Nick Johnson's profile on Product Hunt

Nick Johnson

Applico

#27402@nlj_1applicoinc.com

Activity 1 Made 193 Following 177 Followers

Joined on July 10th, 2014

Followed Topics

GIFs, Prototyping, Growth Hacking

16 points

Comments

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@therealsjr same problem

on Bitmoji Chrome Extension

4yr ago

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@domjespo Thanks for the question Dominic. Bots are definitely a big trend right now (though Greg brings up a big point re: the precise definition). While apps have been the technology of choice for platforms for the last 6 years, that won't be true forever. One of the big themes in the book is the impact of technological change on these modern monopolies. Just as the shift from desktop to mobile saw Microsoft superseded by Apple and Google as the dominant platform companies, the emergence of new paradigms for user interaction could definitely change the landscape of platforms. The same will be true as VR and AR become more mainstream. Still, while the mode of interaction will change (it's not truly "without interfaces", it's just that chat or voice/speech becomes the interface), platforms will stay the dominant business model. Just look at the places where bots are thriving (Facebook Messenger, Slack, etc.) – mostly platform companies.

on Modern Monopolies

4yr ago

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@xgarland Great question X. 1. Keep the core transaction simple. Don't look at Facebook, Alibaba, Apple or Uber and assume you should be doing everything they do today. As we write in the book, these platforms all started with one core transaction and only expanded to secondary transactions once the initial one had scaled. Building a network around one interaction is hard enough – building around 2 or more to start is next to impossible and will dilute your network effects. 2. Have a strategy for overcoming the chicken and egg problem. While modern monopolies like Facebook, Uber, Alibaba and Snapchat are all incredible companies, most platform businesses fail. And the biggest reason they fail is that they fail to overcome the chicken and egg problem. You need to get both consumers and producers to join your network, yet neither wants to join if you don't have the other user group. In chapter 8 of the book we lay out the 7 key strategies for overcoming this challenge. Before you launch, know which of these strategies you're going to use and why. Understand how you're going to subsidize value for your first users to get your network kickstarted, and why these subsidies (not always just money!) will get users to want to join. 3. Don't believe "if you build it, they will come." Get to market and be ready to adapt. Technology is what drives the success of modern platform companies, but technology alone is not enough, nor will it take you to modern monopoly status. Don't make the mistake of building incredibly sophisticated technology or what you think is a beautiful and intuitive UX without getting it into the hands of users first. The real value is in the network, not the software. Platforms provide value to users by facilitating transactions. Make sure that's your focus. Have a network roadmap – charting out how you want to start with your initial userbase and how you plan to expand from there – as well as a product roadmap. To borrow a quote from Peter Thiel that we use in the book, "user sequencing is underrated." Don't be like Color, and throw a $41 million dollar party that no one attends. (See here for more on that!: https://twitter.com/Applico/status/737374536056852480)

4yr ago

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