[NickM]

This shows the true value of the platform to end users is near zero.

Is that really true? I think platforms have strong network effects that make migrations to alternatives (like Bluesky) very difficult.

The network effect has negative value to the user; if the platform went away, everyone would migrate to a better platform, and everyone would be better off. The network effect is an artificial barrier to competition that only benefits the owner of said network, and it only works because collective action is harder than collective inaction.

[abigail95]

what does artificial mean here

[NickM]

There’s no technical reason different social media networks couldn’t be made to interoperate. The barriers that keep other platforms from building off of a successful network are largely legal, not natural.

I’m also equating these kinds of network effects with other artificial barriers to competition, like price fixing or mandatory non-compete agreements.