Welcome to the A16Z podcast. I'm Michael Copeland, and we are here today with Jeff Jordan and

Anu Hari Haran. Welcome, guys. Thank you. Great to be here. Great to be here, Michael. So we're going to

talk about marketplaces. And I've talked to you guys a bit about this, and you guys are noticing

that marketplaces as a sort of general category is growing,

marketplaces online, I should say, or at least powered by online, are going much faster than

e-commerce.

And I just kind of want to start with like, what's going on here?

I mean, marketplaces have been around since there were two people, one who wanted to buy

something and one who had something to sell.

So what are you guys

seeing right now? I mean, I think that, I think that observation is right. We're seeing

marketplaces just exploding. And I think one of the reasons is there is, there are no

governor or limitations on how fast most marketplaces can grow. I mean, it's kind of, the company,

most of these marketplaces are virtual. And, you there's kind of the company, most of these marketplaces are

virtual and, you know, when a good idea comes in, there is just no limit to growth where e-commerce

is dealing with warehouses and product sourcing and things like that. So great marketplaces,

you know, just, you know, when they catch a chord, they really catch a chord. And you just seem absolutely explosive growth in a ton of areas.

So give us an example here.

Let's start with the marketplace that you guys are seeing that's growing like gangbusters.

You know, I'm proud to be on the Airbnb board.

It's a huge business.

It's an incredibly rapidly growing business.

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