back with a “5 minute Friday” audio edition key concepts I cover in this snippet: double click into extensibility platforms marketplaces as a special case of extensibility the key constructs in a successful marketplace UFAs as an initial method to bootstrap supply
Great one. You tend to see very localized marketplaces, that might not scale, and digital ones that can (with help from network effects). As David Phelps wrote in Three Quarks re the famous Craigslist unbundling graphic: "...the image is a combination of semi-failures and companies battling competitors for market share, even frequently against Craigslist itself, which continues to rake in at least half a billion dollars a year. Craigslist wasn’t really unbundled into verticalized platforms. Instead, it was forced to compete on an increasingly splintered playing field with a multitude of half-satisfactory options. Even despite itself, what the diagram really shows us is not the victors of the past decade, but how rare winner-take-all marketplaces truly are." https://davidphelps.substack.com/p/the-promised-land-of-the-singing
Great one. You tend to see very localized marketplaces, that might not scale, and digital ones that can (with help from network effects). As David Phelps wrote in Three Quarks re the famous Craigslist unbundling graphic: "...the image is a combination of semi-failures and companies battling competitors for market share, even frequently against Craigslist itself, which continues to rake in at least half a billion dollars a year. Craigslist wasn’t really unbundled into verticalized platforms. Instead, it was forced to compete on an increasingly splintered playing field with a multitude of half-satisfactory options. Even despite itself, what the diagram really shows us is not the victors of the past decade, but how rare winner-take-all marketplaces truly are." https://davidphelps.substack.com/p/the-promised-land-of-the-singing