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Wednesday, October 01, 2003
More price competition in the UK mobile market. See, this is what happens to platform industries consumed by the value extraction mindset. Especially when the platform coordinator refuse to provide the incentives necessary for platform coordination - like fair revenue splits to platform contributors, and cool (as opposed to deliberately manipulative) marketing to consumers.
i-Mode's chief strategist, Takeshi Natsuno, once famously referred to his strategy for i-Mode as based on a mental paradigm shift -'from telecom way of thinking to internet way of thinking'. I think what he meant was fundamentally about harnessing innovation to create real economic value for consumers, in order to earn what economists calll Schumpeterian rents - not about trying to manipulate consumers into paying you for something they won't value. Because if you focus on the latter, you end up in arms races of price competition.
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