Investor argues personal agents like Muse will erode marketplace moats
An investor argues that personal assistants like Muse make supply across the internet and offline world discoverable and let demand compare and negotiate prices automatically, so most marketplaces will be hit.
The marketplace moat is going down…personal agents materially weaken the historical truth of liquidity begetting more liquidity. With agents like Muse, ~all supply across the internet and offline world will be discoverable, not just what’s housed in the dominant marketplace people know to visit. Supply doesn’t need an aggregator to be found, will multi home, won’t accept the rake, etc etc. and demand will programmatically find the best supply at the best price, regardless of whether its online or offline, requires a deep web search, agentic phone calls to offline establishments, email inquiry and negotiation, whatever. The world just isn’t gonna need marketplaces for transactions to clear. Of course there are categories, especially where a marketplace isn’t purely governed by economic theory, that are more insulated, but that’s the exception…most marketplaces are in for a rude awakening.