The Web 2.0 platforms in the cultural industry have taken advantage of the winner-take-all tendencies of digital markets to take money from each and every transaction (by advertising or by direct sales) and have used their position, standing between the consumer and the service provider, to build enormous market power over service providers. The dispute is often presented as one between scrappy startups and big corporate incumbents (Airbnb versus chain hotels in particular) and yet history suggests that these big players will find a way to coexist. Instead, those who are more likely to be hit are the smaller bed and breakfasts and independent hotels. And the new entrants, those who have the promise of easy access to consumers dangled in front of them, may find that the platform they depend on takes the lion’s share of the money.
i like the implication that the mainstream old vs new narrative is a distraction from what's actually happening