Arrow icon
Ness Labs: Make the most of your mind
Learn more about Joggo

A Summary of

Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth

Bill Gurley
Above The Crowd
View original

What internet marketplaces do

  • Internet marketplaces accelerate the benefits of division of labour and comparative advantage.
  • They increase the likelihood of a perfect match of goods and services.
  • They connect economic traders that would otherwise not be connected and unlock economic wealth.

Exchange of goods marketplaces

  • Ebay — Person-to-person trading site.
  • Taobao Marketplace — China's person-to-person trading site.
  • StubHub — Secondary ticket exchange marketplace.
  • Etsy — Vintage and handmade items exchange marketplace.
  • 1stdibs — Luxury items exchange marketplace.
  • Poshmark — Clothing exchange marketplace.
  • The Real Real — Online marketplace for authenticated luxury consignment.
  • GOAT — Marketplace for sneakers.

Sharing economy marketplaces

  • Airbnb — Home sharing marketplace.
  • Uber — Car sharing marketplace.
  • Rover – Dog sitting marketplace.

Exchange of labor marketplaces

  • Upwork — Global freelancing platform.
  • HackerOne — Marketplace that coordinates corporate "bug bounty" programs with a network of hackers.
  • Wyzant — Tutor marketplace.
  • Stitch Fix — Provider of personalized clothing services.
  • Swing Education — Marketplace for substitute teachers.
  • RigUp — Marketplace focused on the oilfield services industry.
  • VIPKid — Marketplace connecting Chinese students who want to learn English with native English speaking tutors.

New emerging marketplaces

  • Hipcamp — Land sharing marketplace with a focus on camping.
  • Instawork — Staffing app for gig workers and hospitality businesses.

Benefits of global internet marketplaces

  • Increase wealth distribution.
  • Unlock wasted potential of assets.
  • Better match of specific workers with specific opportunities.
  • Make specific assets reachable and findable.
  • Allow for increased specialization.
  • Enhance supplemental labor opportunities, where the worker is in control of when and where they work.
  • Reduces forfeiture by enhancing utilization.
Related content
See all posts
Arrow icon