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Keynote Presentation
Lay-of-the-Land for 21st Century
Business Models:
Hierarchies, Platforms, Crypto Networks
Boston, MA
June 2018
Vince Kuraitis JD, MBA
Principal and Founder, Better Health Technologies
vincek@bhtinfo.com
@VinceKuraitis
1
A personal story
2
Overview
I. Introducing “The De/Centralization
Continuum”
II. The Decentralization Megatrend
III. A Bit Deeper Into “The De/Centralization
Continuum”
IV. Eight Implications
3
4
I. Introducing
“The De/Centralization
Continuum”
Business Model & Network Design Options
“The De/Centralization Continuum”
Business Model & Network Design Options
Centralized Decentralized
5
“The De/Centralization Continuum”
Business Model & Network Design Options
Industrial Era
Hierarchies
Web 2.0
Platforms
Web 3.0
Crypto
Networks
Centralized Decentralized
Hybrids Hybrids
6
Graphical Depictions
“The De/Centralization Continuum”
Centralized Decentralized
Platform
CEO
Industrial Era
Hierarchies
Web 2.0
Platforms
Web 3.0
Crypto
Networks
7
8
II. The Decentralization
Megatrend:
What is it?
Why is it a big deal?
“Decentralization”
Many Definitions & Meanings
• As applied to biz models:
“Distribution of power,
influence, value capture”
• What it’s not:
– Not just virtual care or geographic decentralization
– Not just “one” source of centralization
9
I. The Decentralization Megatrend, e.g.,
• “Techlash” against platform giants, e.g., Facebook
• Addressing concentration of wealth (1% vs. 99%)
• Cryptocurrencies without government backing
• Banking w/o banks
• Energy w/o utility companies
• …
10
Centralized Decentralized
Centralized Decentralized
Healthcare is Highly Centralized
• Examples:
– Fee-for-service payments drive activity
– Patient data not shared; viewed as proprietary asset
– Increasing consolidation
– Increasing % of employed physicians
– Price/quality opaqueness
– Culture, professional societies
– Local providers as customary default choice
– …
• What would a more decentralized healthcare system look
like?
11
x
Industry Megatrends Drive
Decentralization in Healthcare
1. From volume to value
2. Digitization and IT interop
3. Democratization/consumerization of healthcare &
data
12
Centralized Decentralized
13
III. A Bit Deeper Into
“The De/Centralization
Continuum”
Ridesharing Reimagined
Centralized Decentralized
Own, control &
operate
everything
A software
platform to
connect drivers
& riders + a
“take no
prisoners
company
culture”
A kinder,
gentler version
of Uber –
governance
respects a
community
focus
Local driver
cooperatives
enabled by a
software
platform
“A P2P mobility
service enabling
trustless
collaboration
powered by
blockchain”
14
How/Where Is Value Created?
“The De/Centralization Continuum”
Centralized Decentralized
Platform
Industrial Era
Hierarchies
Web 2.0
Platforms
Web 3.0
Crypto
Networks
15
Characterizing Crypto Networks
• Key components
(Outlier Ventures)
– Open source
– Distributed
– Decentralized
– Automated
– Tokenized
• Enabling technologies
– Blockchain
– AI
– 3D printing
– Cloud
– IoT
– …
16
Defining Characteristics:
Hierarchies, Platforms, Crypto Networks
17
Centralized Decentralized
Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks
Mindset Command and control Orchestration Collaboration; empower individuals &
communities
Core Assets Ownership of financial & physical capital,
employees, IP, brand…
User networks, proprietary platform software Data
Strategic Focus Products/services Ecosystems New economies
Value creation by co. P2P and through platform capabilities P2P
Value capture by co. by platform P2P
Business Strategy Knowledge &
Empiricism
Well established--100+ years of evolution Moderately-well established--20 years of
evolutoin
Nascent
Use of blockchain tech? Technically possible but advantage over
other tech is unclear
Yes. Focus on tactical advantages, cost,
efficieny
Yes. Strategic, disruptive.
Governance by co. platform rules P2P, communities; emerging
Reputation Brand curation, rating systems, data P2P
Security vulnerable central point of control vulnerable central point of control blockchain, consensus
Privacy
Regulatory Frameworks Well established "Techlash" just beginning in U.S.; EU
enacted GDPR regs effective 5/18
Largely non-existant
User data Proprietary to co.s Proprietary to platforms Controlled by users
TRADEOFFS
Control Highest Lowest/none
Network effects Lowest Highest
Coordination/Orchestration Highest
120+ Healthcare ICOs in the Works
18
Source: a public, editable Google sheet created and curated by Vince Kuraitis at https://bit.ly/2HGaByR
"Crypto networks will be the
organizing mechanism and
economic model of the next
generation internet"
– Ali Yahya, VC at @a16z
19
20
IV. Eight Implications
A) Anticipate a Full Spectrum of Business
Model Options for the Foreseeable Future
Centralized Decentralized
Platform
CEO
Industrial Era
Hierarchies
Web 2.0
Platforms
Web 3.0
Crypto
Networks
21
1) Throughout history, centralization and
decentralization have been CYCLICAL
B) What’s The Long-View on Centralization vs.
Decentralization?
22
2 Schools of Thought:
Centralized Decentralized
2) This time is different:
• Decentralization will be PERMANENT.
• New technologies break past cycles.
23
Decentralized
C) Welcome to a New, Complex World of
Business Models and Strategy
• Crypto networks as uncharted design spaces
• Many new rules are counterintuitive
24
Many Strategies Change 180
o
• Industrial Era Strategy:
– Dominate markets through supply-side
economies of scale
• Digital Strategy:
– Maximize demand-side economies of scale
(network effects)
– Dominate markets by orchestrating networks &
ecosystems
25
D) Anticipate Healthcare
“RE-Centralization”
26
Centralized Decentralized
?
E) To Healthcare Incumbents: “You MUST
decentralize your business model”
27
X
YOU
YOUR COMPETITORS
Centralized Decentralized
• Add platform components incrementally
• Doesn’t require abandoning existing (hierarchical)
business model
• Less of a cultural leap
• Lower risk – 20 years of platform learning
F) For Most Incumbents, Decentralization via
Platforms Will Make More Sense
28
Centralized Decentralized
G) Most Blockchains Will Function as
Platforms – Understand the Terminology
• Network effects
(positive & negative)
• Growth hacking
• Adjacency strategies
• Winner-take-all dynamics
• Minimum viable platform
• Core transaction
• Chicken/egg dilemma
• Platform Thinking
• Multi-homing vs. single-homing
• Value creation at the edge of the network
• Value creation vs. value capture
• Identify & control strategic chokepoints
• Supply-side vs. demand-side economies of scale
• Platform monetization
• Governance models
• Platform metrics
• ...many more
29
H) OPTIMIZE Centralization vs.
Decentralization
• Reframing:
– FROM: Maximizing decentralization
– TO: Optimizing centralization vs.
decentralization
30
Centralized Decentralized
xx
31
END

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Lay-of-the-Land for 21st Century Business Models: Hierarchies, Platforms, Crypto Networks

  • 1. Keynote Presentation Lay-of-the-Land for 21st Century Business Models: Hierarchies, Platforms, Crypto Networks Boston, MA June 2018 Vince Kuraitis JD, MBA Principal and Founder, Better Health Technologies vincek@bhtinfo.com @VinceKuraitis 1
  • 3. Overview I. Introducing “The De/Centralization Continuum” II. The Decentralization Megatrend III. A Bit Deeper Into “The De/Centralization Continuum” IV. Eight Implications 3
  • 5. “The De/Centralization Continuum” Business Model & Network Design Options Centralized Decentralized 5
  • 6. “The De/Centralization Continuum” Business Model & Network Design Options Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks Centralized Decentralized Hybrids Hybrids 6
  • 7. Graphical Depictions “The De/Centralization Continuum” Centralized Decentralized Platform CEO Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks 7
  • 8. 8 II. The Decentralization Megatrend: What is it? Why is it a big deal?
  • 9. “Decentralization” Many Definitions & Meanings • As applied to biz models: “Distribution of power, influence, value capture” • What it’s not: – Not just virtual care or geographic decentralization – Not just “one” source of centralization 9
  • 10. I. The Decentralization Megatrend, e.g., • “Techlash” against platform giants, e.g., Facebook • Addressing concentration of wealth (1% vs. 99%) • Cryptocurrencies without government backing • Banking w/o banks • Energy w/o utility companies • … 10 Centralized Decentralized
  • 11. Centralized Decentralized Healthcare is Highly Centralized • Examples: – Fee-for-service payments drive activity – Patient data not shared; viewed as proprietary asset – Increasing consolidation – Increasing % of employed physicians – Price/quality opaqueness – Culture, professional societies – Local providers as customary default choice – … • What would a more decentralized healthcare system look like? 11 x
  • 12. Industry Megatrends Drive Decentralization in Healthcare 1. From volume to value 2. Digitization and IT interop 3. Democratization/consumerization of healthcare & data 12 Centralized Decentralized
  • 13. 13 III. A Bit Deeper Into “The De/Centralization Continuum”
  • 14. Ridesharing Reimagined Centralized Decentralized Own, control & operate everything A software platform to connect drivers & riders + a “take no prisoners company culture” A kinder, gentler version of Uber – governance respects a community focus Local driver cooperatives enabled by a software platform “A P2P mobility service enabling trustless collaboration powered by blockchain” 14
  • 15. How/Where Is Value Created? “The De/Centralization Continuum” Centralized Decentralized Platform Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks 15
  • 16. Characterizing Crypto Networks • Key components (Outlier Ventures) – Open source – Distributed – Decentralized – Automated – Tokenized • Enabling technologies – Blockchain – AI – 3D printing – Cloud – IoT – … 16
  • 17. Defining Characteristics: Hierarchies, Platforms, Crypto Networks 17 Centralized Decentralized Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks Mindset Command and control Orchestration Collaboration; empower individuals & communities Core Assets Ownership of financial & physical capital, employees, IP, brand… User networks, proprietary platform software Data Strategic Focus Products/services Ecosystems New economies Value creation by co. P2P and through platform capabilities P2P Value capture by co. by platform P2P Business Strategy Knowledge & Empiricism Well established--100+ years of evolution Moderately-well established--20 years of evolutoin Nascent Use of blockchain tech? Technically possible but advantage over other tech is unclear Yes. Focus on tactical advantages, cost, efficieny Yes. Strategic, disruptive. Governance by co. platform rules P2P, communities; emerging Reputation Brand curation, rating systems, data P2P Security vulnerable central point of control vulnerable central point of control blockchain, consensus Privacy Regulatory Frameworks Well established "Techlash" just beginning in U.S.; EU enacted GDPR regs effective 5/18 Largely non-existant User data Proprietary to co.s Proprietary to platforms Controlled by users TRADEOFFS Control Highest Lowest/none Network effects Lowest Highest Coordination/Orchestration Highest
  • 18. 120+ Healthcare ICOs in the Works 18 Source: a public, editable Google sheet created and curated by Vince Kuraitis at https://bit.ly/2HGaByR
  • 19. "Crypto networks will be the organizing mechanism and economic model of the next generation internet" – Ali Yahya, VC at @a16z 19
  • 21. A) Anticipate a Full Spectrum of Business Model Options for the Foreseeable Future Centralized Decentralized Platform CEO Industrial Era Hierarchies Web 2.0 Platforms Web 3.0 Crypto Networks 21
  • 22. 1) Throughout history, centralization and decentralization have been CYCLICAL B) What’s The Long-View on Centralization vs. Decentralization? 22 2 Schools of Thought: Centralized Decentralized
  • 23. 2) This time is different: • Decentralization will be PERMANENT. • New technologies break past cycles. 23 Decentralized
  • 24. C) Welcome to a New, Complex World of Business Models and Strategy • Crypto networks as uncharted design spaces • Many new rules are counterintuitive 24
  • 25. Many Strategies Change 180 o • Industrial Era Strategy: – Dominate markets through supply-side economies of scale • Digital Strategy: – Maximize demand-side economies of scale (network effects) – Dominate markets by orchestrating networks & ecosystems 25
  • 27. E) To Healthcare Incumbents: “You MUST decentralize your business model” 27 X YOU YOUR COMPETITORS Centralized Decentralized
  • 28. • Add platform components incrementally • Doesn’t require abandoning existing (hierarchical) business model • Less of a cultural leap • Lower risk – 20 years of platform learning F) For Most Incumbents, Decentralization via Platforms Will Make More Sense 28 Centralized Decentralized
  • 29. G) Most Blockchains Will Function as Platforms – Understand the Terminology • Network effects (positive & negative) • Growth hacking • Adjacency strategies • Winner-take-all dynamics • Minimum viable platform • Core transaction • Chicken/egg dilemma • Platform Thinking • Multi-homing vs. single-homing • Value creation at the edge of the network • Value creation vs. value capture • Identify & control strategic chokepoints • Supply-side vs. demand-side economies of scale • Platform monetization • Governance models • Platform metrics • ...many more 29
  • 30. H) OPTIMIZE Centralization vs. Decentralization • Reframing: – FROM: Maximizing decentralization – TO: Optimizing centralization vs. decentralization 30 Centralized Decentralized xx