Mainstreaming NFTs: Use Cases, Art, More
web3 with a16z crypto
Network effects in tech and the power consolidation
The power consolidation in tech is driven by network effects, which increase switching costs and give pricing power to platforms like Apple, Facebook, and Google. However, crypto and the web three movement offer a countervailing force as network effects accrue to the community instead of a single company. Policymakers need to understand the importance of network effects in analyzing monopolistic power on the internet. The blockchain crypto web three movement is the only credible force against the monopolistic power of tech incumbents. Companies like Epic are even in a lawsuit with Apple, highlighting the need for change. Antitrust thinking needs to be updated for the digital era.
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