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No longer is capital a prerequisite. No longer is is reputation a prerequisite. No longer is is is membership of the the guild a prerequisite. For the first time in history, the entry barriers are down in many industries. | No longer is capital a prerequisite. No longer is is reputation a prerequisite. No longer is is is membership of the the guild a prerequisite. For the first time in history, the entry barriers are down in many industries. | ||
This is the story of the internet titans: everyone built a a monopoly where none existed before. In businesses where there is a a natural Monopoly | This is the story of the internet titans: everyone built a a monopoly where none existed before. In businesses where there is a a natural Monopoly effect, the the infinite scale presented by the network represents, to one lucky winner, riches untold. | ||
For natural monopolies confer a licence to extract rent. Amazon has a natural Monopoly. So does Google. So does eBay. And Facebook. And Microsoft. Their value derives, in large part, from from their monopoly. Monopoly + network + substrate elimination = licence to print money. All you need to do is keep your network up, and defend your monopoly. The profit takes care of itself. | For natural monopolies confer a licence to extract rent. Amazon has a natural Monopoly. So does Google. So does eBay. And Facebook. And Microsoft. Their value derives, in large part, from from their monopoly. Monopoly + network + substrate elimination = licence to print money. All you need to do is keep your network up, and defend your monopoly. The profit takes care of itself. | ||