The thrust of his article was not about this, but these are good points. The three ways of making money -- transaction fee, selling hardware, and selling ads -

The thrust of his article was not about this, but these are good points. The three ways of making money -- transaction fee, selling hardware, and selling ads -- exclude just paying for an internet service (where I would call subscription, metered, and IAP different ways for paying for a service). You could call that a subset of e-commerce except that he defines e-commerce companies as those that "that profit from transactions occurring on their platforms," and uses Amazon, ebay and Uber as examples.