In this episode of Run the Numbers, CJ breaks down the 5,000-year history of marketplaces—from Mesopotamia to Amazon—and the economics behind take rates, trust layers, and vertical unbundling. We unpack Airbnb’s fee backlash, Facebook Marketplace’s hidden value, why inventory kills platforms, and how AI will reshape discovery—without eliminating the middleman.

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SPONSORS:

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LINKS:

Mostly Talent: https://mostlymetrics.typeform.com/to/cLTxtAsN

CJ: https://www.linkedin.com/in/cj-gustafson-13140948/

Mostly metrics: https://www.mostlymetrics.com

Slacker Stuff: https://www.slackerstuff.com/

Ben: https://www.linkedin.com/in/slackerstuff/

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RELATED EPISODES:

The Mindshare Advantage Marketplace Success With Boris Wertz of Version One Ventures

https://youtu.be/kN61sAxw_yk

The Marketplace Plus Model Explained | Colin Gardiner of Yonder VC

https://youtu.be/VIWFVwCfyLE

A CFO Explains the History of EBITDA

https://youtu.be/JySZv_fSNqs

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TIMESTAMPS:

0:00 Preview

1:34 Marketplace Origins

2:48 The Digital Shift

5:55 Unbundling of Craigslist

9:56 Sponsors — Rillet | Tabs | Abacum

13:21 Smart Phone Revolution

17:33 Take Rate Calculations

21:08 When the Marketplace Crosses the Line

24:49 Sponsors — Brex | Metronome | RightRev

28:09 When Fees Become Friction

30:37 The Marketplace Plus Model

33:26 The $100B Flea Market

36:14 The Inventory Trap

40:07 The Disintermediation Problem

42:35 Convenience Beats Inspection

45:09 AI Compresses the Marketplace

47:56 You Can’t Cut Out the Middleman

50:03 Credits

#RunTheNumbersPodcast #Marketplaces #PlatformEconomy #Middleman #TechStrategy

The Economics of Marketplaces: Take Rates, Middlemen, and Power

Run the Numbers

The Economics of Marketplaces: Take Rates, Middlemen, and Power