Some companies are worth more because of the product they sell. The best ones are worth more because of the relationship they build. $SOFI can turn one member into a banking, investing, credit card, and lending customer. $UBER can turn one rider into a delivery customer, Uber One member, and local commerce user. $AMZN can monetize one Prime member through retail, ads, subscriptions, groceries, and entertainment. $NOW can enter through one workflow and expand across an entire enterprise. $MELI can turn one shopper into a payments, credit, logistics, and advertising customer. The product gets the customer in. The relationship is what creates the long-term value.
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