This particular article raises me to think about cash -n- carry business during pandemic and post pandemic , how the future and shape of it looks like. We have plenty of examples where platforms are coming to resuce common people purpose and need, on the same line we have seen news showing big tech companies like Intel,Qualcomm etc investing in Jio platforms.I think the day is not too far when we will have jio as one app for all like we have one gst rate for a particular kind of product. As comparing to Jio platforms to case study which we discussed acquring first 1000 customers ( AirBnB, Etsy &Uber),the check list which talks about way forward for platform builders : I guess it ticked all bullet points which says- Attract mass people, Offer standalone value,ensure compatibility with legal systems and they must have sensed way time ago only before launching Jio Platforms. The interesting part to watch will be Jio as one step solution for grocery, entertainment app, healthcare, savings plans advisor, life insurrance provider and advisor,lending money to sme etc like we name anything related to platform and marketplace and the app should be Jio and i believe this will happen in near future. The future plans of Reliance for Young and Vibrant India should be very interesting to watch and contribution towards the society inching to Digitilization. Adding to digitilization, Google announces to support and invest in digital world worth of INR 75,000 cr. As it goes along with Platform business, Network effects, creating enough moats, study their flanks,commodification where ever it requires will always be core values and competitive advantage.( By seeing the Jio Platforms). On lighter note , during this Anti-China apps and other stuffs, lets hope Reliance will be Mashiash for all kind of solutions be a Title sponsor for IPL or investors to startups.
Jio should definitely step in and save IPL from the "Chinese attack" on sports sponsorships. They anyways own a team in IPL. The Big Four + MS have any choice but to engage with Jio. Of course, Apple would be too snotty to be at Jio level and thus Amazon is the only rival led for Mukesh Ambani !
Right now most of the financial institutions moving towards the platform business, one of the best example is HDFC. Many financial platforms are working in different directions like Zerodha warning investors about Pump and Dump Schemes and illiquid options whereas platforms like Finception and Groww who are simplifying the finance for millennials and guiding them that where to invest the money to gain maximum return. They keep track of their portfolios and also provide a service where investors can interact and increase their financial awareness.
Therefore it's true that money is shaping and this will definitely bring positive changes and make us a digitalized economy.
Platforms have to play a more active role in regulating themselves and their ecosystem partners. Unethical behaviour anywhere in the ecosystem can pull down the entire platform.
No doubt HDFC came up with an amazing concept and tried to come out from their usual process. As you rightly mentioned we see banks as payment partners but HDFC entered into its own E-commerce platform. I wonder how many people really rely on this platform as we already have reliable sources and quick services platforms which tremendously gives a lot of convenience to customers. HDFC also offers rewards, gift cards but the concern might be there in the minds of the customers related to help and support services for the same because many customers face issues in general banking transactions and its resolution which takes a lot of time to be solved online.
HDFC is a true market leader and this strategy of leading the change is going to hep them in long run. In terms of customer service, HDFC Bank fares better as they have the best customers in the first place.
Sir, it goes without saying once again an absolute masterpiece by the master himself. The CHAKRA (Circle) of IKIGAI reminds me of the law of energy conservation which states that energy can neither be created nor destroyed, it can only be transformed from one form to the other. We always get something by losing something. That is the reason why we say "Darkness is nothing but the absence of light".Also, sir your passion and your extensive research on Platforms business is commendable. I truly believe your research and frameworks would help all of us create our own platforms one day. Thanks a lot for sharing such an insightful article. I would be happy to read more.
Thanks Abhishek for your kind words. Most of the insights come out of class discussion during the Managing Platform Businesses (MaP) elective course at IBS Hyderabad. This year we have had 25% more enrolment in the course thus beyond 150 students in the odd semester itself.
That is great news Sir this means 25% more people where smart enough to choose and elective which is the need of the hour .This would give them huge scope during preparation for interviews
This particular article raises me to think about cash -n- carry business during pandemic and post pandemic , how the future and shape of it looks like. We have plenty of examples where platforms are coming to resuce common people purpose and need, on the same line we have seen news showing big tech companies like Intel,Qualcomm etc investing in Jio platforms.I think the day is not too far when we will have jio as one app for all like we have one gst rate for a particular kind of product. As comparing to Jio platforms to case study which we discussed acquring first 1000 customers ( AirBnB, Etsy &Uber),the check list which talks about way forward for platform builders : I guess it ticked all bullet points which says- Attract mass people, Offer standalone value,ensure compatibility with legal systems and they must have sensed way time ago only before launching Jio Platforms. The interesting part to watch will be Jio as one step solution for grocery, entertainment app, healthcare, savings plans advisor, life insurrance provider and advisor,lending money to sme etc like we name anything related to platform and marketplace and the app should be Jio and i believe this will happen in near future. The future plans of Reliance for Young and Vibrant India should be very interesting to watch and contribution towards the society inching to Digitilization. Adding to digitilization, Google announces to support and invest in digital world worth of INR 75,000 cr. As it goes along with Platform business, Network effects, creating enough moats, study their flanks,commodification where ever it requires will always be core values and competitive advantage.( By seeing the Jio Platforms). On lighter note , during this Anti-China apps and other stuffs, lets hope Reliance will be Mashiash for all kind of solutions be a Title sponsor for IPL or investors to startups.
Wonderful analysis, Roshan.
Jio should definitely step in and save IPL from the "Chinese attack" on sports sponsorships. They anyways own a team in IPL. The Big Four + MS have any choice but to engage with Jio. Of course, Apple would be too snotty to be at Jio level and thus Amazon is the only rival led for Mukesh Ambani !
Right now most of the financial institutions moving towards the platform business, one of the best example is HDFC. Many financial platforms are working in different directions like Zerodha warning investors about Pump and Dump Schemes and illiquid options whereas platforms like Finception and Groww who are simplifying the finance for millennials and guiding them that where to invest the money to gain maximum return. They keep track of their portfolios and also provide a service where investors can interact and increase their financial awareness.
Therefore it's true that money is shaping and this will definitely bring positive changes and make us a digitalized economy.
Platforms have to play a more active role in regulating themselves and their ecosystem partners. Unethical behaviour anywhere in the ecosystem can pull down the entire platform.
Again a newsletter full of insights sir!!
No doubt HDFC came up with an amazing concept and tried to come out from their usual process. As you rightly mentioned we see banks as payment partners but HDFC entered into its own E-commerce platform. I wonder how many people really rely on this platform as we already have reliable sources and quick services platforms which tremendously gives a lot of convenience to customers. HDFC also offers rewards, gift cards but the concern might be there in the minds of the customers related to help and support services for the same because many customers face issues in general banking transactions and its resolution which takes a lot of time to be solved online.
HDFC is a true market leader and this strategy of leading the change is going to hep them in long run. In terms of customer service, HDFC Bank fares better as they have the best customers in the first place.
A good read !
Do share your insights.
Sir, it goes without saying once again an absolute masterpiece by the master himself. The CHAKRA (Circle) of IKIGAI reminds me of the law of energy conservation which states that energy can neither be created nor destroyed, it can only be transformed from one form to the other. We always get something by losing something. That is the reason why we say "Darkness is nothing but the absence of light".Also, sir your passion and your extensive research on Platforms business is commendable. I truly believe your research and frameworks would help all of us create our own platforms one day. Thanks a lot for sharing such an insightful article. I would be happy to read more.
Thanks Abhishek for your kind words. Most of the insights come out of class discussion during the Managing Platform Businesses (MaP) elective course at IBS Hyderabad. This year we have had 25% more enrolment in the course thus beyond 150 students in the odd semester itself.
That is great news Sir this means 25% more people where smart enough to choose and elective which is the need of the hour .This would give them huge scope during preparation for interviews