![]() ![]() Simplicity: “You two already know each other I’ll insert myself into the middle, to make the relationship smoother.” Stripe and Squarespace make it easier for companies to sell goods and services by handling payments.Safety: “I don’t have to know you in order to exchange money with you.” Stock market exchanges and credit card companies build trust with Party A and Party B, individually, so the two parties (indirectly) trust each other through the transitive property.By narrowing the scope of what’s possible-by limiting options-the middleman standardizes how the parties interact. Standardization: “The middleman sets the rules of engagement, so we all know what to expect.” A common example would be when a middleman like eBay sets the accepted methods of payment.(Compared to the Discovery case, Matching works best when one or both counterparties are easily interchangeable.) Instead of you having to scroll through lists of drivers, Uber and Lyft use your phone’s GPS to pair you with someone nearby. Matching: “Should we interact? Are our needs compatible?” Many middlemen that help with discovery also handle the matching for you, as with ride-share apps.Party A posts a description of themself or their service, Party B scrolls and sifts the list while evaluating potential matches for fit. Discovery: “Where do I find the other side of my need or transaction?” Dating apps like OKCupid, classified ads services such as Craigslist, and directory sites like Angi (formerly Angie’s List) are all a twist on a search engine. ![]() When I say that middlemen make interactions easier, I mean that they address a variety of barriers: In the next article, I’ll explore what it takes to make a better middleman and how technology can play a role. In this first article, I’ll explain more about the middleman’s role and the challenges they face. Still, there’s room for everyone involved-Party A, Party B, and the middleman-to engage in a happy and healthy relationship. Get a free trial today and find answers on the fly, or master something new and useful. Join the O'Reilly online learning platform. ![]()
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