Marketplaces have built so many of the great businesses of the last 30 years. 

Now’s a particularly interesting time to study them, we’ve got: 

1. Questions on demand: Who owns attention in an agentic world? (i.e. ChatGPT booking hotels)

2. Question on supply: What happens if supply can be automated? (i.e. Waymo vs Uber)

3. Questions on economics: Will marketplaces achieve the long-expected profits of market dominance?

I wrote a deep dive on what made marketplaces successful in the last decade and what their futures might look like in the next (visualizing some of the largest ones below).

Hope you all enjoy!