincible to discourage competitors. By offering fresh insights into the true sources of strength and very real vulnerabilities of these companies, THE PLATFORM DELUSION shows how investors, existing businesses, and startups might value them, compete with them, and imitate them.

THE PLATFORM DELUSION demystifies the success of the biggest digital companies in sectors from retail to media to software to hardware, offering readers what those companies don't want everyone else to know. Knee's insights are invaluable for entrepreneurs and investors in digital businesses seeking to understand what drives resilience and profitability for the long term.

Jonathan A. Knee is the author of The Accidental Investment Banker, The Curse of the Mogul, and Class Clowns. He has written dozens of op-eds, book reviews and magazine articles over the past three decades on a wide variety of topics touching on culture, business, law, economics and public policy in publications including The Atlantic, Wall Street Journal, and New York Times. Since 2014, he has served as the Book Entry columnist for the New York Times Dealbook. He is the Michael T. Fries Professor of Professional Practice in Media and Technology at Columbia Business School, where he also serves as co-Director of the Media and Technology Program. Knee has been an investment banker for over 25 years, at Goldman Sachs, Morgan Stanley, and Evercore Partners, where he remains a senior advisor.

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Book Published 2021-09-07 by Portfolio

Comments

CNBC Squawk Box Interview: Columbia's Knee on the Big Tech 'platform delusion' Read more...

Author's piece: The death of American meritocracy ... Read more...

In the worlds of business and investing, the word 'platform' has acquired an almost magical significance. Many believe that the term can manifest wealth and prestige for a business. But what does the word really mean? When does it mislead? And how ultimately should we as a society manage the role these businesses play in our life? It's critical questions like these that Jonathan Knee wrestles with and answers in his important new book, The Platform Delusion.

Chinese (compl.): Commonwealth ; Chinese (simpl.): PRH Beijing ; Japanese: CCC Media House ; Korea: Chungrim

The nation's best business writer.

Essential reading if you really want to understand the age of the digital giants. Jonathan Knee brushes magical thinking and Silicon Valley hype aside and makes a compelling case that while technology changes, the fundamentals of business never do.

Jonathan Knee has done it again. He identifies where value actually comes from in platform companies. (Spoiler alert: competitive advantage, just like your economics professor taught you.) The book is a must read for students of platform companies and their valuation.

Jonathan Knee mercilessly cuts through the hype and wishful thinking about America's best-known tech giants to show which really has the coveted competitive advantages likely to reward investors. I can almost guarantee you'll be as surprised as I was.

Every generation flatters itself by thinking it has reinvented the rules of business. Knee's book is a jolting and often hilarious exposure of our delusions that teaches, once again, that the fundamentals of business may not have changed quite as much as you think they have. Everyone should read this book.

Jonathan combines the gimlet eye of a banker with the methodical rigor of an academic to produce a deeply thought-out look at the innards of tech industry business models.