in Platforms, Quotes, Technology

What defines a platform

Today, I read a great definition of what creates a platform delivered by, no other than, the “great” BillG (emphasis all mine):

Neither of [Facebook platform and connect] are platforms. They’re both kind of like these comical endeavors that do you as an Nth priority. I was in charge of Facebook platform. We trumpeted it out like it was some hot shit big deal. And I remember when we raised money from Bill Gates, 3 or 4 months after… Like our funding history was $5M, $83 M, $500M, and then $15B. When that 15B happened around literally a few months after Facebook platform and Gates said something along the lines of, “That’s a crock of shit. This isn’t a platform. A platform is when the economic value of everybody that uses it, exceeds the value of the company that creates it. Then it’s a platform.”

Via the very controversial Chamath Palihapitiya at StrictlyVC’s Insider Series.