- API-driven architecture is maturing as a paradigm and enabling more communication between applications across value chains.

- Software development is getting easier, cheaper, and faster in general.

- They instill trust.

- They are expensive and hard-to-use

- Millennials are taking the reins in legacy industries and hate clunky, offline workflows.

- They’re often vertical-specific.

- Integrated payments and lending are unlocking new business models for software companies and vastly improving the user experience.

- They focus on “day 1” value.

- Effective take rate: What percentage of GMV can the marketplace capture as net revenue?