Hi Yada:

This is a great post. the observation is very interesting .Can’t wait to see more posts. Especially the ones about old people starting out in coding :p

In my opinion, emerging economies haven’t built mature retail infrastructure when internet technology became mainstream and e-commerce became possible. So it leaves more space to e-commerce.

And also e-commerce business model usually become monopolies. Because of the supply chain, logistics and the characteristics of marketplace, it’s harder to start a startup in e-commerce area then in technology driven areas(such as biotech) or in product design driven area(such as software), especially when big players are already existing. So I guess the other reason is developed countries have passed the golden time for e-commerce startups.