sari

However, the partnership suffers from the multi-channel fallacy, the assumption that adding more channels increases sales. It does not, at least not meaningfully. Naively while a product can be copied to Amazon, eBay, Walmart, and elsewhere and thus should be discoverable by customers there, a mere act of adding products doesn’t create liquidity. E... See more

In particular, focusing on product/market fit before community may handicap you from building a fiercely loyal community, even once you have “exited” to it. An underappreciated consequence of this is that you may be forced to rely on copyright as a moat in order to continue accruing value.

“[Twitch] solves the original sin of the internet, which is having an advertising-based system…We decided to go with banner ads over paying each other online” – Andrew Chen

-Community makes its own rules: wikis have no formal rules beyond actions the community carries out.

The brand is built on the value of inclusivity: being cool is not about being in the know but about having open conversations, not about what you own but how you feel. And the Madhappy brand extends well beyond apparel to represent a lifestyle that is accessible, attainable, and relatable.

Many aspects of the industry will likely move to digital formats but the need for physical interaction for the “last mile” may become even more important, even if it becomes a smaller venue where this happens.