These personal reflections on Amazon found their way into my journal this morning, and I thought they were worth highlighting:
Amazon were geniuses to get their hooks into used booksellers. It placates [those vendors] by making a market and sharing the carcass of the chain bookstore with them, and it unlocks the [liquidity] of [heavy-reading consumers]. Between that and Kindle, they’ve got a steady IV drip of my money, and probably that of millions of others. It’s funny; I can’t even remember exactly when the “buying options” table appeared, much less when I started (ab)using it.
That little snippet of my introspection bespeaks a triumph–on Amazon’s part, of course–of two-way market creation (the most difficult), proactively “counter-disrupting” another type of transaction and horizontally linking it to the main business, and incorporating the new capabilities seamlessly and attractively into the user experience.
My hat is off to them, for what that’s worth. If more firms acted (or were started) to lower the barriers–and raise the utility–of added consumption on the margin in this way, we might actually get ourselves an economic recovery. Eventually. Er…maybe I shouldn’t oversell it.