This means that for aggregators, customer acquisition costs decrease over time; marginal customers are attracted to the platform by virtue of the increasing number of suppliers. This further means that aggregators enjoy winner-take-all effects: since the value of an aggregator to end users is continually increasing it is exceedingly difficult for... See more
Given that a core part of the problem was that “nothing was getting done”, that meant starting at the very beginning: what is it that we’re trying to do? What were people’s expectations, ongoing projects, and wish lists?
Favorite quotes
1/ Every great creator is sharing their DNA and experiences with the world. Some spread it through art, some through music - but for me, it's through product.”
2/ Jay-Z bought a pair of construction Timberland boots from me every weekend. I got to see why these different... See more
Pretty much anything that can be done on a blockchain can be done in web2. Sure, you have to trust a centralized provider, but 99% of the time that’s fine. Society requires trust to function.
Square & Stripe productized this in merchant payments first; before they came along, most small businesses would get access to funds 5 - 7 days after processing a credit card payment. Square and Stripe gave you your money within a day or 2.