BHI 3.0·Q1 2026 Bulletin
Last computed 14:32 UTC, Apr 29 2026·Spearman ρ = 0.83·Validation: preliminary
Today's bulletin →
Movers · since 14:32 UTC, Apr 29 2026
PLATFORM PROFILEMELI

MercadoLibre

$88B$278B payment volumeE-Commerce
5.87
B-index (V3.1)
BLACK HOLE
Capture1.856
Escape0.316
Key Structural Insight

Most compelling lock-in vs market cap in e-commerce. $88B for Amazon+Stripe+DHL of Latin America.

Eleven-Parameter Profile

5DATAMEMACTPROCNETCLOSEPORTSUBFALLORGMOM
Data Depth8/10
Memory7/10
Action8/10
Process9/10
Network8/10
Closeness8/10
Portability3/10
Substitutability3/10
Human Fallback3/10
Org Depth7/10
Momentum8/10
Capture Escape Extended

V3.1 Decomposition

ComponentValueFormula
CES₄ capture core0.7984CES(d, m, a, p)
Knowledge synergy σₖ0.7483√(d · m)
Operability synergy σₒ0.8485√(a · p)
Synergy boost1.23951 + 0.3·(σₖ + σₒ)/2
Org-depth multiplier1.35001 + 0.5·o
Momentum multiplier1.24001 + 0.3·t
Total Capture1.8555c·(1+0.5n)·core·syn·org·mom
CES₃ escape core0.3000CES(x, s, h)
Feedback attenuation0.7205max(0.3, 1 − 0.35·core)
Total Escape0.3162ε + escCore · feedback
B = Capture / Escape5.871.856 / 0.316

Scoring Rationale

LatAm Amazon. Mercado Pago ($278B TPV = 4x marketplace GMV). Own cargo fleet. 95% packages through own network. $11B credit portfolio.

Parameter Sensitivity

MARGINAL B-INDEX CHANGE PER ±1 SCORE SHIFT
CLOSE8
+1.47
FALL3
-0.91
PORT3
-0.91
SUB3
-0.91
MEM7
+0.57
ACT8
+0.54
DATA8
+0.53
PROC9
+0.51
ORG7
+0.43
NET8
+0.42
MOM8
+0.28
+ raises B (deepens lock-in) lowers B (aids escape)

Comparable PlatformsE-Commerce (7 peers)

#PlatformTickerB-indexZone
01Amazon MarketplaceAMZN7.77BLACK HOLEProfile →
02Alibaba/TaobaoBABA4.97BLACK HOLEProfile →
03CoupangCPNG3.72BLACK HOLEProfile →
04ShopifySHOP3.15BLACK HOLEProfile →
05Shopee/SeaSE3.03BLACK HOLEProfile →
06PDD/TemuPDD1.86EVENT HORIZONProfile →
07eBayEBAY1.71EVENT HORIZONProfile →