How to Become a Big Tech Billionaire

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You want to be a modern day monopoly man. Modern day monopolists have so much power that they’re basically the equivalent to kings and queens and everything people fantasize about being a rich entrepreneur. Your first instinct to model the old robber barons of the past, like Rockefeller and Carnegie. Start a linear business where resources go in, products come out, and then you buy up the entire supply chain for that product. The problem with this traditional route is that it’s outdated. Today’s monopolists are much different. Instead of buying up more factories, it’s all about acquiring more users. Zuckerberg, Bezos, Pichai, all get their fair share of criticism these days. They’re idolized as the greatest entrepreneurs of their time. We collectively create these monopolies ourselves. Screw the old monopolists, let’s join the ranks of the new monopolists. We need a business model that doesn’t rely on patented scientific discovery.

Platforms are the one thing that all these new age monopolists have in common. Networks of users are the one thing that allows us to monopolize. Controlling the networks is the safest, most sustainable, and most profitable way to go. The platform entrepreneurs are the secrets behind today’s all powerful monopolists.

All a platform is a network where producers and consumers can meet and exchange value. Building one and getting it off the ground is much harder than a traditional linear business where resources go in and goods come out. The first step in your monopolistic journey is picking the right market.

The most important question you have to answer in your quest for your monopoly platform is what is the Core Transaction? If the platform is the modern day factory, the core transaction is the assembly line. Step 2 in our assembly line is a user connecting with another to spark that exchange. Step 3 is simple - once consumers find the right match, they consume the producer’s inventory. And step 4, consumers give value back to the producer in exchange for what they consumed. It’s so important to get each step as efficient as possible.

Start audience building. As the network gets bigger it’s gonna get harder and harder to connect the right consumers with the right producers. Offer tools and services. Platforms are by far one of the hardest businesses to build today because you run into the chicken and egg problem. Make sure your platform is healthy with audience building, matchmaking, rules and standards, tools and services. We need to lay the groundwork, the platform for entrepreneurs to build off in space. And as we’ve learned, the ones who control the means of connection in space? Well, they’ll probably be trillionaires
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Видео How to Become a Big Tech Billionaire канала Jake Tran