Money 2.0 Stuff: Adversarial aggregation

Ben Thompson’s Aggregation Theory, the Sapiens of corporate strategy, argues, roughly, that in a post-Internet era where supply has been commoditized, enterprises must compete to own the user distribution funnel. Notable case studies include Amazon, Uber, and Facebook. Netflix also stands out as a success story. Indeed, Netflix’s success has spawned a multitude of competitors — Disney+, Apple TV+, HBO — each vying to aggregate themselves. “Someone should aggregate the aggregators” a junior VC will probably tweet if they have not done so already, and, hey, like, not a bad idea actually... 

Aggregation Theory is slowly but surely making its way to the cryptocurrency world. Arguably it has been here for a while. One way of thinking about Binance is as a company without an office in Shanghai but you could also make a convincing case that Binance aggregated cryptocurrency markets into a single, unified interface, reaping the sweet, sweet rewards ever since.