Chris Dixon pfp
Chris Dixon
@cdixon.eth
“Death of the middle'' is a useful framework for predicting how new technologies will affect markets. The classic example is retail, once dominated by department stores like Sears and Kmart, until the internet drove consumers to two extremes: high-status premium brands and hyperscale internet retailers.
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Chris Dixon pfp
Chris Dixon
@cdixon.eth
It’s no coincidence that the financial winners that emerged from this transition were LVMH, a roll up of high-status brands, and Amazon, the leader of tech-enabled logistics and efficiency.
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Chris Dixon pfp
Chris Dixon
@cdixon.eth
The internet had a similar effect on media. Middling TV like sitcoms and game shows got replaced with short-form social media videos and long-form premium streaming content. Similarly, news tended toward either short format social posts or long formats like multi-hour podcasts.
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