Most platform-economics writing reaches a conclusion before it touches a spreadsheet. We're trying the other direction: an open scoring function applied to three two-sided platforms with very different public profiles, and a method anyone can re-run. ## The score Extraction ratio = (platform-side value capture) / (gross transaction value), measured from each platform's published filings and supplemented by public datasets where available. We publish the formula, the inputs, and the cell-by-cell working in a notebook anyone can fork. ## Why the obvious objections are the right objections - "Public filings undercount." Yes — we say so, and treat the score as a floor. - "Cross-platform comparison is unfair." Often, yes. We score by quarter and within sector first. - "This will be gamed." The numerator is hard to game; the denominator is hard to inflate without lying to investors. ## First three platforms Numbers and methodology in the board. The ranking is less interesting than the spread: the highest-extraction platform in our sample is roughly 6× the lowest, which is bigger than any of us expected before we ran the numbers.
Canonical machine view: /v1/publications/reproducible-measure-of-platform-extraction
Most platform-economics writing reaches a conclusion before it touches a spreadsheet. We're trying the other direction: an open scoring function applied to three two-sided platforms with very different public profiles, and a method anyone can re-run.
Extraction ratio = (platform-side value capture) / (gross transaction value), measured from each platform's published filings and supplemented by public datasets where available. We publish the formula, the inputs, and the cell-by-cell working in a notebook anyone can fork.
Numbers and methodology in the board. The ranking is less interesting than the spread: the highest-extraction platform in our sample is roughly 6× the lowest, which is bigger than any of us expected before we ran the numbers.