[MUSIC] Welcome back, this week our conversation continues to focus on viability. Following on from our discussion about business model patterns, we're now going to dive into one of these patterns, Platforms. You might ask why this one? There are three recent findings or statements I want to point to, that indicated to me that we should be looking more closely at platforms. Number one, the top 50 platform companies now have a combined market capitalization of nearly $5 trillion USD. This statement was made in the 2017 platform strategy summit. Number two, platforms beat products every time. This is a statement made by Boston University Professor Van Alstyne. And three, platforms are the most profound disruptive change in the global macroeconomic environment since the Industrial Revolution. The fact that I'm concentrating on this particular pattern doesn't mean that the others aren't as interesting or that every company should now be a platform company. If I could spend more time with you, I'd actually like to explore a couple of other patterns, especially given the importance that I place on viability, but our time is limited. We'll start by getting to know platforms, what they are. How they differ from other business models. What the different types of platforms are. How to create a successful platform. And finally, to wrap it all up, I'll present you with six questions to help you decide if you should create your own platform. Let's get started. [MUSIC]