Too Long; Didn't Read
The most successful companies and products of the internet era have all been predicated on the concept of network effects. Theory behind network effects suggests that platforms and products with network effects get better as they get bigger — not just in value to users, but also in accruing more resources to improve their product, thus strengthening the “flywheel” But reality seems to be diverging from theory. Even companies that appear to have established a deep moat are struggling to maintain their position against copycats.