This originally started as a Quora answer to “What is the next wave of innovation in e-commerce after private / flash sales” and zoomed in popularity in short order.  This answer broadly:

1.     Discusses why this trend is coming around now

2.     Defines 3 majors drivers fueling the e-commerce startup boom that started in early 2011

3.     Outlines three future waves of innovation

        a.     Personalized, Subscription Fashion

        b.     Vertical Integration of Demand Signals

        c.     Infrastructure as a Service

4.     Deep Dive into Wave 1

5.     Fully Flushed out Startup Example