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Part of the issue is that sometimes reducing transaction costs gets them so low that the activity ends up being done by the individual rather than a business entity.

The other side of that coin is the "commoditize your complements" thing. If you make X cheap and people who have X want or need Y, whoever is selling Y is going to grow like a weed.

So that's kind of what we're seeing. Things either get so easy that you don't need to find somebody else to do them, or they don't while everything else does, in which case that thing becomes a bottleneck in the low transaction cost economy and the entity providing it turns into a giant business corporation.




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