The Next 10 Years Will Be About "Market Networks" and "Network Intersubjectives"

The Next 10 Years Will Be About "Market Networks" and "Network Intersubjectives"

In the coming years, we can expect to see a rise in the prominence of "market networks" and "network intersubjectives." These two concepts, although distinct, share common attributes and offer unique opportunities for professionals and individuals to connect, collaborate, and transact in a more efficient and effective manner.

Market networks, such as Poshmark, eBay, Uber, Patreon, and LendingClub, combine the elements of both networks and marketplaces. They leverage SaaS workflow software to focus action around longer-term projects, rather than just quick transactions. Additionally, these market networks promote the service provider as a differentiated individual, helping to build long-term relationships. This blending of network effects and revenue models from SaaS and marketplaces creates a powerful many-to-many transaction pattern.

HoneyBook and AngelList are examples of market networks that provide SaaS tools to professionals, enabling them to perform critical tasks and connect with their existing offline networks, whether they be clients or other professionals. By moving these connections and transactions into software, market networks simplify business operations for professionals and improve service for clients.

On the other hand, network intersubjectives refer to the structure of a network itself and how it determines what people can or cannot do. Centralized networks tend to have centralized governance, where money and power are concentrated, resulting in a top-down decision-making process. This centralized bureaucracy limits the complexity of problems that can be addressed and stifles organic growth at the network's edge.

In contrast, federated or decentralized networks offer a patchwork of private and public shared spaces, allowing for cooperation among smaller hubs using shared protocols. This model provides more variety than centralized networks and acknowledges the complexity of human nature. However, federated networks are also susceptible to centralization over time due to preferential attachment, where nodes with more connections gain even more power and resources.

Both market networks and network intersubjectives have certain attributes that contribute to their success. Market networks target more complex services and recognize the importance of individual professionals in delivering those services. Collaboration within market networks revolves around projects, and the profiles of people involved are unique and tailored to their specific expertise. These networks also foster long-term relationships and encourage free-flowing referrals, increasing transaction velocity and satisfaction.

To thrive in the era of market networks and network intersubjectives, professionals and individuals can take several actionable steps:

1. Embrace technology: Adopt SaaS tools that streamline tasks and improve connectivity with clients or peers. By integrating technology into daily operations, professionals can enhance their efficiency and effectiveness.

2. Cultivate relationships: Prioritize building and nurturing long-term relationships within networks. A strong network can provide valuable support, referrals, and collaboration opportunities.

3. Seek decentralization: Explore the potential of decentralized networks or federated models. By participating in shared protocols and cooperating with smaller hubs, individuals can access a greater variety of resources and avoid over-centralization.

In conclusion, the emergence of market networks and network intersubjectives signifies a shift towards more efficient and collaborative ways of conducting business and connecting with others. These models offer professionals and individuals the opportunity to leverage technology, build meaningful relationships, and embrace decentralized structures to thrive in the ever-changing landscape of the next decade. By understanding the commonalities and unique aspects of these concepts, individuals can position themselves for success in this new era of networking and collaboration.