Sublime

But an outlandish mind was a valuable asset,

Monopolists, by contrast, disguise their monopoly by framing their market as the union of several large markets:

If Daniel feels subtly afraid of them, he will pay attention. The twenty-first-century founder is akin to the pirate of the sixteenth century—an outsider overflowing with energy and brazen charisma.

“There’s something about forty bucks,” Shader argued, “that has to do with the fact that’s the price above which you start getting nervous about lack of recourse.” He proposed a business that would provide eBay traders with escrow and payment services—“a branded infrastructure for safe and convenient person-to-person commerce.” It would make people

In our judgment, the opposite is happening today. Information technology is raising earnings opportunities for the skilled and undermining institutions that operate at a large scale, including the nation-state.

Start Small and Monopolize

What I discovered was a company exulting in creative disorganization, even if the creativity was not always as substantial as hoped for.