the duality of value: an introduction to two-sided markets and indirect network effects
價值的兩面性：雙邊市場和間接網路效應簡介。
imagine a bustling marketplace, with buyers on one side and sellers on the other, searching for each other to facilitate transactions.
想象乙個熙熙攘攘的集市，一邊是買家，另一邊是賣家，互相尋找並達成交易。
this is the essence of a two-sided market, where platforms act as matchmakers, connecting buyers and sellers, and creating value in the process.
這就是雙邊市場的本質，平台充當媒人，連線買家和賣家，創造價值。
but what drives this match***
但是什麼推動了這場比賽？
the answer lies in indirect network effects, a powerful force that shapes the success (and challenges) of such platforms.
答案是間接網路效應，這是塑造這些平台成功（和挑戰）的強大力量。
in a traditional market, the more users, the better. however, two-sided markets take this to the next level.
在傳統市場，使用者越多越好。 但雙邊市場甚至更好。
their magic lies in the interdependence between the user groups.
它的魔力在於使用者群體的相互依存。
as one side grows, it attracts more users from the other side, creating a virtuous cycle.
當一方的使用者數量增加時，會吸引另一方的使用者，形成良性迴圈。
take ride-hailing apps like didi dache for example. as the number of riders increases, more drivers are incentivized to join the platform, leading to faster pickups for riders, which in turn attracts even more riders. this is the power of indirect network effects in action.
以滴滴計程車等叫車應用為例。 隨著騎手數量的增加，更多的司機被激勵加入，從而更快地接受訂單，從而吸引更多的騎手。 這就是間接網路效應的力量。
for platforms, possessing indirect network effects is like h**ing a golden ticket. these markets enjoy several unique advantages:
對於平台來說，間接的網路效應就像擁有一張金子做的票。 這些市場具有許多獨特的優勢：
value amplification: as each side grows, the platform becomes more valuable for both, creating a snowball effect of user acquisition and engagement.
價值提公升：雙方使用者越多，平台對雙方的價值就越大，從而產生使用者獲取和使用者粘性的滾雪球效應。
high barriers to entry：the network effect itself acts as a barrier, *it difficult for competitors to replicate the platform's success.
進入門檻高：網路效應本身就是進入壁壘，使競爭對手難以輕鬆效仿平台的成功。
high market share potential: first-movers can leverage the network effect to quickly capture a dominant market share, *it challenging for latecomers to catch up.
高市場占有率：先行者可以利用網路效應迅速佔據市場份額，讓後來者難以跟上。
however, indirect network effects are not without their challenges:
然而，間接網路效應並非沒有挑戰：
the chicken-and-egg dilemma: attracting both sides simultaneously can be a difficult task, requiring clever operational strategies from the platform.
先有雞還是先有蛋：同時吸引兩邊使用者並不容易，平台需要巧妙的運營策略。
balancing act: platforms need to find a delicate balance in pricing and incentives to maintain equilibrium and growth on both sides.
平衡兩端：平台需要在定價和激勵措施之間找到乙個微妙的平衡點，以保持雙方使用者的滿意度。
regulatory scrutiny: dominant platforms may face increased scrutiny from regulators due to their potential to stifle competition.
監管審查：佔主導地位的平台可能會面臨監管機構的更嚴格審查，因為它們有可能扼殺競爭。
let’s take a look at some familiar examples from:
讓我們來看看一些熟悉的例子：
e-commerce platforms: connecting buyers and sellers (taobao, jd.com, pinduoduo)
電商平台：連線買家和賣家（JD.com、拼多多）。
social media: connecting users and content creators (wechat, weibo, douyin, baijiahao)
社交**：連線使用者和內容創作者（微信、微博、抖音、百家豪）。
transportation platforms: connecting passengers and drivers (didi chuxing, gaode taxi)
移動平台：連線乘客和司機（滴滴出行、高德計程車）。
food delivery platforms: connecting users and merchants (meituan, ele.me)
外賣平台：連線使用者和商家（美團，Ele.me）。
like a double-edged sword, two-sided markets offer both advantages and challenges.
雙面市場就像一把雙刃劍，既有優勢也有挑戰。
platforms are constantly exploring ways to harness indirect network effects to create value while n**igating the inherent challenges to achieve sustainable growth.
該平台不斷探索利用間接網路效應創造價值的方法，同時應對挑戰並努力實現可持續發展。
only by fully understanding the needs of both sides and finding the right balance can platforms succeed in this dynamic marketplace.
只有了解雙方的需求並找到平衡點，我們才能在這個充滿活力的市場中取得成功。