annals of neoliberals not having read foundational work in the economics of platforms https://twitter.com/mattyglesias/status/1349093032952528897 …
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right, this is an interesting point to consider. is an extremely large network effect equivalent to prohibitive infrastructural costs, as far as business competition goes? in some sense, yes, it is because it's so important for determining viability of this kind of thing.
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old media doesn't have network effects like this. social media does. what's the closest equivalent category that has a similar kind of network effect? payment processors maybe? struggling to think of other places to look for precedent.
End of conversation
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Much of the value is network effects—the whole point of “first mover advantage”.
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