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Simplifying Complexity

What made the Medici family so influential?

Nov 28, 2022
19:36

Podcast summary created with Snipd AI

Quick takeaways

  • The Medici family became influential by strategically building strong relationships and positioning themselves at the center of a star-shaped network.
  • Different types of influence in networks include popularity, knowing powerful individuals, bridging or brokering connections, and diffusion, each with its own strengths and effectiveness depending on the desired outcome within a specific network.

Deep dives

The power of networks in complexity science

Networks play a crucial role in understanding complexity. They consist of interacting agents and can be found in various settings, such as friendship groups, workplaces, or online communities. The podcast introduces Matthew Jackson, an economics professor, who explores the influence and power dynamics within networks using the historical example of Cosmo Dimitichi in 15th-century Florence. The ruling power in Florence was determined by a consensus among different influential families. Despite not being the wealthiest family, the Medici family emerged as a powerhouse due to their extensive network connections. Through repeated business dealings and strategic marriages, they built strong relationships, positioning themselves at the center of a star-shaped network. This central position allowed them to broker information and favors, gaining power and ultimately becoming leaders.

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