Startups creating new markets play on "hard mode", unlike Facebook, which played on "easy", as its core product was digitizing preexisting offline relationships (Ben Thompson/Stratechery)

Ben Thompson / Stratechery:
Startups creating new markets play on “hard mode”, unlike Facebook, which played on “easy”, as its core product was digitizing preexisting offline relationships  —  One way to understand how the Internet is different is to not only examine what business models work …