Summary of Andrew McAfee & Erik Brynjolfsson's Machine, Platform, Crowd

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 Go is a strategy game developed in China about 2,500 years ago. It is difficult to play well, and no luck is involved. It is considered a more difficult game than chess.

#2 Go players use a group of heuristics to navigate the absurd complexity of the game. They are unable to explain how they know what they know, and it is hard to make such tacit knowledge explicit.

#3 A computer was able to win a five-game match against the European Go champion in 2015, and many analysts and commentators called this a breakthrough. However, some argued that the magnitude of the achievement was exaggerated.

#4 The games between Sedol and AlphaGo attracted intense interest throughout Korea and other East Asian countries. AlphaGo won the first three games, ensuring itself of victory overall in the best-of-five match. But Sedol came back to win the fourth game.

• Language: English
• Publisher: IRB Media
• Release date: Jun 13, 2022
• ISBN: 9798822540231

IRB Media

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Insights on Andrew McAfee & Erik Brynjolfsson's Machine, Platform, Crowd

Contents

Insights from Chapter 1

Insights from Chapter 2

Insights from Chapter 3

Insights from Chapter 4

Insights from Chapter 1

#1

Go is a strategy game developed in China about 2,500 years ago. It is difficult to play well, and no luck is involved. It is considered a more difficult game than chess.

#2

Go players use a group of heuristics to navigate the absurd complexity of the game. They are unable to explain how they know what they know, and it is hard to make such tacit knowledge explicit.

#3

A computer was able to win a five-game match against the European Go champion in 2015, and many analysts and commentators called this a breakthrough. However, some argued that the magnitude of the achievement was exaggerated.

#4

The games between Sedol and AlphaGo attracted intense interest throughout Korea and other East Asian countries. AlphaGo won the first three games, ensuring itself of victory overall in the best-of-five match. But Sedol came back to win the fourth game.

#5

In 2015, Tom Goodwin noticed a pattern. Uber, the world’s largest taxi company, owns no vehicles. Facebook, the world’s most popular media owner, creates no content. Alibaba, the most valuable retailer, has no inventory. These companies had no assets, yet they were able to quickly reach millions of customers and billions in valuation.

#6

Facebook has grown from a social networking site into a global utility of communication, connection, and content. It draws people in and keeps them engaged for an average of fifty minutes per day without generating any of the information that appears on the site.

#7

The companies that Goodwin was talking about were an indescribably thin layer that owned mostly applications and code, not physical assets and infrastructure, which allowed them to grow rapidly.

#8

General Electric is a successful American company that has been in business for more than 100 years. It has developed products for consumers, from Edison’s electric lamps to radios and TVs to household appliances.

#9

In 2014, GE and the University of Louisville launched a joint initiative called FirstBuild, a co-creation community that is changing the way products come to market. It consisted of both an online presence and a microfactory equipped with the tools and materials needed to prototype products.

#10

In 2015, GE launched an Indiegogo campaign for the ice maker, which it had named the Opal. Within a few hours, the campaign raised more than twice its goal. By the time it closed in late August 2015, the Opal campaign had attracted more than $2. 7 million.

#11

The three trends that are reshaping the business world are the rise of billion-dollar Silicon Valley unicorns, the transformation of Fortune 500 stalwarts into platforms, and the spread of human knowledge and expertise online.

#12

The counterparts of machines are products, which are goods and services. The counterparts of platforms are products, too. The counterparts of the crowd are the core: the knowledge, processes, expertise, and capabilities that companies have built up internally and across their supply chains.

#13

The second machine