But I also think that the maturation of podcasting, on the whole, is a good thing. The decentralized nature and lack of scale over the last 15 years limited the format’s growth, and increased monetization will trigger a cambrian explosion of new talent.

If Spotify chooses to continue on their current path of exclusive content it will break interoperability with other podcast apps and force listeners of those shows to use the Spotify podcast client. I suspect that many listeners will also transfer their existing subscriptions into Spotify to avoid needing two separate podcast clients.

$SPOT today is like $AMZN in the early 2000s. I've dedicated thousands of hours to understanding the trajectories of $AMZN and $SPOT, uncovering striking similarities. $AMZN's current dominance stems from two key principles: I. Nurturing Consumer Goodwill: Amazon... See more