The Cost of Developers

Microsoft paid a lot for GitHub, because it had to pay directly for access to developers. It doesn’t have the leverage of users the way that Apple does on the App Store.

Sports Gambling Defederalized, Amazon Channels

Sports gambling is defederalized, and the opportunity is likely larger than people think: then, Amazon Channels is another manifestation of the company’s “first customer” strategy.

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.