In total, Amazon should have transacted $35 billion in GMV in 2007 -- roughly 1x its valuation. At the same valuation, Shopify today is transacting 74% more GMV than Amazon did in 2007. To be fair, Shopify converts far less of that GMV into gross profit dollars (1.4% vs. 9.7%), but it has shown the ability to grow its rake of GMV by offering... See more
One mental model for this condition is what I call ark head, as in Noah’s Ark. We’ve given up on the prospect of actually solving or managing most of the snowballing global problems and crises we’re hurtling towards. Or even meaningfully comprehending the gestalt. We’ve accepted that some large fraction of those problems will go unsolved and... See more
The goal of the metaverse is not to build technology for people to interact with; but rather, build technology for people to interact with each otherSpatial audio and eye contact technology are just two features to drastically improve on current video meeting technology, for exampleEstablishing a presence is the most difficult problem