About Steve’s

Live Cohort

OVERVIEW
The past twenty years have brought about great disruption in business with the introduction and proliferation of digital platforms. Marketplaces such as eBay, Amazon, and Taobao changed the way we shop; Search engines like Yahoo! and Google changed the way we gather information; Facebook, Instagram and Twitter changed the way we engage with each other; Uber and Lyft changed the way we commute. What is behind this revolution and why do some digital platforms succeed where others fail?

Participants in this course will gain key insights into the economics behind the most common business models, opportunities, and challenges of digital platforms. Economic modelling will come to life as we explore and dive into key issues such as network effects, e-commerce marketplaces, feedback and recommender systems, online auctions, product versioning and pricing, digital ads, regulation of big tech, and consumer privacy regulation. The goal is to understand the economic principles behind strategies and business models of digital platforms and obtain guidance into how to succeed in this space using these principles.

Using economic reasoning and results from applied research done in large digital platforms, the course will add valuable insights and powerful frameworks to professionals across several roles, including product managers who need to guide innovation in this space; marketing specialists tasked with driving customer acquisition and retention; FP&A managers who struggle to correctly measure success; and business leaders who must understand the forces behind both growth and decline in the digital economy, to name a few

Lecture 1 - Network Effects and Economies of Scale

Steve Tadelis | 1 November 2021

This lecture covers some of the most fundamental principles behind what makes digital platforms powerful business models. Aside from the economic forces of Network effects and economies of scale, we will cover the workings of two- and multi-sided platforms, the challenge of single- vs. multi-homing, and the role of switching costs in customer retention.

Lecture 2 - Designing Digital Platforms

Steve Tadelis | 2 November 2021

This lecture describes the main components of a variety of digital platform business models. In addition to spelling out the economic forces behind the most common business models, we will explore key components to revenue generation that include pricing, product versioning, marketplace fees, auctions and their role in the digital economy, and how big-Data can become an important strategic asset

Lecture 3 - Trust in Online Markets

Steve Tadelis | 4 November 2021

This lecture explores reviews and feedback mechanisms that play the role of fostering trust in online marketplaces. We will see how these systems often, if not always, include significant biases and strategies for removing bias from feedback and reputation systems are explored. We will also discuss the role of recommender systems in a variety of digital platforms.

Lecture 4 - Customer Acquisition, LTV and Advertising ROI

Steve Tadelis | 10 November 2021

This lecture describes the many challenges of implementing and measuring the success of growth strategies behind customer acquisition and retention. The most problematic aspects of measuring ROI on digital (or any) advertising efforts will be uncovered and tools to overcome these challenges will be presented.

Lecture 5 - Regulating the Digital Economy

Steve Tadelis | 11 November 2021

This last lecture discusses the way in which the ground is constantly shifting under the feet of digital platforms with the increasing amount of scrutiny that regulators across all continents are focusing on the so-called “big tech” companies. We will briefly explore the economic analyses of the pros and cons of net neutrality, how regulators are trying to apply and modify competition policy in platform markets, and the pressing issues around data privacy and ownership._