How digital platforms affect local entrepreneurial activities: Evidence from the staggered entry of craigslist
研究发现Craigslist的进入增加了本地创业活动，尤其惠及低收入、黑人和移民群体，新创企业规模更小且以B2C为主，表明数字平台能降低市场壁垒、促进创业民主化。
Abstract Research Summary Access to markets is critical for entrepreneurial success, yet many face significant barriers. This study argues that digital platforms functioning as peer‐to‐peer marketplaces can facilitate entrepreneurial activity by improving market access for new ventures. Using the staggered entry of Craigslist into various markets, we find that Craigslist's entry increased local entrepreneurial activities, especially in low‐income regions. Moreover, individuals from lower‐income households, as well as Black and immigrant communities, were more likely to create new ventures following Craigslist's entry. Firms founded after Craigslist's entry were also smaller in size, potentially reflecting more efficient management, and primarily operated in B2C rather than B2B sectors. This study highlights how multisided platforms can empower individuals with limited market access and resources, ultimately democratizing entrepreneurship in the digital age. Managerial Summary Access to markets is essential for entrepreneurs to succeed, yet many face significant challenges in starting and growing their businesses. This study demonstrates how digital platforms like Craigslist can help overcome these barriers and create opportunities for more people to participate in entrepreneurship. When Craigslist expanded to new locations, it increased small business activity, particularly in low‐income areas. Individuals from lower‐income households, as well as Black and immigrant communities, were especially likely to benefit from it when starting businesses. These businesses were smaller in size, potentially indicating more efficient management and more B2C‐focused operations. This research underscores how digital platforms can make markets more accessible for traditionally disadvantaged groups, fostering a more inclusive entrepreneurial ecosystem.