a. Supply and/or demand sides of the market are fragmented,
b. Value for participants increases with the number of participants,
c. High market liquidity (after bootstrap), and
d. Market maker is in the payment flow.
"Think forwards and backwards — invert, always invert.” “Many hard problems are best solved when they are addressed backward. Figure out what you don’t want and avoid it and you’ll get what you do want."
"One of my rules for getting a marketplace off the ground is do tons of unscalable things."
"You have to understand what the end game is and whether you’re building the system where things tip into one another which allows the business to take off."
Successful market = lollapalooza.