For the rest of us, an “API” is an application programming interface”. And of course, that doesn’t help us much. But perhaps a simple explanation of what an API can do might explains things better.
For example the NYT could install an API in its article data base that would allow anyone to search back and instantly dig up alll news going back to whenever on whatever. Suddenly, NYT would be competing with Wikipedia and Google as a platform, rather than just selling fresh news (like fresh fish — that goes rotten quickly). BTW, as Giga reports, the NYT just did this.
Interesting — and empowering. So …. is your business also a platform? Why not?