“Owners of premium brands can charge more for their offerings, but the owners of two-sided networks want to pay to sellers as little as possible of the money they take in from buyers. The result is an obvious tension. Many… — Andrew McAfee Copy Share Image
“The platform can also use the extensive tool kit of revenue management techniques to shape which suppliers each buyer sees, and how prominently. It’s not too cynical to expect that a platform might use this power to feature lesser-known suppliers… — Andrew McAfee Copy Share Image
“Our world is increasingly complex, often chaotic, and always fast-flowing. This makes forecasting something between tremendously difficult and actually impossible, with a strong shift… — Andrew McAfee Copy Share Image
“Getting rid of human judgments altogether—even those from highly experienced and credentialed people—and relying solely on numbers plugged into formulas, often yields better results.” — Andrew McAfee Copy Share Image
“Because we humans are so fond of our judgment, and so overconfident in it, many of us, if not most, will be too quick… — Andrew McAfee Copy Share Image
The changes are coming so quickly it's been difficult for workers to retrain themselves and for entrepreneurs to figure out where the next opportunities… — Andrew McAfee Copy Share Image
“Algorithms are simplifications; they can't and don't take everything into account (like a billionaire uncle who has included the applicant in his will and… — Andrew McAfee Copy Share Image
Just in the past couple years, we've seen digital tools display skills and abilities that ... eat deeply into what we human beings do… — Andrew McAfee Copy Share Image
“Owners of premium brands can charge more for their offerings, but the owners of two-sided networks want to pay to sellers as little as… — Andrew McAfee Copy Share Image
“Electrification was one of the most disruptive technologies ever; in the first decades of the twentieth century, it caused something close to a mass… — Andrew McAfee Copy Share Image
“The platform can also use the extensive tool kit of revenue management techniques to shape which suppliers each buyer sees, and how prominently. It’s… — Andrew McAfee Copy Share Image
“Pricing strategies for two-sided networks can be aggressive and seemingly nonsensical if you don’t understand their peculiar economics. In particular, changes in the quantity… — Andrew McAfee Copy Share Image
