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There is a substantial case that blockchain and distributed ledgers represent an important innovation that will make the economy work better. What the ultimate wealth creation happens to be, I can’t pretend to judge. Fundamental innovations like the internet led to era-defining wealth creation. Fundamental innovations like alternating current were... See more

Instagram’s linear commerce strategy is the most efficient path to competing with the likes of Amazon, Alibaba, and the new crop of markets like Verishop. But to maintain that path, platforms like Instagram will have to keep its best content creators happy. Mosseri may have to redefine his platform’s rules and engineering strategies to do so. The... See more

Tonal CEO Aly Orady says that similar to smartphones, which were first thought of as luxury items, the math may make more sense once the price of a machine is spread out over a couple years. “The formula for this to work at home is the financing program,” he says.

The purpose of flex commerce is to establish one’s status as distinct and superior to others. Unlike other forms of commerce, it’s unrelated to the cost of goods and services, but to their intangible, symbolic value. In flex commerce, price is secondary. Primary are the cultural, social and environmental capital that a good or service carries.

But while in many ways more limited, the early web also provided a far more level playing field to its early settlers. As there were no “cities” yet per se, the most valuable virtual real estate hadn’t yet accreted to a small cabal of gatekeepers.