How can Europe compete with the dominance of US and Chinese 'platform' businesses?

business Jan 19, 2016

The New York Times ran an article today suggesting that Tech’s ‘Frightful 5’ Will Dominate Digital Life for Foreseeable Future.

The five are Apple, Google, Facebook, Microsoft, but you could easily add Chinese businesses like Alibaba, Xiaomi and Tencent and a myriad of 'Unicorns' like Uber, Paypal and Airbnb who are disrupting traditional sectors and - bucking the trend of most businesses today - growing exponentially...thanks to a business model they all share, called a 'platform'.

Collectively these businesses are now worth over $4 trillion, according to a new study by my friends at the Center for Global Enterprise.

The European Commission's 'single digital market' unit has recognized the power and importance of this business model and are starting to consider how to manage the fact that only 4% of that $4 trillion has been generated by European-based businesses.

To help address this issue I'm excited to be running a briefing event on 2nd February with the Center for Global Enterprise, the UK's Center for the Digital Economy and BearingPoint at The Shard in London.

The event is gathering a group of senior executives and policy makers from different sectors who want to understand how platform businesses work, the impact they will have on their sector, and how they themselves can adopt or adapt the platform approach to create a new way to grow.

We're delighted that Eric Peters, Deputy Head, Digital Single Market unit at the European Commission will also participate and share their latest thinking and plans.

Watch this space for the output...

 

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