I'm not sure I fully agree with the writer's assessment of how Netflix, Airbnb & Uber modularize/commoditize a different part of their respective value chains i

I'm not sure I fully agree with the writer's assessment of how Netflix, Airbnb & Uber modularize/commoditize a different part of their respective value chains in order to compete with incumbents. My initial thoughts: - Do taxis really modularize payment while Uber integrates it? Why is there an additional value capture for Uber in this part of the chain? Taxi drivers have to pay taxi companies heavy rent anyway - which is equivalent to Uber taking a large cut of revenue. - Do hotels modularize reservations while Airbnb integrates them? I think it's arguable that Airbnb is banking on its differentiated offering (homes vs hotel rooms) and lower prices to attract customers to its "integrated" reservation system. But hotel chains have "integrated" reservations too - they just also choose to distribute rooms through other channels (and Airbnb probably does as well). - The Christensen hypothesis that profits lie in some uncommoditized part of the value chain looks like a bit of a truism - some part of the chain has to offer some supernormal profits, otherwise it wouldn't be much of an industry to run a business in. (And there are probably exceptions: industries massive enough that virtually every part is commoditized.) That said, as an Econ/Business major, I appreciated his analysis. I'd like to hear thoughts from the rest of you.