Decoding the Signals Surrounding Signal’s Success

The defining feature of 21st-century innovation has been the reduction of friction.The most successful companies of our times – Google, Facebook, Uber, and so on – follow what economists David S. Evans and Richard Schmalensee call the “Matchmaker” business model. These companies make their money by making it easier for one group of people to connect with another group of people almost effortlessly. Uber, for instance, makes it easy for cab drivers and cab riders to find each other, a job that has historically caused great frustration, as anyone who has attempted to hail an auto in Bengaluru in the old-fashioned, “wave-your-hands-frantically-as-if-you-are-drowning” way can attest.Read the full article in The Wire