Silicon Valley is considered as tech capital of the region. It is home to the various tech companies that have transformed the world. Moreover, it appears that the powerhouses in Silicon Valley's business landscapes are the platforms.
According to a former report from Tech Crunch, "One of the most important lessons that Silicon Valley learned, that gives it a strategic advantage, is to think bigger than products and business models because it builds platforms." To prove the latter, firms such as Google, Amazon, Uber, AirBnb, and eBay are not relying solely on selling their good, their products and services but they have directed their gaze on building platforms.
To confirm the latter, the competition between tech companies are rising and the more stable and strong their platforms are, the higher their advantages become. In a former report from Jobs & Hire, it was noted that both Apple Pay and Paypal are in a close battle to dominate the industry and they are using their platforms to make it a reality.
It stands to reason that even the companies that are not tech based such as Walmart, Nike, John Deere, and GE have also joined the ranks of those firms that have formed their own platforms. John Deere, for example, is constructing a hub for agricultural products, and platforms are becoming progressively important as all information becomes digitized; as everything becomes an Information Technology and entire industries get disrupted, according to the same report.
It is important to note that platform is not a fresh idea nor a new-fangled concept because it is simply means of building something that is open, comprehensive, and features a strategic focus. It clearly indicates that the powerhouses In Silicon Valley are the platforms and it is one of the elemental aspects that each company can utilize to fortify their business and expand their horizons.
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