1/ Successful Internet companies can usually be characterized by the phases of a deal (economist’s “contract”) they improve the most
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Have 'trillions of $ of value' been 'created', or is it just simply a more efficient system of transferring money.
Value creation involves all phases of deals (not just performance) and many kinds of performance (not just payments).
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Lost me on that one, Nick
Think it's the term 'creation' I have trouble with. Has that value not just been diverted from elsewhere? -
No. They've improved the productivity of making deals & made possible deals heretofore infeasible. Not a zero-sum game.
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Accept that, but unsure that 'trillions of dollars' have been created that, under the previous system, would have simply not existed.
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