"All parts of our economy were previously based on scarcity. In almost every case, that scarcity has disappeared. The way you win on the internet is to be the starting place where people go - Google, Facebook, these aggregators - or you're highly differentiated and you leverage the fact that you have zero distribution to reach anyone."

What followed was probably my first clear articulation of Aggregation Theory, albeit without the name. The point about effectively infinite competition, though, is a critical one. Neither reach nor timeliness were differentiators, but rather commodities; the companies that dominated on the Internet were those — Google and Facebook in particular —... See more

Sovereignty

The essential challenge for publishers now is how to establish sovereignty

Just like countries, publishers have different levels of sovereignty. Countries like the United States and China have a high degree of sovereignty. A small country like, say, Belgium voluntarily gives up large chunks of sovereignty for practical reasons.

For a... See more