Aggregation Theory
Aggregation Theory provides a framework to understand the impact of the Internet on nearly all industries.
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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.
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Facebook is in trouble — again — for Russian ads about the election; figuring out how to deal with them requires first understanding that Facebook, like Google, is a Super-Aggregator. It faces zero transaction costs…
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An apolitical analysis of what is happening in U.S. politics through the lens of Aggregation Theory
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The FANG companies — Facebook, Amazon, Netflix, and Google — are far more similar than you might think. Their rise in value is no accident, and it is connected to Aggregation Theory.
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The disruption caused by the Internet in industry after industry has a common theoretical basis described by Aggregation Theory.
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Netflix Earnings; Netflix and Gaming; Models, Not Mediums
Netflix turned in another quarter of disappointing earnings (as expected); the company’s planned foray into gaming, meanwhile, highlights how digital businesses are different.
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Philosophy and Power; Advertising, Targeting, and Tracking; The Real Winners
Advertising is on the verge of substantial changes, which will primarily benefit Apple and Google. Is it worth the tradeoff?
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Shopify Lowers Developer Fees, Scaling Digital Suppliers, The Power of App Stores
Shopify is lowering fees for developers, which makes sense given it is operating an app store, the Internet’s most powerful business model.
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The Lightness of Windows
The Windows 11 announcement was fun and interesting, but there is a reason that Windows is no longer the center of Microsoft’s business.
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Amazon Buys MGM, The Streaming Opportunity, Anti-Monopoly vs. Antitrust
Amazon’s purchase of MGM makes sense strategically, but also points to bigger ambitions; it also highlights how a lot of antitrust talk is actually anti-monopoly.
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Distribution and Demand
Distribution on the Internet is free; what matters is controlling demand. AT&T and Verizon didn’t understand the distinction.
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Fearing Spotify?, Apple’s Earnings, Margins and Chips
Why I’m not worried about Spotify, plus Apple’s earnings, including why the M1 might be helping margins.