Platforms beat pipelines because platforms scale more efficiently by eliminating gatekeepers. Until recently, most businesses were built around products, which were designed and made at one end of the pipeline and delivered to consumers at the other end.* Today, plenty of pipeline-based businesses still existbut when platform-based businesses enter the same marketplace, the platforms virtually always win.

One reason is that pipelines rely on inefficient gatekeepers to manage the flow of value from the producer to the consumer. In the traditional publishing industry, editors select a few books and authors from among the thousands offered to them and hope the ones they choose will prove to be popular. It's a time-consuming, labor-intensive process based mainly on instinct and guesswork. By contrast, Amazon's Kindle platform allows anyone to publish a book, relying on real-time consumer feedback to determine which books will succeed and which will fail. The platform system can grow to scale more rapidly and efficiently because the traditional gatekeeperseditorsare replaced by market signals provided automatically by the entire community of readers. Can you explain how paypal beat raditional banking in term of "Platforms beat pipelines because platforms scale more efficiently by eliminating gatekeepers". With the references