Middleman Economy
Why Middlemen Are More Important Than EverWhat Do Middlemen Do, Exactly?Out with the Parasite, In with the PartnerA Course on MiddlemenTHE BRIDGESpanning the ChasmTrading Between the BungalowsSocial Distance: Between Founders and FundersA Bridge to SomewhereA Bridge Across TimeBecoming a Bridge: SitterCityBridges as Two-Sided MarketsTHE CERTIFIERApplying the Seal of ApprovalThe Middleman Who Skips the MiddlemanThe Middleman as ExpertThe Value of a Good ReputationWhy Buying Direct Is Overrated: Lemons at the Farmer’s MarketThe Myth of the GatekeeperThe Villain of Cost and the True Reason Pearls Are ExpensiveTHE ENFORCERKeeping Everyone HonestWhy Services Require EnforcersThe Pimp at the Truck StopPlaying the WatchdogHow OpenTable Secured Restaurants’ Trust in DinersHow Watchdogs Amplify ReputationsHow the Mere Threat of Consequences Can Improve BehaviorWeak Enforcer, Strong EnforcerTrading in Private InformationSetting Shared StandardsCaught in the Middle?THE RISK BEARERReducing UncertaintyHeads I Win, Tails You Lose?“Then the Art World Changed Dramatically”“I Don’t Want to Become Dependent Suddenly on One Artist”Middlemen at the Fish MarketThe Promise and the Perils of Sharing RiskThe VC: Opening the FloodgatesEmbracing External Risk: Nonconsensus and RightBenefiting from Power LawsThe Upside of HumilityHow Contrarianism Attracts OpportunityLearning from Micro-VCsThe Truckless Trucking CompanyTHE CONCIERGEMaking Life EasierSurvival of the Travel Agent“Let’s Look at Your iPad Together”From the Problem of Scarcity to the Problem of AbundanceEarning Your FeeThe Middle Way for Middlemen“We Want It To Be Simple”THE INSULATORTaking the HeatFrom Black Markets to Regular BusinessA Convenient FictionA Reputation for ToughnessCan an Insulator Be Nice?A Duty-Bound, Heroic RoleInsulation Needs Are All Around
