The so-called new economy and the disintermediation of the rent seekers

The so-called new economy is about disintermediation. That’s what it has always been touted as. And I think there’s validity to this. It’s interesting to see how incumbents deal with this disintermediation, especially when they have government-regulated markets.
A perfect example is Airbnb. The company just closed a $500 million round of funding that values the enterprise at $10 billion. The company is basically a peer-to-peer hotel/bed & breakfast rental site. It allows normal people to re...


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