Entrepreneurs are transforming the way society makes and distributes valuable things. There will be (and already are) important consequences for the way we work and live. The good news is that well need a lot less costly packaging, manufacturing, supply chain, and transport expenditures. The bad news is that folks who once manufactured, made packaging, or distributed and transported products are going to have to find something else to do. Much of my work lately, on the sharing economy, on the platform economy, and on antitrust policy, has focused on a particular distinction that almost no one seems to understand. I am going to explain the distinction as simply as I can, and then turn to a recent conversation that made light bulbs go on in my head.
Click for Full Text!