Marketplace of Marketplaces

 Article: https://www.nytimes.com/2021/03/17/style/amazon-brand-flippers.html 

With the rapid rise of e-commerce and marketplaces, we are now seeing companies like Thrasio build PE like firms buying up and consolidating third party sellers to sell on these marketplaces. In other words, what is new is old, and what is old is new. As I read this article, I couldn't help but think that as much as things have changed, no matter what happens, the cycle remains the same, specifically: Decentralize --> Centralize --> Decentralize and so forth. Before the internet, there was so much concern about monopoly type power, too much centralization with department stores or drug store chains. Post the internet boom, and with the rise of Amazon, Shopify, etc, anyone could turn themselves into a business. Business was once again, democratized. Over the past few years however, with so much dry powder, many have identified the opportunity of buying these individual businesses for a small premium, and through economies of scale, aiming to earn a larger payback with recurring revenue. Thrasio reached $1B valuation in just 18 months since its inception. The question becomes, how will this be decentralized again? The true winners though are the marketplaces that have achieved scale and dominant market share. No matter how much consolidation happens behind the scenes, in the end they still get a cut of everything thats sold, and thats all that matters to them.