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by mikechen233
1872 days ago
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It depends on the product. But software has stronger the ecosystem effect and data lockin more so than any previous technology. Think facebook, youtube, Windows, office, apple ecosystem of products. They have two market characteristics: 1. People need to be on the platform that others are in 2. Once you are in you it's hard to leave. Both creates tendency for winner takes all economics. And I think many people knows this. Part of the reason why software companies since the 90s have higher valuation than other industries. |
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