In this chapter we investigate the connectivity structure of preferential attachment models. We start by discussing an important tool: exchangeable random variables and their distribution described in de Finetti’s Theorem. We apply these results to Pólya urn schemes, which, in turn, we use to describe the distribution of the degrees in preferential attachment models. It turns out that Pólya urn schemes can also be used to describe the local limit of preferential attachment models. A crucial ingredient is the fact that the edges in the Pólya urn representation are conditionally independent, given the appropriate randomness. The resulting local limit is the Pólya point tree, a specific multi-type branching process with continuous types.