The Bill Gates Line

Understanding the differences between aggregators and platforms matters for companies interacting with them and also regulators considering antitrust.

The Moat Map

The Moat Map describes the correlation between the degree of supplier differentiation and the externalization (or internalization) of a company’s network effect.

Tech’s Two Philosophies

Google and Facebook represent one philosophy, and Microsoft and Apple represent another; tech needs both, but ultimately platforms are more important than aggregators.

Zillow, Aggregation, and Integration

Zillow fits the description of an aggregator, but it hasn’t transformed its industry due to a lack of integration. Now it is trying to do exactly that.

Could Spotify Be Netflix?, Calculating Spotify’s LTV and CAC

Spotify is in a much weaker position that Netflix was, because it could not build up a user base before negotiating with its suppliers. However, the company does seem to be acquiring customers efficiently.

The Aggregator Paradox

Google is winning with AMP and blocking ads in Chrome: both seem bad, but aren’t they actually good for consumers? That is the paradox of aggregation.