Why is Lloyd’s of London still going strong after 334 years? Lloyd’s is durable because it’s a marketplace, and marketplaces must be the perfect business model.  Lloyds customers, the insurers, have no choice but to use Lloyd’s because that’s where the buyers are. The buyers have to use Lloyd’s because that’s where the sellers are. And for 334 years Lloyd’s has sat in the middle, collecting a toll on every transaction. Facebook and Instagram are kinds of marketplace. So is Amazon, where 61 per cent of e-commerce sales are made by third-party sellers. Alibaba and eBay are others.  One marketplace…

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