The author is grateful to Francesco Amodio, Edoardo Di Porto, Ruben Durante, Ruben Enikolopov, Chiara Farronato, Rosa Ferrer, Renata Gaineddenova, Jared Gars, Nicola Gennaioli, Matthew Gentzkow, Fabrizio Germano, Albrecht Glitz, Jonathan Hall, Eliana La Ferrara, Gianmarco León-Ciliotta, Massimo Motta, David Krisztian Nagy, Paolo Naticchioni, Victor Orozco, Maria Petrova, Christian Peukert, Giacomo Ponzetto, Davide Proserpio, Nandan Rao, Marta Reynal-Querol, Abel Schumann, Ananya Sen, Sandro Shelegia, Andrey Simonov, Alessandro Tarozzi, and several anonymous referees for their comments and suggestions. The author thanks seminar attendees at the London Business School, Manhattan University, Harvard Business School Conference on Digital Competition and Tech Regulation, Marketing Science Conference, Four School Conference, Stanford Graduate School of Business, Toulouse School of Economics Digital Economics Conference, Center for Economic and Policy Research, Chicago Booth, Columbia Business School, Bocconi, Escola Superior d’Administració i Direcció d’Empreses, Data Colada, Center for Economic Studie, Institute for Economic Research, ifo Institute, Paris Conference on Digital Economics, Urban Economics Association, Applied Young Economist Webinar, Universitat Pompeu Fabra and National Institute for Social Security (INPS). Access to the data used in this paper was granted under the VisitInps program. The author gratefully acknowledges technical assistance from INPS and the Italian Chamber of Commerce. The author thanks Claudia Trisna Amici and Saidevi Fioravanzo for invaluable research assistance. All remaining errors are the author’s own. The author does not have any competing interests to this work.