Despite their social media prowess, the Kardashians still needed a TV show to jumpstart their fame. Charli D’Amelio only needed a smartphone and the TikTok app.
Most professions exist because there is a scarce resource that requires ongoing management : librarians are responsible for organizing books on the shelves, newspaper execs are responsible for deciding what goes on the front page. The scarcity of the resource itself creates the need for a professional class.
Web2 platforms encourage open market competition in production by reducing search costs for consumers, commoditizing distribution for producers and encouraging price transparency. This leads to open market competition among producers to a marketplace and the best producers bubble to the top of search results, and benefit from market exposure.
5. Effective executives, finally, make effective decisions. They know that this is, above all, a matter of system— of the right steps in the right sequence.