The content here is for informational purposes only, should not be taken as legal business,

tax, or investment advice, or be used to evaluate any investment or security and is not

directed at any investors or potential investors in any A16Z fund. For more details,

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Hi, everyone. Welcome to the A6 and Z podcast.

Today's episode was originally recorded as a video, which you can find in our YouTube

channel at YouTube.com slash A16Z videos of a hallway cell conversation between deal and

research team operating partner Frank Chen and Lee Jin, who covers our consumer vertical and co-wrote with general partner

Andrew Chen a post on the topic of what's next for marketplace startups. So in this video episode,

Frank and Lee discuss the past and future of marketplace startups. And why aren't there

100 services marketplaces yet? Well, hello, YouTube.

My name is Frank Chen, and we're going to have a hallway conversation today.

Well, what's a hallway conversation?

It's exactly like it sounds.

We have tons of conversations here in the office with each other as we're thinking about what kinds of companies should we invest in.

And what we're going to do

is take you inside the sausage factory so that you can hear a conversation exactly like that.

So today I'm here with Legion, who works on our consumer investing team. Welcome, Lee.

Hello, everyone. And today we're going to talk about marketplaces. So everybody knows eBay. eBay is an awesome

place to find anything because it connects buyers and sellers. And ever since eBay, and how it's

been 30 years, something like that, eBay was definitely an internet 1.0 company, we've been

waiting for 100 at-scale marketplaces. There's so many

...