PLAT: Growth Exposure through a Dominant Business Model
Technology continues to transform all segments of the economy. Platform-based businesses have gained market share at the expense of many traditional, linear businesses via their superior scale economics and long-term profitability potential. In our view, this platform concept is a primary driver of the success of the largest technology companies and most dominant companies – the five largest U.S. companies by market-cap (Apple1, Microsoft, Amazon, Alphabet and Facebook) are all platforms.