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He forgot to turn off the heat when cooking, and accidentally boiled out black soup", which brought hundreds of billions of wealth to his children and grandchildren many years later
In the tide of China's Internet entrepreneurship, we have witnessed countless stories of ordinary people creating extraordinary careers. From Tao Huabi's "Lao Gan Ma" to Lee Kum Sheong's "Lee Kum Kee", these brands have not only changed the fate of the founder, but also profoundly influenced the development of the entire industry. Today, let's re-examine the business logic behind these legendary stories from the perspective of the platform economy.
The success of Tao Huabi and Lee Kum Sheung is essentially due to their keen grasp of market demand and the establishment of a strong brand effect through continuous product innovation and quality management. The same model applies to today's internet platforms. Taking Meituan as an example, its success lies in accurately grasping the opportunities in the O2O market, and building a life service platform covering catering, takeaway, hotels and other fields through continuously optimized algorithms and services. According to Meituan's 2022 financial report, the number of its annual trading users reached 690 million, with an average daily transaction volume of more than 40 million. Behind these data, it is a typical embodiment of the "network effect" in the platform economy - the larger the user scale, the higher the value of the platform, which in turn attracts more users and merchants to join, forming a virtuous circle.
However, the development of the platform economy has also brought many social impacts. On the one hand, it greatly improves the efficiency of resource allocation and brings unprecedented convenience to consumers. On the other hand, the monopoly position of the platform has also caused many controversies. Taking the food delivery platform as an example, although it has injected new vitality into the catering industry, it has also been criticized for its high commissions and algorithmic discrimination. According to a survey by the State Administration for Market Regulation, more than 21% of food delivery riders earned less than 5,000 yuan a month in 2020. This phenomenon has sparked a wide discussion on the responsibility of platforms, prompting the government to introduce a series of regulatory policies.
In this fast-changing industry, little-known insiders and contradictions are emerging. One prominent problem is data monopolies. By collecting and analyzing massive amounts of user data, large platforms can not only pinpoint user needs, but also predict market trends, which poses a huge challenge for new entrants. According to China Informatization Weekly, China's top 10 internet companies in 2021 had more than 80% of their user data. This data divide is exacerbating the Matthew effect in the industry, making the "winner-takes-all" situation more apparent. Another contradiction that deserves attention is the conflict of interest between platforms and merchants. Taking e-commerce platforms as an example, on the one hand, the platform needs high-quality merchants to attract users, and on the other hand, it directly competes with merchants through its own business. This dual identity has led to many controversies, such as unfair competition behaviors such as "either-or".
Looking ahead, the platform economy will face a more complex development environment. With the strengthening of regulation and the improvement of user privacy awareness, big data-driven business models will face challenges. At the same time, the application of new technologies such as artificial intelligence and blockchain may reshape the operating logic of the platform. I predict that the future of platform competition will focus more on user experience and social responsibility, rather than just scale expansion. Platforms that can find a balance between efficiency, fairness, and innovation will stand out in the next round of competition.
In this era full of opportunities and challenges, we can't help but ask: how can emerging companies achieve innovation and breakthroughs in a market dominated by giants? Do you think it is possible for traditional brands such as "Lao Gan Ma" and "Lee Kum Kee" to break new ground in the platform economy through digital transformation? Readers are welcome to share their insights.
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