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titleLet's invoke a middle earth anology - one ring instead of dozens of rings

One Ring to rule them all,
One Ring to find them,
One Ring to bring them all and in the darkness bind them

https://www.facebook.com/officialtolkien/videos/one-ring-to-rule-them-all/500930807838083/

Okay I get that is a rather creepy analogy (smile) but it’s idea of ruling your (evil) empire with just one ring versus needing a whole bunch of (evil) rings.

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titleExplain it a technical wayAPI business model explained in technical terms

This is me explaining the idea using a video talking about an API which allows you to get quotes for insurance from many different endpoints. See www.briza.com for example.

73100377545__BE03BE8D-603A-4F6C-8D08-AF972676FEC2.mov

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titleLet's give some real life examples of offerings for this

Here are a couple of these API type products

The value proposition is quite similar

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titleCan it work? Core drivers - is the useful use case generalizable enough.

Good question.

Anything can work, it really depends on the use case, how well the team behind it has implemented the idea.

Electric cars as attempted early on by General Motors was not successful. The narrative from the environmental industry is the did it through deliberate malice. I always assume incompetence is a better narrative (see Narratives) - at least an inability to execute.

Part of the problem is this:

  • Is there a sufficiently large enough group of customers that have the same problem?

  • Can this problem be solved such the cost of implementing the solution is LESS THAN the money that group of customers will pay in aggregate to get the problem solved.

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titleWhere can it be difficult?

There can be problems if there the needs of customers diverge from what the API provider needs.

Say you needed to access a specific feature of Whatsapp and your single API to talk to all social media platforms doesn’t implement that feature?

If this is a bottleneck for the growth of your business then being stuck with the single API becomes a problem.

73100624748__7E1A3DF7-7195-4252-AC17-E38E6784FCAD.mov

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titleHow do you manage risk as a customer?

Going in with eyes wide open.

Recognize that a single API might get you faster to where you need to go initially, but be prepared to educate yourself to go beyond this type of solution to a more open system approach.

Iguana X for instance is a very open system - more effort to learn the system but then you have no bottleneck that you cannot resolve.

Also How do to assess a vendor/solution?.

See How do to assess a vendor/solution?.

Also - shameless plug. If you are trying to implement this business model then it’s worth considering partnering with us using Iguana X. We are quite a good solution for this. Redox is a nice approach of using this model in healthcare.