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The global economy is defined by scarcity in resources, production, and distribution. On the web, the raw material is data. It is often shaped (produced) by volunteers, and it costs almost nothing to replicate and distribute the resulting product.
This is profoundly different than the current industrial economy.
Our investment strategy is to arbitrage the difference between the capabilities of the new medium and readiness of the existing economic and social structures to exploit those capabilities.
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Read that a couple of times, an then read it again. And again ;-)
