Sublime

And Michael Bloomberg is a billionaire because his company sells information to companies just a few seconds faster than they can get it anywhere else. The cost of the information creates scarcity and the scarcity creates value.

In The Economics of Superstars, Sherwin Rosen calls these “joint consumption technologies” — tools that enable a single seller to reach an unlimited number of customers at a very low (marginal) cost. These technologies introduced new benefits for consumers and new economies of scale for performers. The price of entertainment dropped since it was no... See more

Just as factory owners of the 19th century dismissed the skills of their workers in favor of profit and productivity, so do the tech leaders of today dismiss human craft in favor of what they believe is “good enough” productivity. It’s telling that in the development of AI, tech companies often use the term “ median human ” to describe the aspirati... See more

The digital economy has radically changed the nature of the relationship between customers and corporations. Individuals have switched from being passive consumers to being an essential force in creating value, either through their actual work (Airbnb, DoorDash, Uber, Sofar artists, Wikipedia editors, Airbnb hosts) or their data (Facebook, Google, ... See more