The exposure of the base

The a16z Marketplace 100 report reveals an interesting profile of emerging concentrations and network power-law distributions…

both absolutely…

and relatively…

where the result is a dynamic mix of moving pieces…

in a portfolio of diverse, uneven assets in perpetual development, but for a few…

which may be the consolidating force ahead, depending on their staying power.

As these consumption trends and network formations continue to evolve, an economic risk begins to show: The exposure of the merchant base to these unknowns and volatility.

The gamble isn’t only on the part of venture capital.