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Chapter 3: The future of commerce is happening now

The future of commerce is happening now We take Ubers. We book our travel accommodations on

Airbnb. Many people buy clothing on Farfetch, and order

groceries on Instacart.

All of these companies are platforms. Uber doesn t own any

cars, Airbnb doesn t own any real estate, Farfetch doesn t own

any clothes, and Instacart doesn t own any groceries. They ve

used the platform business model to establish a prolific

ecosystem of sellers and customers. And these ecosystems

and business have grown at an unprecedented rate, because

their models are based on technology that fuels network

effects. And it s not just using a platform model to drive sales

in their core category.