tech and commerce
In the early 1800's, the buying of goods happened at the local general store or by bartering with neighbors. Inventory was light, but service was delivered with a personal touch. Mobility was low, so the small number stores were highly concentrated. Fast forward to department stores to shopping malls, economies of scale start to take shape. Bigger inventories combined with greater personal mobility sparked a fundamental change in land use and access to goods and services. Then came Amazon and everything changed again. Limitless inventory meets prime delivery. Anything and everything can be delivered in 48 hours. Logistics become the core operative of the modern commerce company.
But, something more interesting is starting to happen. Technology is beginning to enable peer-to-peer commerce at scale. Uber now allows anyone to make money with their own vehicle. AirBnB allows anyone to make money renting out their own house. These represent a fraction of the potential impact technology is going to have on peer-to-peer commerce over the next 20 years.
For anyone that's experienced same-day delivery, it's a magical experience. Order something in the morning, have it in your possession that afternoon. Not only is the experience convenient, it's near frictionless. No cash. No travel. With the exception of quick phone search, it hardly even takes time. Remarkably, Amazon now offers same-day delivery for one million items in 29 different cities.
articles worth sharing
Originally published by The New Yorker. 10/2016
Originally published by The Guardian. 11/2016
Originally published by TechCrunch. 11/2016
Originally published by GovTech News 11/2016