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We back exceptional Founders building market-transforming companies."/><meta property="og:image:alt" content="Og Image Alt"/><meta property="og:image:type" content="image/jpeg"/><meta property="og:image:width" content="1200"/><meta property="og:image:height" content="675"/><title>Your Life is Driven by Network Effects</title><meta name="robots" content="index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1"/><link rel="canonical" href="https://www.nfx.com/post/your-life-network-effects"/><meta property="og:locale" content="en_US"/><meta property="og:type" content="article"/><meta property="og:title" content="Your Life is Driven by Network Effects"/><meta property="og:description" content="Revealing the Unseen Forces That Guide Your Life What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It certainly feels like we’re in full control. 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src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2023%2F05%2Fyour-life-network-effects-v1.jpg&w=3840&q=75"/></div></div></div><div class="grid grid-flow-col grid-cols-4 lg:grid-cols-12 px-6 md:px-24 lg:px-0"><div class="hidden lg:block lg:col-span-2 mt-16"><div class="mb-8"></div><div class="flex flex-col gap-8"><div class="grid gap-2"><div class="flex flex-wrap"><span class="text-base text-nfxBlue dark:text-offBlue font-gtAmericaMonoLight">Table of Contents</span></div><div class="border-t-[0.5px] border-nfxBlue/25 dark:border-offBlue/25"></div></div><div class="flex flex-col max-w-[192px] gap-2"><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Revealing-the-Unseen-Forces-That-Guide-Your-Life"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Revealing the Unseen Forces That Guide Your Life</span></a></div><div class="text-xs font-gtAmericaMonoLight ml-4 text-nfxBlue/75 dark:text-offBlue/75"><a href="#"><span class="hover:text-nfxBlue hover:dark:text-offBlue"></span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Network-Force:-The-Unseen-Hand "><span class="hover:text-nfxBlue hover:dark:text-offBlue">Network Force: The Unseen Hand </span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Seeing-the-Math-at-Work-in-Your-Life"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Seeing the Math at Work in Your Life</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Zipf’s-Law-and-You"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Zipf’s Law and You</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Your-Body-and-Cities-Have-Predictable-Mathematical-Patterns"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Your Body and Cities Have Predictable Mathematical Patterns</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#How-do-nodes-on-a-human-network-work?"><span class="hover:text-nfxBlue hover:dark:text-offBlue">How do nodes on a human network work?</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#In-Networks,-The-Rich-Nodes-Get-Richer"><span class="hover:text-nfxBlue hover:dark:text-offBlue">In Networks, The Rich Nodes Get Richer</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#The-math-behind-why-dinner-parties-behave-the-way-they-do"><span class="hover:text-nfxBlue hover:dark:text-offBlue">The math behind why dinner parties behave the way they do</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#How-Networks-Form"><span class="hover:text-nfxBlue hover:dark:text-offBlue">How Networks Form</span></a></div><div class="text-xs font-gtAmericaMonoLight ml-4 text-nfxBlue/75 dark:text-offBlue/75"><a href="#What-Does-Your-Network-Want-from-You?"><span class="hover:text-nfxBlue hover:dark:text-offBlue">What Does Your Network Want from You?</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Your-Life’s-Crossroads"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Your Life’s Crossroads</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#The-Network-Topology-of-Your-Life"><span class="hover:text-nfxBlue hover:dark:text-offBlue">The Network Topology of Your Life</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#1-–-What-Family-You’re-Born-Into"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #1 – What Family You’re Born Into</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#2-–-High-School-Network"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #2 – High School Network</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#3-–-College-Network"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #3 – College Network</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#4-–-First-Job"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #4 – First Job</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#5-–-Marriage/Choosing-a-Life-Partner"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #5 – Marriage/Choosing a Life Partner</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#6-–-Where-You-Live"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #6 – Where You Live</span></a></div><div class="text-xs font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75"><a href="#Crossroad-#7-–-Reassessments"><span class="hover:text-nfxBlue hover:dark:text-offBlue">Crossroad #7 – Reassessments</span></a></div></div></div></div><div class="hidden lg:block"></div><div class="col-span-4 lg:col-span-6 lg:pt-8"><div class="post_post__Hm4aF width: 100% bg-offBlue dark:bg-nfxBlue text-nfxBlue dark:text-offBlue"><h2 id="Revealing-the-Unseen-Forces-That-Guide-Your-Life">Revealing the Unseen Forces That Guide Your Life</h2>  <h3 id=""></h3> <figure id="w-node-e1d39b22aa1d-d3a748fc" class="w-richtext-align-center w-richtext-figure-type-video center-video new-video-style has-simplecast" style="padding-bottom:60%"><iframe loading="lazy" src="https://player.simplecast.com/befbe017-e48f-48eb-bbc0-9b17f81132ca?dark=true&color=242547" width="100%" height="200px" frameBorder="no" scrolling="no" seamless=""></iframe></figure> <p>What city you live in. Who you date or marry. Which job you choose. What clothes you wear.</p> <p>We all think we make these choices ourselves. It certainly <span class="italic">feels</span> like we’re in full control. But it turns out that our choices — both in our startups and in our lives — are more constrained than we think.</p> <p>The unseen hand in them all is the networks that surround us and the powerful math they exert on us.</p> <p>Working with network effects in our 100+ companies makes it impossible not to notice how the same mechanisms and math that create near-destiny for companies also create near-destiny for us as individuals. It’s mind-blowing once you see it.</p> <p>These constraints are highly determinative of how your life will turn out, guiding us inexorably down one path or another in ways that are both quite predictable. Yet these forces are typically unnoticed.</p> <p>This article outlines how we see network effects impacting nearly every aspect of your life. With that lens, it lays out a perspective on how to make the 7 most important decisions of your life. It will hopefully help you make decisions that are more true to the kind of life you want to lead.</p> <figure id="w-node-2aa26007f622-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-video" style="padding-bottom:56.206088992974244%"> <div><iframe src="https://www.youtube.com/embed/HdnXuKi_2Zw" frameBorder="0" scrolling="no" allowfullscreen=""></iframe></div> <div></div> <div></div> </figure> <h2 id="Network-Force:-The-Unseen-Hand "><span class="italic">Network Force: The Unseen Hand </span></h2> <p>Adam Smith published The Wealth of Nations in 1776. In it, he envisioned markets with thousands of individuals pursuing their own independent self-interest as creating an “invisible hand” that unintentionally promoted the good of society. This “free-market model” allowed him to point out the math and mechanisms behind the emergence of large-scale social order.</p> <p>Here we want to do the reverse — to use a “network model” to characterize the large scale human social orders and explain how they impact each of us with an often unseen hand.</p> <p>In short, the networks of human connections in your life create a force that guides you down a path not always fully of your intention, through the mechanism of 100s of small interactions.</p> <p>Further, this “network force” compounds over time. The longer your relationships, cliques, and communities persist, the more they shape your destiny.</p> <p>Sociologists regard the evolution of our lives as resulting from a combination of our own choices and preference and the force of our surrounding social network structure.</p> <p>Observing our own lives, and watching as 100s of founders move through their own journeys, we would go even further in the belief that it’s network forces that influence the majority of how our lives turn out. And 90% of those network forces are established in just 7 crossroads or pivotal life events.</p> <p>Given the power of network forces on your life, they should be the primary consideration when making decisions at these crossroads. Although it may feel like a complex decision in the moment, they become simplified when seen primarily through the lens of joining and forming new networks and changing the network topology of your life.</p> <p>The world seems chaotic. But it’s not. Underlying all this apparent complexity is some wonderfully simple math. Follow the math to your destination.</p> <p>Understanding the primacy of networks will give you a superpower to see what others do not and navigate life’s big decisions more effectively.</p> <h2 id="Seeing-the-Math-at-Work-in-Your-Life">Seeing the Math at Work in Your Life</h2> <p>Math underlies elements of the social sphere in ways we don’t always see. In spooky ways.</p> <figure id="w-node-00ddd007705e-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image"><img alt="Underlying it all is math. Always back to the math." loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=3840&q=75"/><img alt="Underlying it all is math. Always back to the math." loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnderlying-it-all-is-math.-Always-back-to-the-math..jpg&w=3840&q=75"/></figure> <p>Here are a few examples of how math drives the large and small scale social orders we experience every day. After that, we’ll get to how the network force should guide your decision making in the 7 crossroads of your life.</p> <h2 id="Zipf’s-Law-and-You">Zipf’s Law and You</h2> <p>Did you know the frequency of the words you use are determined by an underlying mathematical pattern?</p> <p>What’s stranger is that same mathematical pattern seems to determine <a href="https://www.nature.com/articles/srep00812" target="_blank" rel="noopener noreferrer">the sizes of cities within a country</a>, <a href="https://www.theguardian.com/commentisfree/2011/nov/11/occupy-movement-wealth-power-law-distribution" target="_blank" rel="noopener noreferrer">income distributions of people within an economy</a>, income distribution among <a href="https://www.sciencedirect.com/science/article/pii/S0378437199000862" target="_blank" rel="noopener noreferrer">companies</a>, <a href="https://www.nngroup.com/articles/zipf-curves-and-website-popularity/" target="_blank" rel="noopener noreferrer">how much traffic goes to different websites on the Internet</a>, <a href="https://www.jstor.org/stable/1402733?seq=1" target="_blank" rel="noopener noreferrer">how often last names are used in a society</a>, the <a href="http://www-personal.umich.edu/~mejn/courses/2006/cmplxsys899/powerlaws.pdf" target="_blank" rel="noopener noreferrer">number of phone calls people receive</a>, <a href="https://pdfs.semanticscholar.org/f2d7/5bb066e2cf25391a428b050e3e75d5440a61.pdf" target="_blank" rel="noopener noreferrer">the number of people who die in wars</a>.</p> <p>This mathematical pattern is a power law known as <a href="https://en.wikipedia.org/wiki/Zipf%27s_law" target="_blank" rel="noopener noreferrer">Zipf’s Law</a>. It was first noticed as a principle of language. About 100 years ago, physicists and linguists discovered that the second most commonly used word in English is used one half as much as the most used word. The third most used word is used one third as much as the most used word, so forth down through <span class="italic">all </span>the words in a given language.</p> <p>This law turns out to hold not just in languages, but in many other cases. The world looks complex or chaotic on the surface, particularly in social matters and perhaps your own life, but underlying what we see are simple rules of math.</p> <p>The underlying mechanism for Zipf’s law is not yet agreed on but the main hypothesis is that it’s an outgrowth of the <a href="https://en.wikipedia.org/wiki/Principle_of_least_effort" target="_blank" rel="noopener noreferrer">Principle of Least Effort</a>. In short, systems that survive and operate at steady state optimize for efficiency. When they do, things tend to look like Zipf distributions.</p> <p>Related to your life, an even stranger implication of Zipf’s Law is that unconscious network forces will act on anyone or any company that gets to be an outlier in one or more of these distributions. Bringing you back in line — or bringing another person or company back in line to make room for your new numbers — will happen without any conscious or intentional force at play.</p> <p>This is a bit spooky. It means that the number of inhabitants of NYC constrains and influences the number of inhabitants of LA, Seattle, Chatanooga and all American cities in some unseen way because they are all part of the network of US cities. Even though we are each making what feel like independent decisions about where to live, it seems that we are part of this network unconsciously influencing people to keep American cities on the Zipf distribution line. I am one of those people being pushed around. And so are you.</p> <p>That also implies that my income is somehow influenced by other incomes that surround me as my income fits into the Zipf Law curve. And my country’s GDP is influenced by other countries’ GDPs.</p> <p>If math is underlying all this, what else in my life is being affected by the larger social order?</p> <h2 id="Your-Body-and-Cities-Have-Predictable-Mathematical-Patterns">Your Body and Cities Have Predictable Mathematical Patterns</h2> <p>Systemic efficiency also drives other mathematical laws that govern how our lives look. Another example is the ¾ scaling law that shows up everywhere in the world as pointed out by Geoffrey West in his 2017 book <a href="https://www.amazon.com/Scale-Universal-Growth-Organisms-Companies/dp/014311090X/ref=sr_1_1?crid=1O9SNL42UCCKF&keywords=scale+geoffrey+west&qid=1578947224&sprefix=scale+geoffre%2Caps%2C202&sr=8-1" target="_blank" rel="noopener noreferrer"><span class="italic">Scale</span></a>. The cells and energy systems of living things scale up in predictable patterns. A mammal that is 200% the size of another will only consume 150% of the energy. That’s because our cells and capillaries have evolved to be the most efficient fractal network transport system for conveying energy and nutrients to a 3D body. Those same underlying mechanisms drive the math of when you’ll die and why you stop growing taller.</p> <p>This biological fractal network is very similar to the fractal network of a city that has evolved to provide energy and transportation to keep the city alive. The empirically measured numbers for cities are 17/20 scaling, still pretty remarkable energy gains for the city based on its network effect, and still consistent across nearly all cities.</p> <p>It’s remarkable to think that city planners could actively try to violate the 17/20 scaling rule for cities, and the network would actively work against them in unseen ways to pull the city back to 17/20.</p> <h2 id="How-do-nodes-on-a-human-network-work?">How do nodes on a human network work?</h2> <p>Nodes, which in this case are people, exchange a host of things. Sometimes consciously if I pay you from my bank account, sometimes unconsciously like when you overhear me at dinner telling someone about how I coach founders during walks and you decide to try it with your employees.</p>  <p>The things they exchange are… well… nearly everything. The most important ones for our discussions here are ideas, capital, connections, jobs, status, aspirations, language, requests, standards, expectations, affirmation, criticism, belonging, and physical space.</p> <p>The nodes exchange more of these things when the friction is low due to physical proximity, interaction frequency, tribal trust, similarity, etc. The nodes also exchange more when the benefit is high due to resources gain, status gain, tribal trust gain, etc.</p> <figure id="w-node-00ddd007705e-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image"><img alt="Unconscious and Conscious Network Exchange Image" loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=3840&q=75"/><img alt="Unconscious and Conscious Network Exchange Image" loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FUnconscious-and-Conscious-Network-Exchange-Image.jpg&w=3840&q=75"/></figure> <h2 id="In-Networks,-The-Rich-Nodes-Get-Richer">In Networks, The Rich Nodes Get Richer</h2> <p>Most things that happen in society are multi-turn and repetitive. These are called <a href="https://en.wikipedia.org/wiki/Preferential_attachment" target="_blank" rel="noopener noreferrer"><strong>preferential attachment processes</strong></a> which happen when something (such as money, status, fame, punishment) is distributed based on how much is already possessed. Most social processes are preferential attachment. For example, if two Founders each tweet out the same great idea at the same time, the one with more status will be given credit for the idea.</p> <p>What’s fascinating is that this is because of math. Nodes that are “ahead” get picked more often by the other nodes because they are ahead and thus offer the nodes choosing them less friction and more benefit. When this gets repeated many times, it systematically directs more resources to the nodes that already have relatively more.</p> <p>This pattern has been so prevalent for so long, and has been so annoying to the majority of people, who, by definition are not in the lead, that it’s mentioned in one form or another at least five times in the Bible, most famously in Matthew: “For to everyone who has will more be given…” Now called <a href="https://en.wikipedia.org/wiki/Matthew_effect" target="_blank" rel="noopener noreferrer">Matthew Effect</a>.</p> <h2 id="The-math-behind-why-dinner-parties-behave-the-way-they-do">The math behind why dinner parties behave the way they do</h2> <p>If you want to have one conversation at a dinner table, 6 people is about the right number. Maybe 8, max. While that seems like a social decision you made yourself, the reasons behind it are mathematical. That number is similar for all of us because it’s based on how many possible two-way conversations (links) can exist between people (nodes) in a group. The formula (derived from <a href="https://www.amazon.com/Scale-Universal-Growth-Organisms-Companies/dp/014311090X/ref=sr_1_1?crid=1O9SNL42UCCKF&keywords=scale+geoffrey+west&qid=1578947224&sprefix=scale+geoffre%2Caps%2C202&sr=8-1" target="_blank" rel="noopener noreferrer">Scale</a>, pg. 317), it turns out, is:</p> <p>N * (N-1) / 2</p> <p>Where N is the number of people. If you have a group of six people, that’s 6 * 5 / 2 = 15 potential two-way conversations, which means that to focus on one conversation, you have to suppress 14 others. That’s possible without being too rude, but if you add just one more person to the group, the formula becomes 7 * 6 / 2 = 21. That’s an additional 6 conversations to suppress. That stretches our social skills to control.</p> <p>The larger point here is that when groups get larger, it’s an exponential change, not a linear one, and that affects social experience you have, how you interact, and ultimately how you feel. Whether it’s a dinner party, the size of your extended family, school, college, workplace, or a city, with <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-bible#the-network-laws">networks, the math behind</a> them puts impactful forces on how we all behave.</p> <h2 id="How-Networks-Form">How Networks Form</h2> <p>In theory, the people who inhabit each “layer” of your life’s network map could be anyone. All humanity is, after all, connected. As <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-archives#1-the-small-world-problem">Stanley Milgram famously showed</a> as far back as 1967, there are a maximum of 6 degrees of separation between you and any other person in the US. With the advent of the internet and global social networks like Facebook, that number may be even lower — as low as <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-archives#8-three-and-a-half-degrees-of-separation">three and a half degrees</a> according to a study conducted by Facebook in 2016.</p> <p>But in practice, relationships don’t form at random. 5 conditions contribute to the depth and speed at which they form:</p> <ul> <li><strong>A context for frequent, repeated interaction with a new group of people (</strong>e.g. a new school, job, church, club, dorm, living situation, etc.).</li> <li>A <strong>high degree of overlap</strong> between relationships in the new group.</li> <li>A transition period where people are open to<strong> changing or evolving their identity. </strong></li> <li>A high <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-bible#network-density"><strong>density</strong></a> of people in <strong>geographic and network proximity.</strong></li> <li>Go through <strong>something hard</strong> and perhaps fear-inducing together.</li> </ul> <p>So you can see why high school, college and your first job are such important life stages. All 5 of these conditions are present.</p> <h3 id="What-Does-Your-Network-Want-from-You?">What Does Your Network Want from You?</h3> <p>You are not just the recipient of value from your network. The people and nodes in your network want and expect an exchange from you, too. They want you to validate them and support them. You are in a dialogue with the network force. As Obi-Wan says about The Force in the original Star Wars movie:</p> <blockquote><p>‍Kenobi: A Jedi can feel the Force flowing through him.</p></blockquote> <blockquote><p>Luke Skywalker: You mean it controls your actions?</p></blockquote> <blockquote><p>Kenobi: Partially, but it also obeys your commands.</p></blockquote> <p>The network force is similar. You don’t always see it, but it is exerting itself on you.</p> <p>It wants something from you. Your network force proactively guides you down a path. So be careful which sub-networks and people you add into your network.</p> <p>When you start to see that dialogue between you and your network, the push-pull, you see it everywhere. The chaos of the world diminishes a bit and becomes more understandable and predictable. And you understand more why things are the way they are and why they stay that way. Hopefully, it will also give you insights as to where you can push to change things that should be changed, not just about you, but about your company, your city, and your world.</p> <h2 id="Your-Life’s-Crossroads">Your Life’s Crossroads</h2> <p>Let’s look with new “network force” eyes at the crossroads each of us face. This list of crossroads is intuitive, but few of us explicitly understand the math that guides our choices and the gravitational force our networks exert on our lives.</p> <p>And further, like asteroids colliding in space to form larger asteroids, at each crossroads we pick up greater “network mass”, increasing our network gravity and exponentially heightening the energy costs of changing course.</p> <figure id="w-node-00ddd007705e-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image"><img alt="Life asteroids colliding in space to form larger asteroids, at each crossroads we pick up greater " loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=3840&q=75"/><img alt="Life asteroids colliding in space to form larger asteroids, at each crossroads we pick up greater " loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FLife-asteroids-colliding.jpg&w=3840&q=75"/></figure> <p>The conclusion is that the compounding, nonlinear math of networks means that they should be the primary consideration in our big life decisions.</p> <h2 id="The-Network-Topology-of-Your-Life">The Network Topology of Your Life</h2> <p>There are three levels of networks you’re a part of.</p> <figure id="w-node-01a06d004a30-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image" style="max-width:2500pxpx"> <div><img alt="" loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=3840&q=75"/><img alt="" loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FPeople-Digital-Network.jpg&w=3840&q=75"/></div> </figure> <p>Within the “People Network”, you are a member of many networks. Your family, your high school classmates, college alumni, company alumni, the people from an activity you do like a soccer team or volunteering, the people who work in your building, the people who live on your street, the people at the gym you go to.</p> <p>The intensity of each of the links between you and the other nodes in your networks, it turns out, will follow Dunbar’s law, which appears to be based on the fundamental structure of your brain. We each tend to have 5 people who are like family, 15 intimates, 50 acquaintances, and 150 total familiars that we can interact with on a regular basis. Beyond these approximate limits, humans don’t do so well.</p> <figure id="w-node-01a06d004a30-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image" style="max-width:2500pxpx"> <div><img alt="Motivation: Social Brain Theory" loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=3840&q=75"/><img alt="Motivation: Social Brain Theory" loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FMotivation-Social-Brain-Theory.jpg&w=3840&q=75"/></div> </figure> <p>You are a node in each of the networks to which you belong. The other nodes – people – give you your ideas, your words and phrases, your assumptions, your desires, your fears and your beliefs. They give you your belonging, your affection, your shame, your fear, and your hopes.</p> <p>To make an analogy, imagine that the things that these nodes all give you show up on your life dashboard as you navigate life. They appear with a lot of numbers. Probabilities, rewards, costs, frictions. You make your decisions reading this dashboard and what the network presents to you there. You have agency and free will in making your decisions. You look at the math of each decision and make the best decision you can at every point.</p> <p>The mathematically obvious path will feel like “the right decision.” But note that what even shows up on your life dashboard is put there by your network. And the math associated with each option — the rewards and frictions and probabilities — are determined by your unique network. And your network is the result of the network decisions you made during the few crossroads moments in your life.</p> <figure id="w-node-01a06d004a30-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image"> <div><img alt="What shows up on your life dashboard is put there by your network. And your network is the result of just a few crossroads moment decisions in your life." loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=3840&q=75"/><img alt="What shows up on your life dashboard is put there by your network. And your network is the result of just a few crossroads moment decisions in your life." loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhat-shows-up.jpg&w=3840&q=75"/></div> </figure> <p>What that means is that the little decisions you make daily, the ones you fret over, are orders of magnitude less important than the crossroads decisions you make. This is true because those decisions have been placed in front of you by your network and are mostly a function of your network, and they don’t typically bridge you into whole new networks and new ideas and options.</p> <h2 id="Crossroad-#1-–-What-Family-You’re-Born-Into">Crossroad #1 – What Family You’re Born Into</h2> <p><span class="italic">You don’t get to choose this one. For better or worse, your family is the fundamental layer of your network topology. Seeing your family through the lens of the network forces model can reveal the hidden depth of that influence. </span></p> <p>Network clusters influence us in proportion to how frequently we interact with them, how early we adopt them, how strong and reciprocal our ties are with the other members, how much they are reinforced by overlapping shared connections, and how long we expect them to last.</p> <p>In all of these measures, few of our other networks in life can rival family:</p> <ol> <li>Since you usually live in the same house with your family for a large part of your life, geographical proximity makes frequency of interaction extremely high and friction to interact low.</li> <li>Your individual relationship with one family member — usually a strong tie — is reinforced by all the other family members you share in common.</li> <li>We expect family relationships to persist throughout our entire lives, an expectation formalized in most human cultures as a deeply-embedded social norm. There’s a long “shadow of the future” with our family members. We know they’ll always be there, so we’re willing to invest and sacrifice for our family relationships more than for non-family.</li> <li>Family ties have higher bandwidth than others because we see labels like “mother” or “son” as identity-defining. Family relationships straddle the line between who you know and <span class="italic">who you are</span>.</li> <li>Future relationships outside the family network, e.g. friends, dates, etc., will be impacted and reinforced by your family. The closer you get to someone, the more they interact with your family, and the more likely it becomes that they develop their own ties with your family members.</li> <li>All of the powerful factors above are superimposed by, and reinforced with, our biological drive to connect with others who share our genes.</li> </ol> <p>Now that we can see how families are uniquely influential relative to other networks, it’s clearer why we so often adopt our cosmological, religious views, linguistic dialect, political leanings, dietary preferences, and worldviews from them — despite such things not being genetically heritable.</p> <p>You go through life thinking such things are innately “you”. But you didn’t adopt your identity in a vacuum. Had you been raised by a different family, you would likely be a very different “you” — Your religion, linguistics, political orientation, favorite foods, worldview would probably be very different despite such things not being genetically heritable.</p> <p>Our family network impacts what networks we are exposed to and which ones we are constrained from. Family nodes have preferences, and push links to other networks on us in the form of introductions to schools, places to live, jobs, and spouses. There are also prohibitions on fraternizing with the “wrong” nodes in certain networks.</p> <p>Your family is a low-friction, high-impact network. Because of that underlying math, when making life decisions most people will choose the options that most align with their core family network.<strong> </strong>Be aware of this if you want to be more conscious in directing where your life path will lead.</p> <p>Your family network is the one you don’t get to choose, and in that sense, it’s not fair. But it’s not destiny. Think of it as another network force — albeit a very powerful one — that puts data on your dashboard.</p> <h2 id="Crossroad-#2-–-High-School-Network">Crossroad #2 – High School Network</h2> <p><span class="italic">High school networks are especially important because they are influential when we are forming our identities and worldviews as young adults. High school networks are also correlated with academic achievement, work habits, and even college admission — defining access to future networks and building a vibrant life of your choosing. </span></p> <p>Like family, where you go to high school isn’t usually a choice. But if you do have this option still ahead of you, or if you have children and can choose for them, don’t underestimate its importance.</p> <p>High schools are typically the first peer networks we join that are large enough to have a diverse array of subgroups — better known as high school cliques. As such, they present us with our first significant network-based decision: who to associate with in high school.</p> <p>The importance high-schoolers place on “popularity” — their status in the social hierarchy of their peers — shows that we intuitively understand the importance of networks even at an early age. In seeking status or popularity, we are, in part, looking to maximize our options in terms of which cliques we can elect to join or form. For most teenagers, that optionality matters deeply.</p> <p>How does status work? Why does status give you options? Because status lights up the network. It’s a pure shot of preferential attachment we mentioned earlier. Sure, nodes on the network with money attract more money. Nodes with more access attract more access. Nodes with more attention attract more attention. But nodes with status attract all of the above. Nodes of all types want to associate with high-status nodes because it will improve their own status.</p> <p>Winning status becomes the singular focus of life for many teens, and not a few adults persist in that goal. Adult parents of a high school teen may see it as melodramatic or irrational how much their kids care about their status, reputation, and friends at that stage in life — especially compared with more “important” things like academic accomplishment.</p> <p>But from the vantage point of a teenager, social obsession is quite rational. Teens intuitively understand that their high school destiny depends on their network of friends. And though it’s easy to dismiss teenage behavior as irrational and hormonally driven, there are serious consequences to the networks we join early in life.</p> <p>For example, <a href="https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4335644/" target="_blank" rel="noopener noreferrer">academic achievement in high school has been shown to be directly influenced by friends</a>. “High-achieving students strive for high-achieving friends, low-achievers strive for low-achieving friends … [and] the differences in achievement between the high and low achievers will be exacerbated by the friends they make.</p> <p>According to one 2011 Harvard study, all kinds of traits, <a href="https://blogs.cornell.edu/info2040/2011/10/03/social-networks-and-public-health-the-hidden-influence-of-social-networks/" target="_blank" rel="noopener noreferrer">from body weight to happiness</a>, are heavily influenced by network clusters. Throughout your life, your “clique” helps define you. The same study also found that the presence of friends in class has a positive and significant effect on test scores.</p> <p>Moreover, as your first peer-based network you form after you’ve come of age, your high school friends have a particular influence on your lifelong identity — from your tastes in music, to your work ethic, your fashion sense, and your life aspirations — which is only rivaled by family, and in some cases even surpasses it.</p> <p>It’s not just during high school that high school networks matter. Those who go to college and build a career in the same cosmopolitan area as their high school are likely to retain some parts of their teenage cliques throughout their lifetime, usually forming a core part of their network.</p> <p>All this network force taken into account, which high school you go to matters a lot. Imagine the impact of moving a kid from, for instance, Taiwan or Spain to the US, or vice versa, for high school. How much of a difference would that make to the trajectory of a person? The networks presented to them? The ideas, the sports, the foods, the language, the friends, etc. Imagine moving from Arkansas to, for instance, Phillips Exeter Academy in New Hampshire for high school. Intuitively, we know this will make a difference. But we see the mechanics of that difference more clearly when we see it through the lens of network forces.</p> <p>When navigating the question of which high school to attend or — if you don’t have a choice — who to make friends with as a high school student (or which kinds of people to encourage your kids to befriend if you’re a parent, although good luck with getting them to listen), ask yourself the following questions:</p> <ul> <li><strong>How big is the high school? </strong>The bigger the high school, the bigger the alumni network, which may influence your ability to choose future networks like college, spouse, and jobs.</li> <li><strong>How diverse is the school so you can find nodes and sub-networks that fit you best? </strong>With more options, there is a higher probability you can find a high achieving sub-network in an area you can be ambitious and high achieving.</li> <li><strong>How strong is the affinity of school graduates? </strong>Higher affinity indicates stronger network links between nodes in the network, that the network is more valuable to the graduates. How much do they brag that they went to that high school? How often do they come back for reunions? How passionate are they about the brand of the school? Do they use it as a strong identity peg or are they indifferent? Those would indicate stronger network links between nodes in the network.</li> <li><strong>How important is academic success to <span class="italic">high-status students </span>in this high school? </strong>The more that popularity / status positively correlates with academic success, the more that short-term social incentives will be aligned with achievements that will serve you or your kids in the long term.</li> </ul> <p>Parents and ambitious teens often mistake high school for a competition to get into a good college, either through academic achievement or sports. By focusing on the sound and fury of competing for grades and spots on the varsity team, they miss the higher importance of the network dynamics at stake. In high school, putting yourself in a position to form a large number of strong relationships with the right network nodes can make all the difference, not to “get ahead” but to create a vibrant, amazing life of your choosing.</p> <h2 id="Crossroad-#3-–-College-Network">Crossroad #3 – College Network</h2> <p><span class="italic">You should choose your college based on its network of students and the geographic network they inhabit more than course of study or sports teams. If you choose the right people to be around in college, they will open up ideas, relationships, jobs, aspirations, attitudes and resources that fit with you and a virtuous cycle will be set in motion. Your network will ask you to be your best self and live your best life, like a trainer at the gym. In this way, your college network will have an exponential impact on your life.</span></p> <p>College networks have many characteristics that make them powerful</p> <ol> <li>Geographic density creates frequent interactions between the nodes, giving network bonds a chance to form and strengthen.</li> <li>There’s a long duration of network formation. 4 years is a long time. A lot happens in 4 years.</li> <li>A closed, selective network. This is powerful for three reasons. A) Your reputation matters. People are more likely to have heard about you via a third party, and treat you differently according to your reputation. B) If you meet another student, the chances of them knowing someone you know is much higher than someone you meet outside of the closed network. There is a high degree of <strong>network overlap </strong>between you and other students, and as network theory predicts, shared connections between two people vastly heighten the chances of them forming a strong bond. C) The likelihood of repeat interaction between students is very high.</li> <li> Like with family, these networks cross from who you know to who you are. Identity formation takes place at this age and are thus likely to last longer.</li> <li>When you choose a college, you are also choosing a geography. People tend to end up working and living in the same geographical proximity as their college, keeping them close to their college friends.</li> <li>People tend to end up working in the same industries as the people in their college network.</li> <li>It’s considered a social norm that you should build and value your network in college, so others are more receptive to building new and strong bonds.</li> <li>Given your biological age, it’s a good time to look for a partner. The network upshot of this is that many people will find their spouse at college, or at least find someone who they think likely to be their spouse in the future, which impacts big life decisions such as where to live after college. As we’ll see, this is actually a huge decision — and letting your dating life dictate where you live isn’t usually a wise choice.</li> <li>College teaches you the idea that you will know these people the rest of your life, so like family, there is a powerful shadow of the future that makes the bonds stronger and more numerous.</li> <li>All of the above elements reinforce each other.</li> </ol> <p>To see what this means in practice, consider the following scenario:</p> <p>As a freshman, you meet someone in class. Let’s call that person Sally. You and Sally have some things in common, and you get along fine. If you were asked to rate your affinity for Sally, it would be a 6 out of 10. Since you share a class together, you’ll see each other maybe twice a week for at least six months.</p> <p>You’ll interact regularly and frequently — and even after this semester, there’s a high likelihood that you’ll see Sally around campus, share friends with her who might invite you both to the same parties or get-togethers, or participate in the same extracurricular activities. All of this is the result of you being members of the same closed network and sharing the same geographical and institutional circumstances.</p> <p>Now suppose that, the same day when you first meet Sally, after class you go to a party off campus where you meet Bob. Bob doesn’t go to your school, doesn’t have any shared connections with you, and doesn’t live near you. But he does have a lot in common with you, and you spend all night at the party hanging out because you share so many interests and have so much chemistry. If you were asked to rate your affinity with Bob, it would be a 10 out of 10.</p> <p>4 years later when you graduate, which friendship is most likely to have survived? How much does the math of network formation matter compared to your own preferences and agency?</p> <p>Mutual affinity isn’t the only thing that matters in choosing friends. It’s not even the biggest factor. Network force swamps other factors. Taking it into account, the model for relationship development doesn’t just include mutual affinity. Instead, it looks more like this:</p> <p>Likelihood of forming a relationship = Mutual affinity * frequency of interaction * duration of interaction * geographical proximity * network proximity * number of shared connections * etc…</p> <p>Bob might be a 10 in that first factor of mutual affinity, but in all the others he’s a 1.</p> <p>Sally, on the other hand, may be a 6/10 in terms of personal affinity, but she’s a 10/10 in all the other ways, each of which serves as a multiplier on the likelihood of you interacting and developing a lasting relationship with her.</p> <p>Another way of looking at it is that the friction of hanging out with Sally is much lower than hanging out with Bob — it takes 10X less effort to hang out with Sally. So over time, the math of inhabiting a shared network — the network gravity — makes it hundreds of times more likely to become lasting friends with her than with Bob.</p> <p>This is a rough illustration of the mathematical power of networks in shaping behavior. As we see, networks impose real constraints on how you make decisions, not only in who you are likely to end up befriending, but the career opportunities, dating choices, beliefs, and information that you’ll end up sticking with.</p> <p>Network proximity makes some options more appealing than they would be in a vacuum, while network distance can impose a high friction on other options — like being friends with Bob, or choosing to adopt a belief system, a fashion sense, or industry job too different from those of the other people in your proximal network.</p> <p>So if you are choosing between colleges, or know someone who is, consider the following questions:</p> <ul> <li><strong>Where do most of the alumni of this college end up living?</strong> When you choose a college you are also choosing a regional network. If you go to school in California, for example, your friends and job offers will end up being mostly in that region. I don’t recruit at my alma mater Princeton anymore because it’s so low probability to pull a Princeton grad out of the NYC-DC-Boston orbit. I tried for four years, and each of the people I was recruiting did the math on their own life dashboards, saw the numbers put there by their networks, felt the network gravity, and each made the rational decision to stay on the East Coast. One candidate stayed in NYC to move into an apartment with their college friends and work at Goldman Sachs who recruited heavily on campus, one hour from their office in Manhattan (low friction due to geographic network). Another moved back to Boston to be near to their girlfriend who was finishing up at Brown, and their parents in the suburbs. They each “really wanted” to join a startup, but network gravity and network math were too much.</li> <li>Now think about how the math continues to cascade through the network. Princeton hopes that I continue to be an active recruiting node on the network, providing the students with great employment options. But my cost/reward math doesn’t work. The denominator is zero. So Princeton lost a recruiter node in their network for now. Further, now those student nodes back on campus don’t hear from me. I and people like me don’t add our numbers to their life dashboards saying “work for a startup in SF.” So the math for other ideas like Goldman Sachs and McKinsey gets stronger over the years. The strong get stronger. Again, preferential attachment in the network. Students look at the network math on their life dashboards and they choose the mathematically correct choice.</li> <li><strong>What kind of career or industry do alumni of this college typically work in?</strong> Here’s an example of how this works. My 23-year-old nephew went to Trinity College in Connecticut. Most of the students from that college end up working in finance in NYC or Boston. Guess what my nephew now does? He works in finance in Boston. He followed the least resistance path, leading him to the highest paying, highest status outcome similar to his network. Is his choice of job about his own unique abilities and interests? No. It’s the math of the networks. He made the correct choice based on the options presented on his life dashboard by his networks.</li> <li><strong>Do you relate to the other students naturally? </strong>Will they relate to you? Do the students represent the type of aspirations, lifestyle, and interests you want for yourself? There’s no point in joining a network where you won’t actually bond with the other nodes, no matter how prestigious that network is.</li> <li><strong>How big is the college? </strong>The bigger the college, the bigger the alumni network. The bigger the alumni network, the more weak ties you have, which are great for career, marriage, and a host of other life attributes. Harvard Business School has figured this out and has classes of 900 compared to Stanford and MIT Sloan of 400.</li> <li><strong>How strong is the affinity between graduates?</strong> Like with high school, how much do alumni brag they went to that college? How much do they come back for reunions? How passionate are they about the brand of the school? Do they use it as a strong identity marker or are they indifferent?</li> <li><strong>Is it clear what it says about the graduates that they went to that college?</strong> A clear, strong brand lights up other networks because external nodes know what to expect from you if you’re a member.</li> </ul> <p>In addition to that, and I suspect this will be controversial, you should probably <span class="italic">de</span>-emphasize questions like:</p> <ol> <li>Where does the college rank in US News & World Report college prestige list that dates back to 1981</li> <li>Are the classes amazing?</li> <li>Is there a sports team I’m keen to play on?</li> <li>Is there a particular professor I want to work with or a particular major I want to pursue? Only <a href="https://www.washingtonpost.com/news/wonk/wp/2013/05/20/only-27-percent-of-college-grads-have-a-job-related-to-their-major/" target="_blank" rel="noopener noreferrer">27% of college grads</a> end up with a job closely related to their major.</li> </ol> <p>College is possibly best seen as a place for network formation, and creating the network topology you want. The network you join will lead you to a geography, a type of work, certain ideas about life, and a group of dating/marriage options that will all have a big influence on your life. All that network force will be pushing on you to then take the mathematically obvious path from there, one which will feel like the “right decision”.</p> <h2 id="Crossroad-#4-–-First-Job">Crossroad #4 – First Job</h2> <p><span class="italic">The professional relationships you form during your first job are the seed of your professional network which influences the arc of your career — from how you think about work, to how you’re known, to the geography where you have advantaged job access for a long time. </span></p> <p>In working life, you see your coworkers every day of the week for 8 or more hours per day. The frequency of interaction with coworkers, at this stage in life, may be even higher than what you have with your family.</p> <p>Prevailing wisdom says you should pick your first job based on the highest income, or the one that you’re most passionate about, or the skills you’ll learn, or where the day to day will be the most energizing for you.</p> <p>All of this is flat wrong. In your first job, go work with people whose career path you want to emulate. Optimize for network.</p> <p>The early professional relationships you form will have a bigger influence on your skillset, your lifetime earning potential, and the mastery of your craft than the particulars of your job description, the income, the company perks, or the brand name on your resume.</p> <p>In almost every field — from theoretical physics to growth marketing — top performers were mentored, influenced by, or otherwise connected to other top performers.</p> <p>There are a couple of reasons for this. First, as we saw in the high school section, high achievement is communicable. Surround yourselves with high achievers, and probability is on your side, you will become like them.</p> <p>Second, innovation is contagious. If your first job is at a place that’s a breeding ground of innovation, the chances are a lot higher that you’ll come across some really good ideas — especially if you want to start a company one day.</p> <p>The PayPal Mafia was no coincidence. Network clusters are capable of producing multiple future billionaires. There is no upper price, in terms of effort, difference in income, or even cost of living, that can even close to compare to the upside of being part of a network of high achievers in your first or second or third job.</p> <p>So, when making a decision about where you want to work, instead of asking:</p> <ul> <li>Will this give me the work I want to do daily?</li> <li>Is this the best offer I got in terms of income?</li> <li>Does this company look good on my resume?</li> <li>Does this company let me take as much vacation as I want, have free catered lunches, and a fancy office?</li> </ul> <p>Do yourself a favor and ignore all of it. Focus on these questions instead:</p> <ul> <li>Is this job in the right city? The city I want to live in long term?</li> <li>Will I like and respect my co-workers? Will they like and respect me?</li> <li>Do I want to be like my bosses someday?</li> <li>Do my co-workers career aspirations match mine?</li> <li>Am I going to be working with the best?</li> <li>Is there a strong culture and camaraderie?</li> <li>Will I have opportunities to prove myself to others at my company to build my network bonds?</li> <li>Are employees proud of their company and their brand? Do they enthusiastically recruit? Do they seek each other out when outside of work? This indicates strong network bonds are forming.</li> <li>Are there <a rel="noopener noreferrer" href="https://www.nfx.com/post/building-strong-companies-the-no-politics-rule">politics in the office</a> that could threaten the building of strong network bonds?</li> <li>Lastly, because top performers tend to congregate in rising companies, if it’s a startup, ask if it has strong potential <a rel="noopener noreferrer" href="https://www.nfx.com/post/defensibility-most-value-for-founders">defensibility</a> against competitors, especially <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-manual">network effects</a>, and whether it has the <a rel="noopener noreferrer" href="https://www.nfx.com/post/9-habits-world-class-startups">9 habits of world-class startups.</a></li> </ul> <h2 id="Crossroad-#5-–-Marriage/Choosing-a-Life-Partner">Crossroad #5 – Marriage/Choosing a Life Partner</h2> <p><span class="italic">Marriage, or choosing a life partner, is one of the most important decisions you make in life. It could be the source of your greatest joy and/or your greatest suffering at a very personal level. In terms of the network model, it’s powerful because you are choosing someone else’s full network to add to yours. This person will also share the very center of your network hierarchy with you.</span></p> <p>In many cases, this person will produce your children with you. Not only will parenthood be a focus of a lot of your life’s energies, but in addition, your children’s full networks will be added to yours for the rest of your life.</p> <p>Children are shaped by how you nurture them as parents, and as we’ve seen earlier in the discussion of family, they are shaped by the networks brought to them by their parents. Your children are brought into, and partially inherit, the networks of both parents.</p> <p>For 60% of people, how you meet their significant other is determined mostly by who you know and who you get introduced to, although that’s changing with the “digital people network” layer beginning to break down geographic networks and other closed networks. In 2017,<a href="https://qz.com/1546677/around-40-of-us-couples-now-first-meet-online/" target="_blank" rel="noopener noreferrer"> 39% of all US marriages originated by meeting online</a>.</p> <p>“It is one of the most profound changes in life in the US” and the best example of what we’ve been hoping the Internet might do for a long time — moving from unchosen network forces constraining options to a global, digital network empowering your own preferences and agency.</p> <p>I ran the largest self-assessment testing and matchmaking company in the world. We had 150M users and 10s of personality tests written by my staff of 5 PhDs to help people connect better. We also ran a matchmaking site with 30 million users that took advantage of those tests to match people. What my team told me at the time was that the most successful marriages were ones where 1) the two people were the most similar, and 2) they had shared network connections.</p> <p>What this means is that when you’re dating someone, you’re not just dating them. You’re dating their networks — their friends, family, and colleagues. And vice versa.</p> <p>Compatibility between two people in terms of their individual characteristics is sometimes much less important than the compatibility between their networks. This is one possible reason why there is a surprisingly low divorce rate amongst arranged matches made solely on the basis of compatibility between kin networks.</p> <p>Although online dating is gaining ground, meeting through friends is <a href="https://www.technologyreview.com/s/609091/first-evidence-that-online-dating-is-changing-the-nature-of-society/" target="_blank" rel="noopener noreferrer">still the most common way to meet someone</a>. Further, what the statistics don’t yet show is how many of the 39% who met online had strong affinity networks already in place before meeting online, but just needed to shortcut the longer, in person, process with the tech layer to find each other.</p> <p>So how do you find a spouse?</p> <p>This is where Mark Granovetter’s famous work on <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-archives#2-the-strength-of-weak-ties">The Strength of Weak Ties</a> becomes relevant:</p> <blockquote><p>“The stronger the tie between [two individuals], the larger the proportion of individuals to whom they will <span class="italic">both </span>be tied.” – Mark Granovetter</p></blockquote> <p>Given this, everyone in your “inner circle” probably already knows each other. The closest friendships you have, because of the structure of social network clusters, will have close to a 100% degree of network overlap with you.</p> <p>So what this means is that <strong>your closest friends are usually poor nodes in your network </strong>to pursue romantic interests. There are two possibilities if you go this route:</p> <ol> <li>(More likely) Your closest friends won’t be able to introduce you to anyone new.</li> <li>(More unlikely) Your close friends introduce you to a close friend of theirs that you didn’t previously know. You end up dating, and in the high percentage of cases where things don’t work out, the blowback from the ruined relationship wreaks havoc in your network cluster, forcing your friends to choose.</li> </ol> <p>That’s not to say that it’s impossible for people to become friends and then later become romantically involved. But for the purposes of meeting someone new, friends of the inner circle of your network map are not the place to start.</p> <p>This is where your acquaintances — the weak ties at the outer layer of your network map — become vital. As we know from the <a rel="noopener noreferrer" href="https://www.nfx.com/post/network-effects-archives#collective-dynamics-of-small-world-networks">work of Duncan Watts and Steven Strogatz</a>, acquaintances serve as vital “bridges” between tightly knit network clusters. For people looking to be exposed to new dating prospects, job leads, ideas, beliefs, or lifestyles that differ from what they’re used to, there’s no better way to do it than through an acquaintance.</p> <p>Smart questions to ask yourself when you’re single and looking to meet someone:</p> <ul> <li><strong>Which acquaintance is most likely to know a lot of people that you’re compatible with?</strong> Not all people have equally large networks, and some people you know may be “hubs” that have a large number of connections. If you can find someone like this, they are usually quite helpful in meeting new people. “Hubs” frequently have weak ties to a lot of different cliques, groups, and sub-networks. They’re usually happy to make introductions.</li> <li><strong>Do you get along with their friends? </strong>Do your friends get along with them? If you’re serious about the relationship, consider whether you’d be willing to bring those people into your life. If so, it’s a lot more likely that your relationship will last in the long haul.</li> <li><strong>Do you get along with their family? The importance of in-laws isn’t to be underestimated. It’s easy to dismiss this in a culture that preaches that true love is all you need, but network theory tells us differently. Your in-laws are the core network of the person you’ll be closest with in life. What may seem like minor issues at first can grow into powerful problems over the long course of a lifetime.</strong></li> <li><strong>Are you in the same geographic network?</strong> When a couple is geographically challenged, it puts a real strain on their relationship.</li> <li><strong>Could there be blowback if it doesn’t work out?</strong> Everyone knows why it’s a bad idea to date a coworker or someone else who you might see on a regular basis if you break up. Network forces are why. The same applies if you share a lot of mutual friends — especially if you ever get divorced. You put your friends in a position where they have to choose, and you risk losing some of the relationships you’ve built up over a lifetime. Don’t underestimate this risk.</li> </ul> <h2 id="Crossroad-#6-–-Where-You-Live">Crossroad #6 – Where You Live</h2> <figure class="w-richtext-align-center w-richtext-figure-type-image"> <div><img alt="Where Your Live Image" loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=3840&q=75"/><img alt="Where Your Live Image" loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FWhere-Your-Live-Image.png&w=3840&q=75"/></div> </figure> <p>Where to live powerfully impacts the relationships and direction of your life, in ways you may not even realize. When coming out of college, this is even more important to your life than your choice of job.</p> <p>As mentioned previously, physical proximity is predictive of network formation. Cities, from a network perspective, are like scaled-up colleges. Network density, frequency, similarity, and status accumulation all drive urban network formation. Cities do a great job of helping us form our networks because they are networks themselves, both physical and social.</p> <p>Where you live largely determines who you know. Who you know largely determines the richness of your life and your access to wealth and information. Your network is a form of wealth. It brings you friends, career opportunities, or a spouse.</p> <p>Committing to a geography and developing a network increases your access to all the experiences and resources you might want.</p> <p>As the great Saar Gur — Partner at CRV and investor in Doordash, Classpass, Patreon, Bird and many other well-known companies — said to me recently, “Staying in the SF Bay Area after business school was the most impactful decision I’ve ever made. Everything else was noise.”</p> <p>It’s certainly the most common life advice I give to people. Pick your city first. Everything flows from that. Your job, spouse, friends, income, and other opportunities flow from that core choice. The reason is network forces.</p> <p>It’s important to note that your “choice” of city may be greatly influenced by the network force from the earlier networks you’ve accumulated. Take note of that and steel yourself to have the courage to make what sociologists call a “major move” if you decide that move makes sense. (Hint: it most likely does).</p> <p>Making a clean break to move to the place that would facilitate your best life is hard. Network forces keep you on your path. The network wants something from you. Your boyfriend, a parent, high school friends, college friends, your weekend sports team, your roommate, your comfortable job.</p> <p>This is true for those of us lucky enough to have a lot of resources and equally true for those with far fewer resources. In <a href="https://www.newyorker.com/magazine/2015/08/24/starting-over-dept-of-social-studies-malcolm-gladwell?verso=true" target="_blank" rel="noopener noreferrer">this article in the New Yorker</a>, Malcolm Gladwell reported on research done by sociologist Corina Graif on people at the lower end of the socioeconomic spectrum who were forced to undertake a “major move” out of New Orleans by hurricane Katrina to growing cities like Houston.</p> <p>Interestingly, their standard of living ended up rising significantly just as a consequence of the move — even though they were forced to do it by disastrous circumstances. It turned out to be a positive move, but they would never have undertaken it if they hadn’t been forced to by a natural disaster. As Gladwell points out, it gave “them a chance to rethink what they do.” But more importantly, it gave them a new network-geographic context. New network forces. New resources, ideas, jobs, and commonly accepted standards.</p> <p>It could be that this dependence on location-based networks is changing thanks to the internet and telecommunications in general, since it’s now easier to maintain and form networks in spite of geographical distance. But we’re just 25 years into the digital world, and that process will take 50-75 more years to play out.</p> <p>In the startup industry, digital tools like <a href="https://signal.nfx.com/" target="_blank" rel="noopener noreferrer">Signal </a>and <a href="https://thecompanybrief.com/" target="_blank" rel="noopener noreferrer">The Company Brief</a> open up access to knowledge and communication formerly only available to people living in Silicon Valley for many years.</p> <p>Some people are able to use the internet to find, build, and maintain human networks — usually around a niche or interest like gaming, cars, or fashion. For most, the Internet simply reinforces or super-imposes upon the networks they build in real life. For everyone who doesn’t do most of their networking online, physical location matters.</p> <p>The network math of cities underlies their attractiveness, and helps explain why the planet is rapidly urbanizing. In short, because of a city’s network properties, as it gets bigger, it gives its citizens 15% more of what they want in terms of income, ideas, speed, and stimulation, and it costs 15% less to give it to them in the form of roads, electricity, water, gas lines, gas stations and safety services. That 30% gap is significant and is driven by a city’s network effects.</p> <p>The higher rate of social interactions in a city has important consequences for your ongoing network topology. Larger cities mean more access to network clusters, leading to a greater diversity of talent, ideas, and backgrounds versus smaller cities. It also means meeting new people will be easier, but forging strong bonds could possibly be harder.</p> <figure id="w-node-c6ddff472d04-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image"> <div><img alt="Your networks are a form of wealth." loading="lazy" decoding="async" data-nimg="1" class="block lg:hidden" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=3840&q=75"/><img alt="Your networks are a form of wealth." loading="lazy" decoding="async" data-nimg="1" class="hidden lg:block lg:cursor-zoom-in" style="color:transparent" sizes="100vw" srcSet="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=640&q=75 640w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=750&q=75 750w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=828&q=75 828w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1080&q=75 1080w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1200&q=75 1200w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=1920&q=75 1920w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=2048&q=75 2048w, /_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=3840&q=75 3840w" src="/_next/image?url=https%3A%2F%2Fcontent.nfx.com%2Fwp-content%2Fuploads%2F2020%2F02%2FYour-networks-are-a-form-of-wealth..jpg&w=3840&q=75"/></div> </figure> <p>With all this in mind, when deciding where to live, here are some questions to ask yourself:</p> <ol> <li><strong>Are the people in this city like me? </strong>Each city has a vibe that may or may not fit with you. Each city calls ambitious people to improve in some area. NYC calls you to earn more money. Seattle and Portland call you to recreate more. DC calls you to be more connected. SF calls you to create more, invent more. It’s the garage where the crazy uncle is inventing crazy inventions. If you can find a city that drives you in the way you want to be driven, then you’re in luck and you should settle down and build your network and your life with your people. If one city doesn’t call to you, find a sub-network of people that call to you in a city you don’t mind.</li> <li><strong>How long can you see yourself staying there?</strong> The networks you build when living somewhere atrophy when you move somewhere else. Your networks are a form of wealth, and every time you move, you’re resetting your bank account.</li> <li><strong>How important is your career to you?</strong> Because GDP scales nonlinearly with population size in cities, your career earnings will grow faster in a city than elsewhere. More importantly, the opportunity to build out your professional network and meet top talent in your industry will be higher in bigger cities.</li> <li><strong>How much do you enjoy a fast pace of life?</strong> In a big city, everything moves faster. People walk faster, opportunities arise more frequently, you meet new people and encounter new ideas more often. It’s all an inevitable consequence of greater network size and density.</li> <li><strong>How much do you enjoy or value meeting new people?</strong> If you are looking to build out the middle and outer layers of your network hierarchy, cities are a great place to do it.</li> <li><strong>Are the core parts of your network topology filled in?</strong> Do you have close relationships that you’re happy with and can rely on? If not, a smaller city may be a better place for you than a big one.</li> </ol> <h2 id="Crossroad-#7-–-Reassessments">Crossroad #7 – Reassessments</h2> <p>At any point, you can choose to reassess the course you’re on.</p> <p>The network gravity has been building up since your birth and gets stronger over time. Each network adding and integrating with the others, changing the math on your dashboard until it’s near destiny. But you can decide to ignore that network math and forcibly make a change. This actually gets easier for older people who are done with their “shoulds.” When they’ve raised their kids, built their careers, earned some money. That’s why you see mid-life crises. The network force has been guiding someone for their whole lives, and then it stops exerting so much pressure and the person can consider their own innate interests and agency.</p> <p>The most lasting and effective way to change your life is to change who you’re surrounded by. Since networks so powerfully shape who we are and what we do, the best way to change ourselves is to change our networks.</p> <p>This is a big limitation at the way we look at self-development and self-transformation. We think we can just roll out of bed one day, make a few new year’s resolutions, and become a new person. But this approach ignores the biggest part in the equation of who you are and what defines your life — the network force.</p> <p>This isn’t to absolve us of responsibility for our actions and to shift the blame to others. Rather, it’s to underline the fact that we are powerfully constrained by our network contexts. So the smartest use of energy for those of us looking to make a change can often be to carefully reassess the networks we’re a part of, and find ways to join new ones that are better suited to the life path we want to be on.</p> <p>On the flip side, if life is going well and you’re happy, understand how important networks are. Double down on your relationships. Cherish the people in your life and be aware of the value of their relationships and the networks you’re a part of.</p> <p>Our networks are our most valuable resource. They are the way our lives express themselves. Those networks are made up of all the people you care about, the people you, inspire, move, and help to live their best lives.</p> <figure id="w-node-0dc7d6d2c3bb-d3a748fc" class="w-richtext-align-fullwidth w-richtext-figure-type-image" style="max-width:1200pxpx"></figure> </div><div class="grid grid-flow-row px-0 pt-8"><div class="flex flex-col min-w-full pt-6 md:pt-0 border-[1px] border-nfxGreen px-6 pb-6"><div class="font-gtAlpinaCondenseLight text-nfxBlue/75 dark:text-offBlue text-3xl pb-6 pt-0 md:pt-6">Subscribe for more Network Effects insights</div><div class="font-gtAmericaMonoLight text-nfxBlue/75 dark:text-offBlue/75 text-xs font-light text-base text-left mb-2">Get our weekly newsletter that 289K+ startup teams read</div><div class="w-full grid"><form><div class="lg:flex block lg:flex"><input type="text" class="h-12 focus:outline-none rounded-none font-gtAlpinaLight font-light text-base px-6 py-3 text-nfxBlue bg-white placeholder-nfxBlue placeholder:text-nfxBlue 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src=\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg\" alt=\"\" width=\"1200\" height=\"628\" srcset=\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg 1200w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-300x157.jpg 300w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-1024x536.jpg 1024w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-768x402.jpg 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" /\u003e\u003c/h3\u003e\n\u003cfigure id=\"w-node-e1d39b22aa1d-d3a748fc\" class=\"w-richtext-align-center w-richtext-figure-type-video center-video new-video-style has-simplecast\" style=\"padding-bottom: 60%;\"\u003e\u003ciframe loading=\"lazy\" src=\"https://player.simplecast.com/befbe017-e48f-48eb-bbc0-9b17f81132ca?dark=true\u0026amp;color=242547\" width=\"100%\" height=\"200px\" frameborder=\"no\" scrolling=\"no\" seamless=\"\"\u003e\u003c/iframe\u003e\u003c/figure\u003e\n\u003cp\u003eWhat city you live in. Who you date or marry. Which job you choose. What clothes you wear.\u003c/p\u003e\n\u003cp\u003eWe all think we make these choices ourselves. It certainly \u003cem\u003efeels\u003c/em\u003e like we’re in full control. But it turns out that our choices — both in our startups and in our lives — are more constrained than we think.\u003c/p\u003e\n\u003cp\u003eThe unseen hand in them all is the networks that surround us and the powerful math they exert on us.\u003c/p\u003e\n\u003cp\u003eWorking with network effects in our 100+ companies makes it impossible not to notice how the same mechanisms and math that create near-destiny for companies also create near-destiny for us as individuals. It’s mind-blowing once you see it.\u003c/p\u003e\n\u003cp\u003eThese constraints are highly determinative of how your life will turn out, guiding us inexorably down one path or another in ways that are both quite predictable. Yet these forces are typically unnoticed.\u003c/p\u003e\n\u003cp\u003eThis article outlines how we see network effects impacting nearly every aspect of your life. With that lens, it lays out a perspective on how to make the 7 most important decisions of your life. It will hopefully help you make decisions that are more true to the kind of life you want to lead.\u003c/p\u003e\n\u003cfigure id=\"w-node-2aa26007f622-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-video\" style=\"padding-bottom: 56.206088992974244%;\"\u003e\n\u003cdiv\u003e\u003ciframe src=\"https://www.youtube.com/embed/HdnXuKi_2Zw\" frameborder=\"0\" scrolling=\"no\" allowfullscreen=\"allowfullscreen\"\u003e\u003c/iframe\u003e\u003c/div\u003e\n\u003cdiv\u003e\u003c/div\u003e\n\u003cdiv\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003ch2\u003e\u003cem\u003eNetwork Force: The Unseen Hand \u003c/em\u003e\u003c/h2\u003e\n\u003cp\u003eAdam Smith published The Wealth of Nations in 1776. In it, he envisioned markets with thousands of individuals pursuing their own independent self-interest as creating an “invisible hand” that unintentionally promoted the good of society. This “free-market model” allowed him to point out the math and mechanisms behind the emergence of large-scale social order.\u003c/p\u003e\n\u003cp\u003eHere we want to do the reverse — to use a “network model” to characterize the large scale human social orders and explain how they impact each of us with an often unseen hand.\u003c/p\u003e\n\u003cp\u003eIn short, the networks of human connections in your life create a force that guides you down a path not always fully of your intention, through the mechanism of 100s of small interactions.\u003c/p\u003e\n\u003cp\u003eFurther, this “network force” compounds over time. The longer your relationships, cliques, and communities persist, the more they shape your destiny.\u003c/p\u003e\n\u003cp\u003eSociologists regard the evolution of our lives as resulting from a combination of our own choices and preference and the force of our surrounding social network structure.\u003c/p\u003e\n\u003cp\u003eObserving our own lives, and watching as 100s of founders move through their own journeys, we would go even further in the belief that it’s network forces that influence the majority of how our lives turn out. And 90% of those network forces are established in just 7 crossroads or pivotal life events.\u003c/p\u003e\n\u003cp\u003eGiven the power of network forces on your life, they should be the primary consideration when making decisions at these crossroads. Although it may feel like a complex decision in the moment, they become simplified when seen primarily through the lens of joining and forming new networks and changing the network topology of your life.\u003c/p\u003e\n\u003cp\u003eThe world seems chaotic. But it’s not. Underlying all this apparent complexity is some wonderfully simple math. Follow the math to your destination.\u003c/p\u003e\n\u003cp\u003eUnderstanding the primacy of networks will give you a superpower to see what others do not and navigate life’s big decisions more effectively.\u003c/p\u003e\n\u003ch2\u003eSeeing the Math at Work in Your Life\u003c/h2\u003e\n\u003cp\u003eMath underlies elements of the social sphere in ways we don’t always see. In spooky ways.\u003c/p\u003e\n\u003cfigure id=\"w-node-00ddd007705e-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\"\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Underlying-it-all-is-math.-Always-back-to-the-math..jpg\" alt=\"Underlying it all is math. Always back to the math.\" /\u003e\u003c/figure\u003e\n\u003cp\u003eHere are a few examples of how math drives the large and small scale social orders we experience every day. After that, we’ll get to how the network force should guide your decision making in the 7 crossroads of your life.\u003c/p\u003e\n\u003ch2\u003eZipf’s Law and You\u003c/h2\u003e\n\u003cp\u003eDid you know the frequency of the words you use are determined by an underlying mathematical pattern?\u003c/p\u003e\n\u003cp\u003eWhat’s stranger is that same mathematical pattern seems to determine \u003ca href=\"https://www.nature.com/articles/srep00812\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ethe sizes of cities within a country\u003c/a\u003e, \u003ca href=\"https://www.theguardian.com/commentisfree/2011/nov/11/occupy-movement-wealth-power-law-distribution\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eincome distributions of people within an economy\u003c/a\u003e, income distribution among \u003ca href=\"https://www.sciencedirect.com/science/article/pii/S0378437199000862\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ecompanies\u003c/a\u003e, \u003ca href=\"https://www.nngroup.com/articles/zipf-curves-and-website-popularity/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ehow much traffic goes to different websites on the Internet\u003c/a\u003e, \u003ca href=\"https://www.jstor.org/stable/1402733?seq=1\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ehow often last names are used in a society\u003c/a\u003e, the \u003ca href=\"http://www-personal.umich.edu/~mejn/courses/2006/cmplxsys899/powerlaws.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enumber of phone calls people receive\u003c/a\u003e, \u003ca href=\"https://pdfs.semanticscholar.org/f2d7/5bb066e2cf25391a428b050e3e75d5440a61.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ethe number of people who die in wars\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eThis mathematical pattern is a power law known as \u003ca href=\"https://en.wikipedia.org/wiki/Zipf%27s_law\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eZipf’s Law\u003c/a\u003e. It was first noticed as a principle of language. About 100 years ago, physicists and linguists discovered that the second most commonly used word in English is used one half as much as the most used word. The third most used word is used one third as much as the most used word, so forth down through \u003cem\u003eall \u003c/em\u003ethe words in a given language.\u003c/p\u003e\n\u003cp\u003eThis law turns out to hold not just in languages, but in many other cases. The world looks complex or chaotic on the surface, particularly in social matters and perhaps your own life, but underlying what we see are simple rules of math.\u003c/p\u003e\n\u003cp\u003eThe underlying mechanism for Zipf’s law is not yet agreed on but the main hypothesis is that it’s an outgrowth of the \u003ca href=\"https://en.wikipedia.org/wiki/Principle_of_least_effort\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ePrinciple of Least Effort\u003c/a\u003e. In short, systems that survive and operate at steady state optimize for efficiency. When they do, things tend to look like Zipf distributions.\u003c/p\u003e\n\u003cp\u003eRelated to your life, an even stranger implication of Zipf’s Law is that unconscious network forces will act on anyone or any company that gets to be an outlier in one or more of these distributions. Bringing you back in line — or bringing another person or company back in line to make room for your new numbers — will happen without any conscious or intentional force at play.\u003c/p\u003e\n\u003cp\u003eThis is a bit spooky. It means that the number of inhabitants of NYC constrains and influences the number of inhabitants of LA, Seattle, Chatanooga and all American cities in some unseen way because they are all part of the network of US cities. Even though we are each making what feel like independent decisions about where to live, it seems that we are part of this network unconsciously influencing people to keep American cities on the Zipf distribution line. I am one of those people being pushed around. And so are you.\u003c/p\u003e\n\u003cp\u003eThat also implies that my income is somehow influenced by other incomes that surround me as my income fits into the Zipf Law curve. And my country’s GDP is influenced by other countries’ GDPs.\u003c/p\u003e\n\u003cp\u003eIf math is underlying all this, what else in my life is being affected by the larger social order?\u003c/p\u003e\n\u003ch2\u003eYour Body and Cities Have Predictable Mathematical Patterns\u003c/h2\u003e\n\u003cp\u003eSystemic efficiency also drives other mathematical laws that govern how our lives look. Another example is the ¾ scaling law that shows up everywhere in the world as pointed out by Geoffrey West in his 2017 book \u003ca href=\"https://www.amazon.com/Scale-Universal-Growth-Organisms-Companies/dp/014311090X/ref=sr_1_1?crid=1O9SNL42UCCKF\u0026amp;keywords=scale+geoffrey+west\u0026amp;qid=1578947224\u0026amp;sprefix=scale+geoffre%2Caps%2C202\u0026amp;sr=8-1\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e\u003cem\u003eScale\u003c/em\u003e\u003c/a\u003e. The cells and energy systems of living things scale up in predictable patterns. A mammal that is 200% the size of another will only consume 150% of the energy. That’s because our cells and capillaries have evolved to be the most efficient fractal network transport system for conveying energy and nutrients to a 3D body. Those same underlying mechanisms drive the math of when you’ll die and why you stop growing taller.\u003c/p\u003e\n\u003cp\u003eThis biological fractal network is very similar to the fractal network of a city that has evolved to provide energy and transportation to keep the city alive. The empirically measured numbers for cities are 17/20 scaling, still pretty remarkable energy gains for the city based on its network effect, and still consistent across nearly all cities.\u003c/p\u003e\n\u003cp\u003eIt’s remarkable to think that city planners could actively try to violate the 17/20 scaling rule for cities, and the network would actively work against them in unseen ways to pull the city back to 17/20.\u003c/p\u003e\n\u003ch2\u003eHow do nodes on a human network work?\u003c/h2\u003e\n\u003cp\u003eNodes, which in this case are people, exchange a host of things. Sometimes consciously if I pay you from my bank account, sometimes unconsciously like when you overhear me at dinner telling someone about how I coach founders during walks and you decide to try it with your employees.\u003c/p\u003e\n\u003cdiv class=\"content-upgrade\" data-content=\"PHA+UGFydCAxIC0gV2h5IE5ldHdvcmsgRWZmZWN0cyBBcmUgSW1wb3J0YW50PGJyPgpQYXJ0IDIgLSBIb3cgTmV0d29ya3MgV29yazxicj4KUGFydCAzIC0gUHJvcGVydGllcyBvZiBOZXR3b3Jrczxicj4KUGFydCA0IC0gQnVpbGRpbmcgYW5kIE1haW50YWluaW5nIE5ldHdvcmsgRWZmZWN0czxicj4KUGFydCA1IC0gUmVsYXRlZCBDb25jZXB0czwvcD4=\" data-title=\"The Network Effects Bible\" data-form-title=\"Download the Network Effects Bible\" data-button-text=\"Get the E-Book\" data-hubspot-form-id=\"f94a6b4c-3e9d-4c3b-94c4-aaf03e34ad98\"\u003e\u003c/div\u003e\n\u003cp\u003eThe things they exchange are… well… nearly everything. The most important ones for our discussions here are ideas, capital, connections, jobs, status, aspirations, language, requests, standards, expectations, affirmation, criticism, belonging, and physical space.\u003c/p\u003e\n\u003cp\u003eThe nodes exchange more of these things when the friction is low due to physical proximity, interaction frequency, tribal trust, similarity, etc. The nodes also exchange more when the benefit is high due to resources gain, status gain, tribal trust gain, etc.\u003c/p\u003e\n\u003cfigure id=\"w-node-00ddd007705e-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\"\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Unconscious-and-Conscious-Network-Exchange-Image.jpg\" alt=\"Unconscious and Conscious Network Exchange Image\" /\u003e\u003c/figure\u003e\n\u003ch2\u003eIn Networks, The Rich Nodes Get Richer\u003c/h2\u003e\n\u003cp\u003eMost things that happen in society are multi-turn and repetitive. These are called \u003ca href=\"https://en.wikipedia.org/wiki/Preferential_attachment\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e\u003cstrong\u003epreferential attachment processes\u003c/strong\u003e\u003c/a\u003e which happen when something (such as money, status, fame, punishment) is distributed based on how much is already possessed. Most social processes are preferential attachment. For example, if two Founders each tweet out the same great idea at the same time, the one with more status will be given credit for the idea.\u003c/p\u003e\n\u003cp\u003eWhat’s fascinating is that this is because of math. Nodes that are “ahead” get picked more often by the other nodes because they are ahead and thus offer the nodes choosing them less friction and more benefit. When this gets repeated many times, it systematically directs more resources to the nodes that already have relatively more.\u003c/p\u003e\n\u003cp\u003eThis pattern has been so prevalent for so long, and has been so annoying to the majority of people, who, by definition are not in the lead, that it’s mentioned in one form or another at least five times in the Bible, most famously in Matthew: “For to everyone who has will more be given…” Now called \u003ca href=\"https://en.wikipedia.org/wiki/Matthew_effect\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eMatthew Effect\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003eThe math behind why dinner parties behave the way they do\u003c/h2\u003e\n\u003cp\u003eIf you want to have one conversation at a dinner table, 6 people is about the right number. Maybe 8, max. While that seems like a social decision you made yourself, the reasons behind it are mathematical. That number is similar for all of us because it’s based on how many possible two-way conversations (links) can exist between people (nodes) in a group. The formula (derived from \u003ca href=\"https://www.amazon.com/Scale-Universal-Growth-Organisms-Companies/dp/014311090X/ref=sr_1_1?crid=1O9SNL42UCCKF\u0026amp;keywords=scale+geoffrey+west\u0026amp;qid=1578947224\u0026amp;sprefix=scale+geoffre%2Caps%2C202\u0026amp;sr=8-1\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eScale\u003c/a\u003e, pg. 317), it turns out, is:\u003c/p\u003e\n\u003cp\u003eN * (N-1) / 2\u003c/p\u003e\n\u003cp\u003eWhere N is the number of people. If you have a group of six people, that’s 6 * 5 / 2 = 15 potential two-way conversations, which means that to focus on one conversation, you have to suppress 14 others. That’s possible without being too rude, but if you add just one more person to the group, the formula becomes 7 * 6 / 2 = 21. That’s an additional 6 conversations to suppress. That stretches our social skills to control.\u003c/p\u003e\n\u003cp\u003eThe larger point here is that when groups get larger, it’s an exponential change, not a linear one, and that affects social experience you have, how you interact, and ultimately how you feel. Whether it’s a dinner party, the size of your extended family, school, college, workplace, or a city, with \u003ca href=\"https://www.nfx.com/post/network-effects-bible#the-network-laws\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enetworks, the math behind\u003c/a\u003e them puts impactful forces on how we all behave.\u003c/p\u003e\n\u003ch2\u003eHow Networks Form\u003c/h2\u003e\n\u003cp\u003eIn theory, the people who inhabit each “layer” of your life’s network map could be anyone. All humanity is, after all, connected. As \u003ca href=\"https://www.nfx.com/post/network-effects-archives#1-the-small-world-problem\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eStanley Milgram famously showed\u003c/a\u003e as far back as 1967, there are a maximum of 6 degrees of separation between you and any other person in the US. With the advent of the internet and global social networks like Facebook, that number may be even lower — as low as \u003ca href=\"https://www.nfx.com/post/network-effects-archives#8-three-and-a-half-degrees-of-separation\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ethree and a half degrees\u003c/a\u003e according to a study conducted by Facebook in 2016.\u003c/p\u003e\n\u003cp\u003eBut in practice, relationships don’t form at random. 5 conditions contribute to the depth and speed at which they form:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eA context for frequent, repeated interaction with a new group of people (\u003c/strong\u003ee.g. a new school, job, church, club, dorm, living situation, etc.).\u003c/li\u003e\n\u003cli\u003eA \u003cstrong\u003ehigh degree of overlap\u003c/strong\u003e between relationships in the new group.\u003c/li\u003e\n\u003cli\u003eA transition period where people are open to\u003cstrong\u003e changing or evolving their identity. \u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003eA high \u003ca href=\"https://www.nfx.com/post/network-effects-bible#network-density\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e\u003cstrong\u003edensity\u003c/strong\u003e\u003c/a\u003e of people in \u003cstrong\u003egeographic and network proximity.\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003eGo through \u003cstrong\u003esomething hard\u003c/strong\u003e and perhaps fear-inducing together.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eSo you can see why high school, college and your first job are such important life stages. All 5 of these conditions are present.\u003c/p\u003e\n\u003ch3\u003eWhat Does Your Network Want from You?\u003c/h3\u003e\n\u003cp\u003eYou are not just the recipient of value from your network. The people and nodes in your network want and expect an exchange from you, too. They want you to validate them and support them. You are in a dialogue with the network force. As Obi-Wan says about The Force in the original Star Wars movie:\u003c/p\u003e\n\u003cblockquote\u003e\u003cp\u003e‍Kenobi: A Jedi can feel the Force flowing through him.\u003c/p\u003e\u003c/blockquote\u003e\n\u003cblockquote\u003e\u003cp\u003eLuke Skywalker: You mean it controls your actions?\u003c/p\u003e\u003c/blockquote\u003e\n\u003cblockquote\u003e\u003cp\u003eKenobi: Partially, but it also obeys your commands.\u003c/p\u003e\u003c/blockquote\u003e\n\u003cp\u003eThe network force is similar. You don’t always see it, but it is exerting itself on you.\u003c/p\u003e\n\u003cp\u003eIt wants something from you. Your network force proactively guides you down a path. So be careful which sub-networks and people you add into your network.\u003c/p\u003e\n\u003cp\u003eWhen you start to see that dialogue between you and your network, the push-pull, you see it everywhere. The chaos of the world diminishes a bit and becomes more understandable and predictable. And you understand more why things are the way they are and why they stay that way. Hopefully, it will also give you insights as to where you can push to change things that should be changed, not just about you, but about your company, your city, and your world.\u003c/p\u003e\n\u003ch2\u003eYour Life’s Crossroads\u003c/h2\u003e\n\u003cp\u003eLet’s look with new “network force” eyes at the crossroads each of us face. This list of crossroads is intuitive, but few of us explicitly understand the math that guides our choices and the gravitational force our networks exert on our lives.\u003c/p\u003e\n\u003cp\u003eAnd further, like asteroids colliding in space to form larger asteroids, at each crossroads we pick up greater “network mass”, increasing our network gravity and exponentially heightening the energy costs of changing course.\u003c/p\u003e\n\u003cfigure id=\"w-node-00ddd007705e-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\"\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Life-asteroids-colliding.jpg\" alt=\"Life asteroids colliding in space to form larger asteroids, at each crossroads we pick up greater \" /\u003e\u003c/figure\u003e\n\u003cp\u003eThe conclusion is that the compounding, nonlinear math of networks means that they should be the primary consideration in our big life decisions.\u003c/p\u003e\n\u003ch2\u003eThe Network Topology of Your Life\u003c/h2\u003e\n\u003cp\u003eThere are three levels of networks you’re a part of.\u003c/p\u003e\n\u003cfigure id=\"w-node-01a06d004a30-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\" style=\"max-width: 2500pxpx;\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/People-Digital-Network.jpg\" alt=\"\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003eWithin the “People Network”, you are a member of many networks. Your family, your high school classmates, college alumni, company alumni, the people from an activity you do like a soccer team or volunteering, the people who work in your building, the people who live on your street, the people at the gym you go to.\u003c/p\u003e\n\u003cp\u003eThe intensity of each of the links between you and the other nodes in your networks, it turns out, will follow Dunbar’s law, which appears to be based on the fundamental structure of your brain. We each tend to have 5 people who are like family, 15 intimates, 50 acquaintances, and 150 total familiars that we can interact with on a regular basis. Beyond these approximate limits, humans don’t do so well.\u003c/p\u003e\n\u003cfigure id=\"w-node-01a06d004a30-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\" style=\"max-width: 2500pxpx;\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Motivation-Social-Brain-Theory.jpg\" alt=\"Motivation: Social Brain Theory\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003eYou are a node in each of the networks to which you belong. The other nodes \u0026#8211; people \u0026#8211; give you your ideas, your words and phrases, your assumptions, your desires, your fears and your beliefs. They give you your belonging, your affection, your shame, your fear, and your hopes.\u003c/p\u003e\n\u003cp\u003eTo make an analogy, imagine that the things that these nodes all give you show up on your life dashboard as you navigate life. They appear with a lot of numbers. Probabilities, rewards, costs, frictions. You make your decisions reading this dashboard and what the network presents to you there. You have agency and free will in making your decisions. You look at the math of each decision and make the best decision you can at every point.\u003c/p\u003e\n\u003cp\u003eThe mathematically obvious path will feel like “the right decision.” But note that what even shows up on your life dashboard is put there by your network. And the math associated with each option — the rewards and frictions and probabilities — are determined by your unique network. And your network is the result of the network decisions you made during the few crossroads moments in your life.\u003c/p\u003e\n\u003cfigure id=\"w-node-01a06d004a30-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/What-shows-up.jpg\" alt=\"What shows up on your life dashboard is put there by your network. And your network is the result of just a few crossroads moment decisions in your life.\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003eWhat that means is that the little decisions you make daily, the ones you fret over, are orders of magnitude less important than the crossroads decisions you make. This is true because those decisions have been placed in front of you by your network and are mostly a function of your network, and they don’t typically bridge you into whole new networks and new ideas and options.\u003c/p\u003e\n\u003ch2\u003eCrossroad #1 \u0026#8211; What Family You’re Born Into\u003c/h2\u003e\n\u003cp\u003e\u003cem\u003eYou don’t get to choose this one. For better or worse, your family is the fundamental layer of your network topology. Seeing your family through the lens of the network forces model can reveal the hidden depth of that influence. \u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eNetwork clusters influence us in proportion to how frequently we interact with them, how early we adopt them, how strong and reciprocal our ties are with the other members, how much they are reinforced by overlapping shared connections, and how long we expect them to last.\u003c/p\u003e\n\u003cp\u003eIn all of these measures, few of our other networks in life can rival family:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eSince you usually live in the same house with your family for a large part of your life, geographical proximity makes frequency of interaction extremely high and friction to interact low.\u003c/li\u003e\n\u003cli\u003eYour individual relationship with one family member — usually a strong tie — is reinforced by all the other family members you share in common.\u003c/li\u003e\n\u003cli\u003eWe expect family relationships to persist throughout our entire lives, an expectation formalized in most human cultures as a deeply-embedded social norm. There’s a long “shadow of the future” with our family members. We know they’ll always be there, so we’re willing to invest and sacrifice for our family relationships more than for non-family.\u003c/li\u003e\n\u003cli\u003eFamily ties have higher bandwidth than others because we see labels like “mother” or “son” as identity-defining. Family relationships straddle the line between who you know and \u003cem\u003ewho you are\u003c/em\u003e.\u003c/li\u003e\n\u003cli\u003eFuture relationships outside the family network, e.g. friends, dates, etc., will be impacted and reinforced by your family. The closer you get to someone, the more they interact with your family, and the more likely it becomes that they develop their own ties with your family members.\u003c/li\u003e\n\u003cli\u003eAll of the powerful factors above are superimposed by, and reinforced with, our biological drive to connect with others who share our genes.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eNow that we can see how families are uniquely influential relative to other networks, it’s clearer why we so often adopt our cosmological, religious views, linguistic dialect, political leanings, dietary preferences, and worldviews from them — despite such things not being genetically heritable.\u003c/p\u003e\n\u003cp\u003eYou go through life thinking such things are innately “you”. But you didn’t adopt your identity in a vacuum. Had you been raised by a different family, you would likely be a very different “you” — Your religion, linguistics, political orientation, favorite foods, worldview would probably be very different despite such things not being genetically heritable.\u003c/p\u003e\n\u003cp\u003eOur family network impacts what networks we are exposed to and which ones we are constrained from. Family nodes have preferences, and push links to other networks on us in the form of introductions to schools, places to live, jobs, and spouses. There are also prohibitions on fraternizing with the “wrong” nodes in certain networks.\u003c/p\u003e\n\u003cp\u003eYour family is a low-friction, high-impact network. Because of that underlying math, when making life decisions most people will choose the options that most align with their core family network.\u003cstrong\u003e \u003c/strong\u003eBe aware of this if you want to be more conscious in directing where your life path will lead.\u003c/p\u003e\n\u003cp\u003eYour family network is the one you don’t get to choose, and in that sense, it’s not fair. But it’s not destiny. Think of it as another network force — albeit a very powerful one — that puts data on your dashboard.\u003c/p\u003e\n\u003ch2\u003eCrossroad #2 \u0026#8211; High School Network\u003c/h2\u003e\n\u003cp\u003e\u003cem\u003eHigh school networks are especially important because they are influential when we are forming our identities and worldviews as young adults. High school networks are also correlated with academic achievement, work habits, and even college admission — defining access to future networks and building a vibrant life of your choosing. \u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eLike family, where you go to high school isn’t usually a choice. But if you do have this option still ahead of you, or if you have children and can choose for them, don’t underestimate its importance.\u003c/p\u003e\n\u003cp\u003eHigh schools are typically the first peer networks we join that are large enough to have a diverse array of subgroups — better known as high school cliques. As such, they present us with our first significant network-based decision: who to associate with in high school.\u003c/p\u003e\n\u003cp\u003eThe importance high-schoolers place on “popularity” — their status in the social hierarchy of their peers — shows that we intuitively understand the importance of networks even at an early age. In seeking status or popularity, we are, in part, looking to maximize our options in terms of which cliques we can elect to join or form. For most teenagers, that optionality matters deeply.\u003c/p\u003e\n\u003cp\u003eHow does status work? Why does status give you options? Because status lights up the network. It’s a pure shot of preferential attachment we mentioned earlier. Sure, nodes on the network with money attract more money. Nodes with more access attract more access. Nodes with more attention attract more attention. But nodes with status attract all of the above. Nodes of all types want to associate with high-status nodes because it will improve their own status.\u003c/p\u003e\n\u003cp\u003eWinning status becomes the singular focus of life for many teens, and not a few adults persist in that goal. Adult parents of a high school teen may see it as melodramatic or irrational how much their kids care about their status, reputation, and friends at that stage in life — especially compared with more “important” things like academic accomplishment.\u003c/p\u003e\n\u003cp\u003eBut from the vantage point of a teenager, social obsession is quite rational. Teens intuitively understand that their high school destiny depends on their network of friends. And though it’s easy to dismiss teenage behavior as irrational and hormonally driven, there are serious consequences to the networks we join early in life.\u003c/p\u003e\n\u003cp\u003eFor example, \u003ca href=\"https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4335644/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eacademic achievement in high school has been shown to be directly influenced by friends\u003c/a\u003e. “High-achieving students strive for high-achieving friends, low-achievers strive for low-achieving friends … [and] the differences in achievement between the high and low achievers will be exacerbated by the friends they make.\u003c/p\u003e\n\u003cp\u003eAccording to one 2011 Harvard study, all kinds of traits, \u003ca href=\"https://blogs.cornell.edu/info2040/2011/10/03/social-networks-and-public-health-the-hidden-influence-of-social-networks/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003efrom body weight to happiness\u003c/a\u003e, are heavily influenced by network clusters. Throughout your life, your “clique” helps define you. The same study also found that the presence of friends in class has a positive and significant effect on test scores.\u003c/p\u003e\n\u003cp\u003eMoreover, as your first peer-based network you form after you’ve come of age, your high school friends have a particular influence on your lifelong identity — from your tastes in music, to your work ethic, your fashion sense, and your life aspirations — which is only rivaled by family, and in some cases even surpasses it.\u003c/p\u003e\n\u003cp\u003eIt’s not just during high school that high school networks matter. Those who go to college and build a career in the same cosmopolitan area as their high school are likely to retain some parts of their teenage cliques throughout their lifetime, usually forming a core part of their network.\u003c/p\u003e\n\u003cp\u003eAll this network force taken into account, which high school you go to matters a lot. Imagine the impact of moving a kid from, for instance, Taiwan or Spain to the US, or vice versa, for high school. How much of a difference would that make to the trajectory of a person? The networks presented to them? The ideas, the sports, the foods, the language, the friends, etc. Imagine moving from Arkansas to, for instance, Phillips Exeter Academy in New Hampshire for high school. Intuitively, we know this will make a difference. But we see the mechanics of that difference more clearly when we see it through the lens of network forces.\u003c/p\u003e\n\u003cp\u003eWhen navigating the question of which high school to attend or — if you don’t have a choice — who to make friends with as a high school student (or which kinds of people to encourage your kids to befriend if you’re a parent, although good luck with getting them to listen), ask yourself the following questions:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eHow big is the high school? \u003c/strong\u003eThe bigger the high school, the bigger the alumni network, which may influence your ability to choose future networks like college, spouse, and jobs.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow diverse is the school so you can find nodes and sub-networks that fit you best? \u003c/strong\u003eWith more options, there is a higher probability you can find a high achieving sub-network in an area you can be ambitious and high achieving.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow strong is the affinity of school graduates? \u003c/strong\u003eHigher affinity indicates stronger network links between nodes in the network, that the network is more valuable to the graduates. How much do they brag that they went to that high school? How often do they come back for reunions? How passionate are they about the brand of the school? Do they use it as a strong identity peg or are they indifferent? Those would indicate stronger network links between nodes in the network.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow important is academic success to \u003cem\u003ehigh-status students \u003c/em\u003ein this high school? \u003c/strong\u003eThe more that popularity / status positively correlates with academic success, the more that short-term social incentives will be aligned with achievements that will serve you or your kids in the long term.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eParents and ambitious teens often mistake high school for a competition to get into a good college, either through academic achievement or sports. By focusing on the sound and fury of competing for grades and spots on the varsity team, they miss the higher importance of the network dynamics at stake. In high school, putting yourself in a position to form a large number of strong relationships with the right network nodes can make all the difference, not to “get ahead” but to create a vibrant, amazing life of your choosing.\u003c/p\u003e\n\u003ch2\u003eCrossroad #3 \u0026#8211; College Network\u003c/h2\u003e\n\u003cp\u003e\u003cem\u003eYou should choose your college based on its network of students and the geographic network they inhabit more than course of study or sports teams. If you choose the right people to be around in college, they will open up ideas, relationships, jobs, aspirations, attitudes and resources that fit with you and a virtuous cycle will be set in motion. Your network will ask you to be your best self and live your best life, like a trainer at the gym. In this way, your college network will have an exponential impact on your life.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eCollege networks have many characteristics that make them powerful\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eGeographic density creates frequent interactions between the nodes, giving network bonds a chance to form and strengthen.\u003c/li\u003e\n\u003cli\u003eThere’s a long duration of network formation. 4 years is a long time. A lot happens in 4 years.\u003c/li\u003e\n\u003cli\u003eA closed, selective network. This is powerful for three reasons. A) Your reputation matters. People are more likely to have heard about you via a third party, and treat you differently according to your reputation. B) If you meet another student, the chances of them knowing someone you know is much higher than someone you meet outside of the closed network. There is a high degree of \u003cstrong\u003enetwork overlap \u003c/strong\u003ebetween you and other students, and as network theory predicts, shared connections between two people vastly heighten the chances of them forming a strong bond. C) The likelihood of repeat interaction between students is very high.\u003c/li\u003e\n\u003cli\u003e Like with family, these networks cross from who you know to who you are. Identity formation takes place at this age and are thus likely to last longer.\u003c/li\u003e\n\u003cli\u003eWhen you choose a college, you are also choosing a geography. People tend to end up working and living in the same geographical proximity as their college, keeping them close to their college friends.\u003c/li\u003e\n\u003cli\u003ePeople tend to end up working in the same industries as the people in their college network.\u003c/li\u003e\n\u003cli\u003eIt’s considered a social norm that you should build and value your network in college, so others are more receptive to building new and strong bonds.\u003c/li\u003e\n\u003cli\u003eGiven your biological age, it’s a good time to look for a partner. The network upshot of this is that many people will find their spouse at college, or at least find someone who they think likely to be their spouse in the future, which impacts big life decisions such as where to live after college. As we’ll see, this is actually a huge decision — and letting your dating life dictate where you live isn’t usually a wise choice.\u003c/li\u003e\n\u003cli\u003eCollege teaches you the idea that you will know these people the rest of your life, so like family, there is a powerful shadow of the future that makes the bonds stronger and more numerous.\u003c/li\u003e\n\u003cli\u003eAll of the above elements reinforce each other.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eTo see what this means in practice, consider the following scenario:\u003c/p\u003e\n\u003cp\u003eAs a freshman, you meet someone in class. Let’s call that person Sally. You and Sally have some things in common, and you get along fine. If you were asked to rate your affinity for Sally, it would be a 6 out of 10. Since you share a class together, you’ll see each other maybe twice a week for at least six months.\u003c/p\u003e\n\u003cp\u003eYou’ll interact regularly and frequently — and even after this semester, there’s a high likelihood that you’ll see Sally around campus, share friends with her who might invite you both to the same parties or get-togethers, or participate in the same extracurricular activities. All of this is the result of you being members of the same closed network and sharing the same geographical and institutional circumstances.\u003c/p\u003e\n\u003cp\u003eNow suppose that, the same day when you first meet Sally, after class you go to a party off campus where you meet Bob. Bob doesn’t go to your school, doesn’t have any shared connections with you, and doesn’t live near you. But he does have a lot in common with you, and you spend all night at the party hanging out because you share so many interests and have so much chemistry. If you were asked to rate your affinity with Bob, it would be a 10 out of 10.\u003c/p\u003e\n\u003cp\u003e4 years later when you graduate, which friendship is most likely to have survived? How much does the math of network formation matter compared to your own preferences and agency?\u003c/p\u003e\n\u003cp\u003eMutual affinity isn’t the only thing that matters in choosing friends. It’s not even the biggest factor. Network force swamps other factors. Taking it into account, the model for relationship development doesn’t just include mutual affinity. Instead, it looks more like this:\u003c/p\u003e\n\u003cp\u003eLikelihood of forming a relationship = Mutual affinity * frequency of interaction * duration of interaction * geographical proximity * network proximity * number of shared connections * etc\u0026#8230;\u003c/p\u003e\n\u003cp\u003eBob might be a 10 in that first factor of mutual affinity, but in all the others he’s a 1.\u003c/p\u003e\n\u003cp\u003eSally, on the other hand, may be a 6/10 in terms of personal affinity, but she’s a 10/10 in all the other ways, each of which serves as a multiplier on the likelihood of you interacting and developing a lasting relationship with her.\u003c/p\u003e\n\u003cp\u003eAnother way of looking at it is that the friction of hanging out with Sally is much lower than hanging out with Bob — it takes 10X less effort to hang out with Sally. So over time, the math of inhabiting a shared network — the network gravity — makes it hundreds of times more likely to become lasting friends with her than with Bob.\u003c/p\u003e\n\u003cp\u003eThis is a rough illustration of the mathematical power of networks in shaping behavior. As we see, networks impose real constraints on how you make decisions, not only in who you are likely to end up befriending, but the career opportunities, dating choices, beliefs, and information that you’ll end up sticking with.\u003c/p\u003e\n\u003cp\u003eNetwork proximity makes some options more appealing than they would be in a vacuum, while network distance can impose a high friction on other options — like being friends with Bob, or choosing to adopt a belief system, a fashion sense, or industry job too different from those of the other people in your proximal network.\u003c/p\u003e\n\u003cp\u003eSo if you are choosing between colleges, or know someone who is, consider the following questions:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eWhere do most of the alumni of this college end up living?\u003c/strong\u003e When you choose a college you are also choosing a regional network. If you go to school in California, for example, your friends and job offers will end up being mostly in that region. I don’t recruit at my alma mater Princeton anymore because it’s so low probability to pull a Princeton grad out of the NYC-DC-Boston orbit. I tried for four years, and each of the people I was recruiting did the math on their own life dashboards, saw the numbers put there by their networks, felt the network gravity, and each made the rational decision to stay on the East Coast. One candidate stayed in NYC to move into an apartment with their college friends and work at Goldman Sachs who recruited heavily on campus, one hour from their office in Manhattan (low friction due to geographic network). Another moved back to Boston to be near to their girlfriend who was finishing up at Brown, and their parents in the suburbs. They each “really wanted” to join a startup, but network gravity and network math were too much.\u003c/li\u003e\n\u003cli\u003eNow think about how the math continues to cascade through the network. Princeton hopes that I continue to be an active recruiting node on the network, providing the students with great employment options. But my cost/reward math doesn’t work. The denominator is zero. So Princeton lost a recruiter node in their network for now. Further, now those student nodes back on campus don’t hear from me. I and people like me don’t add our numbers to their life dashboards saying “work for a startup in SF.” So the math for other ideas like Goldman Sachs and McKinsey gets stronger over the years. The strong get stronger. Again, preferential attachment in the network. Students look at the network math on their life dashboards and they choose the mathematically correct choice.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eWhat kind of career or industry do alumni of this college typically work in?\u003c/strong\u003e Here’s an example of how this works. My 23-year-old nephew went to Trinity College in Connecticut. Most of the students from that college end up working in finance in NYC or Boston. Guess what my nephew now does? He works in finance in Boston. He followed the least resistance path, leading him to the highest paying, highest status outcome similar to his network. Is his choice of job about his own unique abilities and interests? No. It’s the math of the networks. He made the correct choice based on the options presented on his life dashboard by his networks.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eDo you relate to the other students naturally? \u003c/strong\u003eWill they relate to you? Do the students represent the type of aspirations, lifestyle, and interests you want for yourself? There’s no point in joining a network where you won’t actually bond with the other nodes, no matter how prestigious that network is.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow big is the college? \u003c/strong\u003eThe bigger the college, the bigger the alumni network. The bigger the alumni network, the more weak ties you have, which are great for career, marriage, and a host of other life attributes. Harvard Business School has figured this out and has classes of 900 compared to Stanford and MIT Sloan of 400.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow strong is the affinity between graduates?\u003c/strong\u003e Like with high school, how much do alumni brag they went to that college? How much do they come back for reunions? How passionate are they about the brand of the school? Do they use it as a strong identity marker or are they indifferent?\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eIs it clear what it says about the graduates that they went to that college?\u003c/strong\u003e A clear, strong brand lights up other networks because external nodes know what to expect from you if you’re a member.\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eIn addition to that, and I suspect this will be controversial, you should probably \u003cem\u003ede\u003c/em\u003e-emphasize questions like:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eWhere does the college rank in US News \u0026amp; World Report college prestige list that dates back to 1981\u003c/li\u003e\n\u003cli\u003eAre the classes amazing?\u003c/li\u003e\n\u003cli\u003eIs there a sports team I’m keen to play on?\u003c/li\u003e\n\u003cli\u003eIs there a particular professor I want to work with or a particular major I want to pursue? Only \u003ca href=\"https://www.washingtonpost.com/news/wonk/wp/2013/05/20/only-27-percent-of-college-grads-have-a-job-related-to-their-major/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e27% of college grads\u003c/a\u003e end up with a job closely related to their major.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eCollege is possibly best seen as a place for network formation, and creating the network topology you want. The network you join will lead you to a geography, a type of work, certain ideas about life, and a group of dating/marriage options that will all have a big influence on your life. All that network force will be pushing on you to then take the mathematically obvious path from there, one which will feel like the “right decision”.\u003c/p\u003e\n\u003ch2 id=\"crossroad-4-first-job\"\u003eCrossroad #4 \u0026#8211; First Job\u003c/h2\u003e\n\u003cp\u003e\u003cem\u003eThe professional relationships you form during your first job are the seed of your professional network which influences the arc of your career — from how you think about work, to how you’re known, to the geography where you have advantaged job access for a long time. \u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eIn working life, you see your coworkers every day of the week for 8 or more hours per day. The frequency of interaction with coworkers, at this stage in life, may be even higher than what you have with your family.\u003c/p\u003e\n\u003cp\u003ePrevailing wisdom says you should pick your first job based on the highest income, or the one that you’re most passionate about, or the skills you’ll learn, or where the day to day will be the most energizing for you.\u003c/p\u003e\n\u003cp\u003eAll of this is flat wrong. In your first job, go work with people whose career path you want to emulate. Optimize for network.\u003c/p\u003e\n\u003cp\u003eThe early professional relationships you form will have a bigger influence on your skillset, your lifetime earning potential, and the mastery of your craft than the particulars of your job description, the income, the company perks, or the brand name on your resume.\u003c/p\u003e\n\u003cp\u003eIn almost every field — from theoretical physics to growth marketing — top performers were mentored, influenced by, or otherwise connected to other top performers.\u003c/p\u003e\n\u003cp\u003eThere are a couple of reasons for this. First, as we saw in the high school section, high achievement is communicable. Surround yourselves with high achievers, and probability is on your side, you will become like them.\u003c/p\u003e\n\u003cp\u003eSecond, innovation is contagious. If your first job is at a place that’s a breeding ground of innovation, the chances are a lot higher that you’ll come across some really good ideas — especially if you want to start a company one day.\u003c/p\u003e\n\u003cp\u003eThe PayPal Mafia was no coincidence. Network clusters are capable of producing multiple future billionaires. There is no upper price, in terms of effort, difference in income, or even cost of living, that can even close to compare to the upside of being part of a network of high achievers in your first or second or third job.\u003c/p\u003e\n\u003cp\u003eSo, when making a decision about where you want to work, instead of asking:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eWill this give me the work I want to do daily?\u003c/li\u003e\n\u003cli\u003eIs this the best offer I got in terms of income?\u003c/li\u003e\n\u003cli\u003eDoes this company look good on my resume?\u003c/li\u003e\n\u003cli\u003eDoes this company let me take as much vacation as I want, have free catered lunches, and a fancy office?\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eDo yourself a favor and ignore all of it. Focus on these questions instead:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eIs this job in the right city? The city I want to live in long term?\u003c/li\u003e\n\u003cli\u003eWill I like and respect my co-workers? Will they like and respect me?\u003c/li\u003e\n\u003cli\u003eDo I want to be like my bosses someday?\u003c/li\u003e\n\u003cli\u003eDo my co-workers career aspirations match mine?\u003c/li\u003e\n\u003cli\u003eAm I going to be working with the best?\u003c/li\u003e\n\u003cli\u003eIs there a strong culture and camaraderie?\u003c/li\u003e\n\u003cli\u003eWill I have opportunities to prove myself to others at my company to build my network bonds?\u003c/li\u003e\n\u003cli\u003eAre employees proud of their company and their brand? Do they enthusiastically recruit? Do they seek each other out when outside of work? This indicates strong network bonds are forming.\u003c/li\u003e\n\u003cli\u003eAre there \u003ca href=\"https://www.nfx.com/post/building-strong-companies-the-no-politics-rule\" target=\"_blank\" rel=\"noopener noreferrer\"\u003epolitics in the office\u003c/a\u003e that could threaten the building of strong network bonds?\u003c/li\u003e\n\u003cli\u003eLastly, because top performers tend to congregate in rising companies, if it’s a startup, ask if it has strong potential \u003ca href=\"https://www.nfx.com/post/defensibility-most-value-for-founders\" target=\"_blank\" rel=\"noopener noreferrer\"\u003edefensibility\u003c/a\u003e against competitors, especially \u003ca href=\"https://www.nfx.com/post/network-effects-manual\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enetwork effects\u003c/a\u003e, and whether it has the \u003ca href=\"https://www.nfx.com/post/9-habits-world-class-startups\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e9 habits of world-class startups.\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003eCrossroad #5 \u0026#8211; Marriage/Choosing a Life Partner\u003c/h2\u003e\n\u003cp\u003e\u003cem\u003eMarriage, or choosing a life partner, is one of the most important decisions you make in life. It could be the source of your greatest joy and/or your greatest suffering at a very personal level. In terms of the network model, it’s powerful because you are choosing someone else’s full network to add to yours. This person will also share the very center of your network hierarchy with you.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eIn many cases, this person will produce your children with you. Not only will parenthood be a focus of a lot of your life’s energies, but in addition, your children’s full networks will be added to yours for the rest of your life.\u003c/p\u003e\n\u003cp\u003eChildren are shaped by how you nurture them as parents, and as we’ve seen earlier in the discussion of family, they are shaped by the networks brought to them by their parents. Your children are brought into, and partially inherit, the networks of both parents.\u003c/p\u003e\n\u003cp\u003eFor 60% of people, how you meet their significant other is determined mostly by who you know and who you get introduced to, although that\u0026#8217;s changing with the “digital people network” layer beginning to break down geographic networks and other closed networks. In 2017,\u003ca href=\"https://qz.com/1546677/around-40-of-us-couples-now-first-meet-online/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e 39% of all US marriages originated by meeting online\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u0026#8220;It is one of the most profound changes in life in the US\u0026#8221; and the best example of what we\u0026#8217;ve been hoping the Internet might do for a long time — moving from unchosen network forces constraining options to a global, digital network empowering your own preferences and agency.\u003c/p\u003e\n\u003cp\u003eI ran the largest self-assessment testing and matchmaking company in the world. We had 150M users and 10s of personality tests written by my staff of 5 PhDs to help people connect better. We also ran a matchmaking site with 30 million users that took advantage of those tests to match people. What my team told me at the time was that the most successful marriages were ones where 1) the two people were the most similar, and 2) they had shared network connections.\u003c/p\u003e\n\u003cp\u003eWhat this means is that when you’re dating someone, you’re not just dating them. You’re dating their networks — their friends, family, and colleagues. And vice versa.\u003c/p\u003e\n\u003cp\u003eCompatibility between two people in terms of their individual characteristics is sometimes much less important than the compatibility between their networks. This is one possible reason why there is a surprisingly low divorce rate amongst arranged matches made solely on the basis of compatibility between kin networks.\u003c/p\u003e\n\u003cp\u003eAlthough online dating is gaining ground, meeting through friends is \u003ca href=\"https://www.technologyreview.com/s/609091/first-evidence-that-online-dating-is-changing-the-nature-of-society/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003estill the most common way to meet someone\u003c/a\u003e. Further, what the statistics don\u0026#8217;t yet show is how many of the 39% who met online had strong affinity networks already in place before meeting online, but just needed to shortcut the longer, in person, process with the tech layer to find each other.\u003c/p\u003e\n\u003cp\u003eSo how do you find a spouse?\u003c/p\u003e\n\u003cp\u003eThis is where Mark Granovetter’s famous work on \u003ca href=\"https://www.nfx.com/post/network-effects-archives#2-the-strength-of-weak-ties\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eThe Strength of Weak Ties\u003c/a\u003e becomes relevant:\u003c/p\u003e\n\u003cblockquote\u003e\u003cp\u003e“The stronger the tie between [two individuals], the larger the proportion of individuals to whom they will \u003cem\u003eboth \u003c/em\u003ebe tied.” \u0026#8211; Mark Granovetter\u003c/p\u003e\u003c/blockquote\u003e\n\u003cp\u003eGiven this, everyone in your “inner circle” probably already knows each other. The closest friendships you have, because of the structure of social network clusters, will have close to a 100% degree of network overlap with you.\u003c/p\u003e\n\u003cp\u003eSo what this means is that \u003cstrong\u003eyour closest friends are usually poor nodes in your network \u003c/strong\u003eto pursue romantic interests. There are two possibilities if you go this route:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e(More likely) Your closest friends won’t be able to introduce you to anyone new.\u003c/li\u003e\n\u003cli\u003e(More unlikely) Your close friends introduce you to a close friend of theirs that you didn’t previously know. You end up dating, and in the high percentage of cases where things don’t work out, the blowback from the ruined relationship wreaks havoc in your network cluster, forcing your friends to choose.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eThat’s not to say that it’s impossible for people to become friends and then later become romantically involved. But for the purposes of meeting someone new, friends of the inner circle of your network map are not the place to start.\u003c/p\u003e\n\u003cp\u003eThis is where your acquaintances — the weak ties at the outer layer of your network map — become vital. As we know from the \u003ca href=\"https://www.nfx.com/post/network-effects-archives#collective-dynamics-of-small-world-networks\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ework of Duncan Watts and Steven Strogatz\u003c/a\u003e, acquaintances serve as vital “bridges” between tightly knit network clusters. For people looking to be exposed to new dating prospects, job leads, ideas, beliefs, or lifestyles that differ from what they’re used to, there’s no better way to do it than through an acquaintance.\u003c/p\u003e\n\u003cp\u003eSmart questions to ask yourself when you’re single and looking to meet someone:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003eWhich acquaintance is most likely to know a lot of people that you’re compatible with?\u003c/strong\u003e Not all people have equally large networks, and some people you know may be “hubs” that have a large number of connections. If you can find someone like this, they are usually quite helpful in meeting new people. “Hubs” frequently have weak ties to a lot of different cliques, groups, and sub-networks. They’re usually happy to make introductions.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eDo you get along with their friends? \u003c/strong\u003eDo your friends get along with them? If you’re serious about the relationship, consider whether you’d be willing to bring those people into your life. If so, it’s a lot more likely that your relationship will last in the long haul.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eDo you get along with their family? The importance of in-laws isn’t to be underestimated. It’s easy to dismiss this in a culture that preaches that true love is all you need, but network theory tells us differently. Your in-laws are the core network of the person you’ll be closest with in life. What may seem like minor issues at first can grow into powerful problems over the long course of a lifetime.\u003c/strong\u003e\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAre you in the same geographic network?\u003c/strong\u003e When a couple is geographically challenged, it puts a real strain on their relationship.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eCould there be blowback if it doesn’t work out?\u003c/strong\u003e Everyone knows why it’s a bad idea to date a coworker or someone else who you might see on a regular basis if you break up. Network forces are why. The same applies if you share a lot of mutual friends — especially if you ever get divorced. You put your friends in a position where they have to choose, and you risk losing some of the relationships you’ve built up over a lifetime. Don’t underestimate this risk.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003eCrossroad #6 \u0026#8211; Where You Live\u003c/h2\u003e\n\u003cfigure class=\"w-richtext-align-center w-richtext-figure-type-image\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Where-Your-Live-Image.png\" alt=\"Where Your Live Image\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003eWhere to live powerfully impacts the relationships and direction of your life, in ways you may not even realize. When coming out of college, this is even more important to your life than your choice of job.\u003c/p\u003e\n\u003cp\u003eAs mentioned previously, physical proximity is predictive of network formation. Cities, from a network perspective, are like scaled-up colleges. Network density, frequency, similarity, and status accumulation all drive urban network formation. Cities do a great job of helping us form our networks because they are networks themselves, both physical and social.\u003c/p\u003e\n\u003cp\u003eWhere you live largely determines who you know. Who you know largely determines the richness of your life and your access to wealth and information. Your network is a form of wealth. It brings you friends, career opportunities, or a spouse.\u003c/p\u003e\n\u003cp\u003eCommitting to a geography and developing a network increases your access to all the experiences and resources you might want.\u003c/p\u003e\n\u003cp\u003eAs the great Saar Gur — Partner at CRV and investor in Doordash, Classpass, Patreon, Bird and many other well-known companies — said to me recently, “Staying in the SF Bay Area after business school was the most impactful decision I’ve ever made. Everything else was noise.”\u003c/p\u003e\n\u003cp\u003eIt’s certainly the most common life advice I give to people. Pick your city first. Everything flows from that. Your job, spouse, friends, income, and other opportunities flow from that core choice. The reason is network forces.\u003c/p\u003e\n\u003cp\u003eIt’s important to note that your “choice” of city may be greatly influenced by the network force from the earlier networks you’ve accumulated. Take note of that and steel yourself to have the courage to make what sociologists call a “major move” if you decide that move makes sense. (Hint: it most likely does).\u003c/p\u003e\n\u003cp\u003eMaking a clean break to move to the place that would facilitate your best life is hard. Network forces keep you on your path. The network wants something from you. Your boyfriend, a parent, high school friends, college friends, your weekend sports team, your roommate, your comfortable job.\u003c/p\u003e\n\u003cp\u003eThis is true for those of us lucky enough to have a lot of resources and equally true for those with far fewer resources. In \u003ca href=\"https://www.newyorker.com/magazine/2015/08/24/starting-over-dept-of-social-studies-malcolm-gladwell?verso=true\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ethis article in the New Yorker\u003c/a\u003e, Malcolm Gladwell reported on research done by sociologist Corina Graif on people at the lower end of the socioeconomic spectrum who were forced to undertake a “major move” out of New Orleans by hurricane Katrina to growing cities like Houston.\u003c/p\u003e\n\u003cp\u003eInterestingly, their standard of living ended up rising significantly just as a consequence of the move — even though they were forced to do it by disastrous circumstances. It turned out to be a positive move, but they would never have undertaken it if they hadn’t been forced to by a natural disaster. As Gladwell points out, it gave “them a chance to rethink what they do.” But more importantly, it gave them a new network-geographic context. New network forces. New resources, ideas, jobs, and commonly accepted standards.\u003c/p\u003e\n\u003cp\u003eIt could be that this dependence on location-based networks is changing thanks to the internet and telecommunications in general, since it’s now easier to maintain and form networks in spite of geographical distance. But we’re just 25 years into the digital world, and that process will take 50-75 more years to play out.\u003c/p\u003e\n\u003cp\u003eIn the startup industry, digital tools like \u003ca href=\"https://signal.nfx.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eSignal \u003c/a\u003eand \u003ca href=\"https://thecompanybrief.com/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eThe Company Brief\u003c/a\u003e open up access to knowledge and communication formerly only available to people living in Silicon Valley for many years.\u003c/p\u003e\n\u003cp\u003eSome people are able to use the internet to find, build, and maintain human networks — usually around a niche or interest like gaming, cars, or fashion. For most, the Internet simply reinforces or super-imposes upon the networks they build in real life. For everyone who doesn’t do most of their networking online, physical location matters.\u003c/p\u003e\n\u003cp\u003eThe network math of cities underlies their attractiveness, and helps explain why the planet is rapidly urbanizing. In short, because of a city’s network properties, as it gets bigger, it gives its citizens 15% more of what they want in terms of income, ideas, speed, and stimulation, and it costs 15% less to give it to them in the form of roads, electricity, water, gas lines, gas stations and safety services. That 30% gap is significant and is driven by a city’s network effects.\u003c/p\u003e\n\u003cp\u003eThe higher rate of social interactions in a city has important consequences for your ongoing network topology. Larger cities mean more access to network clusters, leading to a greater diversity of talent, ideas, and backgrounds versus smaller cities. It also means meeting new people will be easier, but forging strong bonds could possibly be harder.\u003c/p\u003e\n\u003cfigure id=\"w-node-c6ddff472d04-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2020/02/Your-networks-are-a-form-of-wealth..jpg\" alt=\"Your networks are a form of wealth.\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003eWith all this in mind, when deciding where to live, here are some questions to ask yourself:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\u003cstrong\u003eAre the people in this city like me? \u003c/strong\u003eEach city has a vibe that may or may not fit with you. Each city calls ambitious people to improve in some area. NYC calls you to earn more money. Seattle and Portland call you to recreate more. DC calls you to be more connected. SF calls you to create more, invent more. It’s the garage where the crazy uncle is inventing crazy inventions. If you can find a city that drives you in the way you want to be driven, then you’re in luck and you should settle down and build your network and your life with your people. If one city doesn’t call to you, find a sub-network of people that call to you in a city you don’t mind.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow long can you see yourself staying there?\u003c/strong\u003e The networks you build when living somewhere atrophy when you move somewhere else. Your networks are a form of wealth, and every time you move, you’re resetting your bank account.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow important is your career to you?\u003c/strong\u003e Because GDP scales nonlinearly with population size in cities, your career earnings will grow faster in a city than elsewhere. More importantly, the opportunity to build out your professional network and meet top talent in your industry will be higher in bigger cities.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow much do you enjoy a fast pace of life?\u003c/strong\u003e In a big city, everything moves faster. People walk faster, opportunities arise more frequently, you meet new people and encounter new ideas more often. It’s all an inevitable consequence of greater network size and density.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eHow much do you enjoy or value meeting new people?\u003c/strong\u003e If you are looking to build out the middle and outer layers of your network hierarchy, cities are a great place to do it.\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eAre the core parts of your network topology filled in?\u003c/strong\u003e Do you have close relationships that you’re happy with and can rely on? If not, a smaller city may be a better place for you than a big one.\u003c/li\u003e\n\u003c/ol\u003e\n\u003ch2\u003eCrossroad #7 \u0026#8211; Reassessments\u003c/h2\u003e\n\u003cp\u003eAt any point, you can choose to reassess the course you’re on.\u003c/p\u003e\n\u003cp\u003eThe network gravity has been building up since your birth and gets stronger over time. Each network adding and integrating with the others, changing the math on your dashboard until it’s near destiny. But you can decide to ignore that network math and forcibly make a change. This actually gets easier for older people who are done with their “shoulds.” When they’ve raised their kids, built their careers, earned some money. That’s why you see mid-life crises. The network force has been guiding someone for their whole lives, and then it stops exerting so much pressure and the person can consider their own innate interests and agency.\u003c/p\u003e\n\u003cp\u003eThe most lasting and effective way to change your life is to change who you’re surrounded by. Since networks so powerfully shape who we are and what we do, the best way to change ourselves is to change our networks.\u003c/p\u003e\n\u003cp\u003eThis is a big limitation at the way we look at self-development and self-transformation. We think we can just roll out of bed one day, make a few new year’s resolutions, and become a new person. But this approach ignores the biggest part in the equation of who you are and what defines your life — the network force.\u003c/p\u003e\n\u003cp\u003eThis isn’t to absolve us of responsibility for our actions and to shift the blame to others. Rather, it’s to underline the fact that we are powerfully constrained by our network contexts. So the smartest use of energy for those of us looking to make a change can often be to carefully reassess the networks we’re a part of, and find ways to join new ones that are better suited to the life path we want to be on.\u003c/p\u003e\n\u003cp\u003eOn the flip side, if life is going well and you’re happy, understand how important networks are. Double down on your relationships. Cherish the people in your life and be aware of the value of their relationships and the networks you’re a part of.\u003c/p\u003e\n\u003cp\u003eOur networks are our most valuable resource. They are the way our lives express themselves. Those networks are made up of all the people you care about, the people you, inspire, move, and help to live their best lives.\u003c/p\u003e\n\u003cfigure id=\"w-node-0dc7d6d2c3bb-d3a748fc\" class=\"w-richtext-align-fullwidth w-richtext-figure-type-image\" style=\"max-width: 1200pxpx;\"\u003e\u003c/figure\u003e\n","protected":false},"excerpt":{"rendered":"\u003cp\u003eRevealing the Unseen Forces That Guide Your Life \u0026nbsp; What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It c","protected":false},"author":1,"featured_media":18671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,90,97,88,89,91,100],"tags":[8],"acf":{"short_description":"What city you live in. Who you date or marry. Which job you choose. What clothes you wear.We all think we make these choices ourselves. It certainly feels like we’re in full control. But it turns out that our choices — both in our startups and in our lives — are more constrained than we think. The unseen hand in all them is the networks that surround us and the powerful math they exert on us.","select_post_user":[575],"related_posts":[6087,116,158],"similar_essay":7062,"duration":"46 min","homapage_image":18584},"yoast_head":"\u003c!-- This site is optimized with the Yoast SEO plugin v18.3 - https://yoast.com/wordpress/plugins/seo/ --\u003e\n\u003ctitle\u003eYour Life is Driven by Network Effects\u003c/title\u003e\n\u003c!-- Admin only notice: this page does not show a meta description because it does not have one, either write it for this page specifically or go into the [SEO - Search Appearance] menu and set up a template. --\u003e\n\u003cmeta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" /\u003e\n\u003clink rel=\"canonical\" href=\"https://content.nfx.com/post/your-life-network-effects\" /\u003e\n\u003cmeta property=\"og:locale\" content=\"en_US\" /\u003e\n\u003cmeta property=\"og:type\" content=\"article\" /\u003e\n\u003cmeta property=\"og:title\" content=\"Your Life is Driven by Network Effects\" /\u003e\n\u003cmeta property=\"og:description\" content=\"Revealing the Unseen Forces That Guide Your Life \u0026nbsp; What city you live in. Who you date or marry. Which job you choose. What clothes you wear. We all think we make these choices ourselves. It certainly feels like we’re in full control. But it turns out that our choices — both in our startups and in \u0026hellip; Continue reading \u0026quot;Your Life is Driven by Network Effects\u0026quot;\" /\u003e\n\u003cmeta property=\"og:url\" content=\"https://content.nfx.com/post/your-life-network-effects\" /\u003e\n\u003cmeta property=\"og:site_name\" content=\"NFX\" /\u003e\n\u003cmeta property=\"article:publisher\" content=\"https://www.facebook.com/nfxsf/\" /\u003e\n\u003cmeta property=\"article:published_time\" content=\"2020-02-25T11:29:47+00:00\" /\u003e\n\u003cmeta property=\"article:modified_time\" content=\"2023-12-12T00:16:24+00:00\" /\u003e\n\u003cmeta property=\"og:image\" content=\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-social.jpg\" /\u003e\n\t\u003cmeta property=\"og:image:width\" content=\"1200\" /\u003e\n\t\u003cmeta property=\"og:image:height\" content=\"628\" /\u003e\n\t\u003cmeta property=\"og:image:type\" content=\"image/jpeg\" /\u003e\n\u003cmeta name=\"twitter:card\" content=\"summary_large_image\" /\u003e\n\u003cmeta name=\"twitter:creator\" content=\"@NFX\" /\u003e\n\u003cmeta name=\"twitter:site\" content=\"@NFX\" /\u003e\n\u003cmeta name=\"twitter:label1\" content=\"Written by\" /\u003e\n\t\u003cmeta name=\"twitter:data1\" content=\"NFX\" /\u003e\n\t\u003cmeta name=\"twitter:label2\" content=\"Est. reading time\" /\u003e\n\t\u003cmeta name=\"twitter:data2\" content=\"43 minutes\" /\u003e\n\u003cscript type=\"application/ld+json\" class=\"yoast-schema-graph\"\u003e{\"@context\":\"https://schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https://content.nfx.com/#website\",\"url\":\"https://content.nfx.com/\",\"name\":\"NFX\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://content.nfx.com/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https://content.nfx.com/post/your-life-network-effects#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-social.jpg\",\"contentUrl\":\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-social.jpg\",\"width\":1200,\"height\":628},{\"@type\":\"WebPage\",\"@id\":\"https://content.nfx.com/post/your-life-network-effects#webpage\",\"url\":\"https://content.nfx.com/post/your-life-network-effects\",\"name\":\"Your Life is Driven by Network Effects\",\"isPartOf\":{\"@id\":\"https://content.nfx.com/#website\"},\"primaryImageOfPage\":{\"@id\":\"https://content.nfx.com/post/your-life-network-effects#primaryimage\"},\"datePublished\":\"2020-02-25T11:29:47+00:00\",\"dateModified\":\"2023-12-12T00:16:24+00:00\",\"author\":{\"@id\":\"https://content.nfx.com/#/schema/person/d3f37b0a88d9e43e60e44e6f71d2ed4a\"},\"breadcrumb\":{\"@id\":\"https://content.nfx.com/post/your-life-network-effects#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https://content.nfx.com/post/your-life-network-effects\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https://content.nfx.com/post/your-life-network-effects#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https://content.nfx.com/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Your Life is Driven by Network Effects\"}]},{\"@type\":\"Person\",\"@id\":\"https://content.nfx.com/#/schema/person/d3f37b0a88d9e43e60e44e6f71d2ed4a\",\"name\":\"NFX\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https://content.nfx.com/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https://secure.gravatar.com/avatar/0adfbe0270db93c54571011bba3e3ba9?s=96\u0026d=mm\u0026r=g\",\"contentUrl\":\"https://secure.gravatar.com/avatar/0adfbe0270db93c54571011bba3e3ba9?s=96\u0026d=mm\u0026r=g\",\"caption\":\"NFX\"},\"description\":\"This admin user\",\"url\":\"https://content.nfx.com/author/admin\"}]}\u003c/script\u003e\n\u003c!-- / Yoast SEO plugin. --\u003e","yoast_head_json":{"title":"Your Life is Driven by Network Effects","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https://content.nfx.com/post/your-life-network-effects","og_locale":"en_US","og_type":"article","og_title":"Your Life is Driven by Network Effects","og_description":"Revealing the Unseen Forces That Guide Your Life \u0026nbsp; What city you live in. 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NFX","isPartOf":{"@id":"https://content.nfx.com/#website"},"datePublished":"2023-05-16T23:33:39+00:00","dateModified":"2023-05-17T00:58:38+00:00","breadcrumb":{"@id":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg"]}]},{"@type":"BreadcrumbList","@id":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://content.nfx.com/"},{"@type":"ListItem","position":2,"name":"Your Life is Driven by Network Effects","item":"https://content.nfx.com/post/your-life-network-effects"},{"@type":"ListItem","position":3,"name":"your-life-network-effects-v1"}]}]}},"description":{"rendered":"\u003cp class=\"attachment\"\u003e\u003ca href='https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg'\u003e\u003cimg width=\"300\" height=\"157\" src=\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-300x157.jpg\" class=\"attachment-medium size-medium\" alt=\"\" loading=\"lazy\" srcset=\"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-300x157.jpg 300w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-1024x536.jpg 1024w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-768x402.jpg 768w, https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg 1200w\" sizes=\"100vw\" /\u003e\u003c/a\u003e\u003c/p\u003e\n"},"caption":{"rendered":""},"alt_text":"","media_type":"image","mime_type":"image/jpeg","media_details":{"width":1200,"height":628,"file":"2023/05/your-life-network-effects-v1.jpg","sizes":{"medium":{"file":"your-life-network-effects-v1-300x157.jpg","width":300,"height":157,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-300x157.jpg"},"large":{"file":"your-life-network-effects-v1-1024x536.jpg","width":1024,"height":536,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-1024x536.jpg"},"thumbnail":{"file":"your-life-network-effects-v1-150x150.jpg","width":150,"height":150,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-150x150.jpg"},"medium_large":{"file":"your-life-network-effects-v1-768x402.jpg","width":768,"height":402,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-768x402.jpg"},"twentyseventeen-thumbnail-avatar":{"file":"your-life-network-effects-v1-100x100.jpg","width":100,"height":100,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1-100x100.jpg"},"full":{"file":"your-life-network-effects-v1.jpg","width":1200,"height":628,"mime_type":"image/jpeg","source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg"}},"image_meta":{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0","keywords":[]}},"post":2644,"source_url":"https://content.nfx.com/wp-content/uploads/2023/05/your-life-network-effects-v1.jpg","_links":{"self":[{"href":"https://content.nfx.com/wp-json/wp/v2/media/18584"}],"collection":[{"href":"https://content.nfx.com/wp-json/wp/v2/media"}],"about":[{"href":"https://content.nfx.com/wp-json/wp/v2/types/attachment"}],"author":[{"embeddable":true,"href":"https://content.nfx.com/wp-json/wp/v2/users/7052"}],"replies":[{"embeddable":true,"href":"https://content.nfx.com/wp-json/wp/v2/comments?post=18584"}]}},"relatedPosts":[{"id":6087,"date":"2020-10-16T00:24:34","date_gmt":"2020-10-16T00:24:34","guid":{"rendered":"https://content.nfx.com/post/"},"modified":"2022-04-27T15:28:52","modified_gmt":"2022-04-27T22:28:52","slug":"15th-network-effect-tribal","status":"publish","type":"post","link":"https://content.nfx.com/post/15th-network-effect-tribal","title":{"rendered":"The Tribal Network Effect (nfx #15)"},"content":{"rendered":"\u003cp\u003e\u003cimg loading=\"lazy\" class=\"aligncenter size-full wp-image-6092\" src=\"https://content.nfx.com/wp-content/uploads/2021/01/Header-scaled-1.jpg\" alt=\"Tribal nfx\" width=\"2560\" height=\"1440\" /\u003e\u003c/p\u003e\n\u003cp\u003eIn 2017 we published \u003ca href=\"https://www.nfx.com/post/network-effects-manual/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ethe NFX Manual\u003c/a\u003e which laid out 13 types of network effects. We later identified and published the “\u003ca href=\"https://www.nfx.com/post/14th-network-effect-expertise/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eExpertise\u003c/a\u003e” network effect, which was the 14th type.\u003c/p\u003e\n\u003cp class=\"p1\"\u003e[similar_post]\u003c/p\u003e\n\u003cp\u003eToday, we’re sharing the 15th type of network effect: \u003cstrong\u003eTribal Network Effects\u003c/strong\u003e.\u003c/p\u003e\n\u003cp\u003eThe easiest way to understand Tribal network effects is to start by looking at the powerful network forces of school alumni networks, as discussed in \u003ca href=\"https://www.nfx.com/post/your-life-network-effects/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eYour Life Is Driven By Network Effects\u003c/a\u003e. Tribal network effects most often develop in alumni networks of schools, military units, fraternities and sororities, accelerators, languages, regions, and religions.\u003c/p\u003e\n\u003cp\u003eTribal network effects are another of what we call “social” network effects, joining the three other social nfx we’ve identified: \u003ca href=\"https://www.nfx.com/post/network-effects-manual/#bandwagon-social\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eBandwagon\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/post/network-effects-manual/#language-social\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eLanguage\u003c/a\u003e, and \u003ca href=\"https://www.nfx.com/post/network-effects-manual/#belief-social\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eBelief\u003c/a\u003e. This is because they exist in the minds of people and not in data and wires. The unique attribute of Tribal network effects is that they exist because of how people form their identities around (no surprise)\u0026#8230; tribes.\u003c/p\u003e\n\u003cp\u003eWe suspect this was the very first network effect historically, as \u003cem\u003eHomo sapiens\u003c/em\u003e evolved as a pack animal, trying to survive. The ones that built the best tribes survived to procreate, so we are all descendants of the best tribe builders. Those who weren’t good at building or joining tribes died off. Thus, our brains are wired to join tribes.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"aligncenter size-full wp-image-6111\" src=\"https://content.nfx.com/wp-content/uploads/2021/01/CU-1-2-scaled-1.jpg\" alt=\"NFX Map with #15\" width=\"1887\" height=\"2560\" /\u003e\u003c/p\u003e\n\u003cdiv id=\"om-z5d2o6qs3ab736csco7k-holder\"\u003e\u003c/div\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003e\u003c/h2\u003e\n\u003ch2\u003eHow Tribal Networks Form\u003c/h2\u003e\n\u003cp\u003eA few key things contribute to the formation of strong Tribal network effects:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eThe tribe is presented as an ingredient of a person’s identity, part of how that person is perceived by others. One might think: “It’s who I am.” This forms a self-concept.\u003c/li\u003e\n\u003cli\u003eNetwork members within the tribe are taught to be intentional about building the value of the tribe by:\u003cbr /\u003e\na. adding value to other tribe members,\u003cbr /\u003e\nb. defending the tribe’s reputation,\u003cbr /\u003e\nc. receiving value from the tribe members, and\u003cbr /\u003e\nd. growing the tribe.\u003cbr /\u003e\nThis intentional value creation and defense of a network is distinct from other types of network effects, where nodes largely contribute value and drive network effects unintentionally.\u003c/li\u003e\n\u003cli\u003eIn contrast to the in-group of the tribe, there is an out-group that the tribe is actively NOT. A different group, a rival, an enemy, a force to be fought.\u003c/li\u003e\n\u003cli\u003eA perception of higher-status attributes of members of the tribe, creating prestige and pride. Evidence or reasoning that members of the tribe are more committed, more “right”, more justified, smarter, stronger, etc.\u003c/li\u003e\n\u003cli\u003eMembers of the tribe endure shared hardship or adversity, such as training for the marines, studying for tests in college, founding a company, or going through a boot camp of some kind.\u003c/li\u003e\n\u003cli\u003eTribe network members overcome a barrier to get into the tribe. There must be a believable reason for your inclusion, and some demonstration of your worth or “fitness” for inclusion. There is often a period of worrying you won’t “get in.” This creates exclusivity and belonging in the minds of the tribe members, reinforcing the other five attributes.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eNot all tribes share all six of these characteristics, but the more they do, the more powerful the tribal self-identification becomes in the minds of the tribe members, and thus the stronger the Tribal network effect.\u003c/p\u003e\n\u003cp\u003eAs with other network effects, \u003ca href=\"https://www.nfx.com/post/network-effects-bible/#nodes-and-links\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enetwork size\u003c/a\u003e and \u003ca href=\"https://www.nfx.com/post/network-effects-bible/#network-density\" target=\"_blank\" rel=\"noopener noreferrer\"\u003enetwork density\u003c/a\u003e also matter in the formation and strength of Tribal network effects. The larger the tribe, up to a point, the more valuable it becomes because you are more likely to encounter and form relationships with other nodes. College alumni networks, for example, often have clusters in many different cities and companies where alumni seek each other out. Tribal networks also have a higher density of relationships between nodes because self-identification between tribe members causes them to look for shared affinities, and motivates them to altruistic behavior towards other nodes in the network.\u003c/p\u003e\n\u003cp\u003eThat, in turn, leads to a higher proportion of shared connection between tribe members than in other types of networks, which incentivizes further relationship-formation and sets off a virtuous cycle. In a tribal network, people (often unconsciously) recognize that \u003cem\u003epotential\u003c/em\u003e connections are more likely to materialize into \u003cem\u003eactual\u003c/em\u003e connections, causing a self-fulfilling propensity to try harder to build in-tribe network connections. This creates a denser lattice of links between the nodes, driving network effects, and network value.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"aligncenter size-full wp-image-6112\" src=\"https://content.nfx.com/wp-content/uploads/2021/01/Medium-Banner-1-scaled-1.jpg\" alt=\"NFX Banner\" width=\"2560\" height=\"853\" /\u003e\u003c/p\u003e\n\u003cdiv id=\"om-izud8lkehmpjk5hrmnwz-holder\"\u003e\u003c/div\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003e\u003c/h2\u003e\n\u003ch2\u003eDifferent Forms and Strengths of Tribes\u003c/h2\u003e\n\u003cp\u003eWe each belong to many different tribes. In other words, we are each a node in many tribal networks. The way humans form their self-concept is through many different “identity pegs.” We are complex and multi-layered.\u003c/p\u003e\n\u003cp\u003eFor example, as a Princeton alum, I belong to the Princeton alumni tribe. As a Bostonian, I belong to the Boston tribe. As someone who built my life and career in Silicon Valley, I belong to the tech tribe. As an American citizen, I belong to the American tribe.\u003c/p\u003e\n\u003cp\u003eThe strength of each of these tribes depends first on how effectively they build network effects based on the six attributes listed above that contribute to tribal network formation.\u003c/p\u003e\n\u003cp\u003eThe strength of each tribe also changes based on the \u003cem\u003econtext\u003c/em\u003e. For instance, if I’m on a trip to Washington DC and I meet someone else from Silicon Valley, the “tech tribe” part of us might activate and give us more incentive to build a connection. The same thing applies if I meet someone who also went to Princeton, or if I see another Celtics fan on the street in Florida. These different tribal identity layers activate when they distinguish me from the broader network environment.\u003c/p\u003e\n\u003cp\u003eThe strength and importance of a tribal network are also based on how much membership \u003cem\u003edistinguishes\u003c/em\u003e you from others around you in the moment. The more you are distinguished, the stronger the self-identification with the tribe. This allows other nodes in the tribal network to more easily identify you and take action to support you, activating the tribal network effect.\u003c/p\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"aligncenter size-full wp-image-6105\" src=\"https://content.nfx.com/wp-content/uploads/2021/01/Gary-Larson.png\" alt=\"Gary Larson\" width=\"1208\" height=\"1593\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cem\u003eNFX does not own the rights to this cartoon. They are owned by the genius Gary Larson, the writer of The Far Side. Please visit his site https://www.thefarside.com\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eThe comic above exposes a serious point: \u003cstrong\u003ewe self-identify with and give value to those who share membership with us in a tribal network\u003c/strong\u003e. We’re incentivized to treat other tribe members as\u003cem\u003e if\u003c/em\u003e we know them, even if we don’t. In this case, the size of its tribal network saved the chicken’s life. Now that’s value! And network effects are about making more value for all members with every additional new member.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003eRivalry Reinforces Tribal Identity\u003c/h2\u003e\n\u003cp\u003eBecause our tribal identities are most triggered when they distinguish us from those around us, rivalries and competition play a key role in raising our level of self-identification with tribes.\u003c/p\u003e\n\u003cp\u003eFor example, think about some of the most famous sports rivalries: Duke vs. North Carolina, Ohio State vs. Michigan, Red Sox vs. Yankees, Liverpool vs. Manchester United, etc.\u003c/p\u003e\n\u003cp\u003eCompetition and rivalries improve group cohesion and power the network effect. It creates an in-group and an out-group, and the human mind is structured to highly value their in-group, particularly when the contrast with the out-group is most visible. We naturally respond to “a battle” of some kind, a force my tribe is “against.”\u003c/p\u003e\n\u003cp\u003eYou are more likely to feel protective and invested in your Duke tribal identity the day of a Duke vs. UNC game because the presence of a shared adversary increases the overall level of shared investment in the outcome. Nothing drives attention quite like the drama of “us against them.”\u003c/p\u003e\n\u003cp\u003eWhen your tribe wins, it feels like \u003cem\u003eyou\u003c/em\u003e win.\u003c/p\u003e\n\u003cp\u003eNote your daily personal experience of having your identity connected to tribal identities. It \u003cem\u003efeels\u003c/em\u003e positive when your tribes are winning, and it feels negative or dark when competing tribes are winning.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003eHow Founders Can Positively Leverage Tribal Network Effects\u003c/h2\u003e\n\u003cp\u003eThere are four main ways to put your new understanding of Tribal network effects to good use.\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003eThink of building a tribe for your \u003cstrong\u003eemployees\u003c/strong\u003e. This helps \u003ca href=\"https://www.nfx.com/post/nfx-company-culture-scorecard-and-manual/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ecreate great culture\u003c/a\u003e in your company. When you hear about a company that has very loyal employees who want to recruit everyone they know to work with them, it’s usually a sign that leadership is pushing hard on the elements that lead to strong tribal networks and a strong company culture. Examples of this are Amazon, Netflix, Facebook, and Microsoft.\u003c/li\u003e\n\u003cli\u003eThink of your \u003cstrong\u003ecustomers\u003c/strong\u003e as a tribe. Companies that do this successfully are Harley-Davidson, ActBlue, Apple, Facebook when they started with colleges, NFX with its portfolio who are its customers, and potentially boot camps like Lambda School.\u003c/li\u003e\n\u003cli\u003eThink of your \u003cstrong\u003einvestors and partners\u003c/strong\u003e as a tribe. Which investors/partners like and trust each other? Which investors/partners dislike each other? For instance, in healthcare, taking capital from one “strategic investor” like an insurance company such as United will mean that another insurance company will be less likely to use your software or service because you will be perceived as being in a competing tribe. The same might be true if you take capital from Salesforce Ventures in the SaaS space. Some American investors/partners might be suspicious if you take capital from certain countries.\u003c/li\u003e\n\u003cli\u003eThink about \u003cstrong\u003emarkets\u003c/strong\u003e as tribes. Which tribes are you drawing your customers and employees from? The more customers you win in one tribe, such as Lyft getting more customers in the Boston tribe, the more that tribe will hear about you and trust you, lowering your CAC and increasing retention. The more employees you hire from the Notre Dame tribe, the more Notre Dame alumni you will have access to.\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003eTribal Networks Have Transformative Value\u003c/h2\u003e\n\u003cp\u003e\u003cstrong\u003eOur tribal networks add value to our lives by giving us an emotional sense of belonging and identity, and by helping us form useful connections\u003c/strong\u003e.\u003c/p\u003e\n\u003cp\u003eFor Founders, tribal identities are powerful and enduring, and they generate transformative value throughout your lifetime.\u003c/p\u003e\n\u003cp\u003eIt’s one of the many reasons why at NFX we don’t call our “portfolio” of investments a “portfolio.” We call it the \u003ca href=\"https://content.nfx.com/companies/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003eNFX Guild\u003c/a\u003e. We’re in the business of giving all our companies every advantage we can. We believe that one of the best ways to do that is to nurture a tribal network effect in the NFX Guild, for the enduring, lifelong benefit of our Founders.\u003c/p\u003e\n\u003cp\u003eThe history of innovation shows that tight, dense, and engaged communities of innovators — tribes — are often at the forefront of technology’s biggest leaps forward. If that’s something you want to be a part of, \u003ca href=\"https://thecompanybrief.com/?utm_content=tribal-nfx\u0026amp;utm_source=nfxessays\" target=\"_blank\" rel=\"noopener noreferrer\"\u003ecome talk to us\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"aligncenter size-full wp-image-6112\" src=\"https://content.nfx.com/wp-content/uploads/2021/01/Medium-Banner-1-scaled-2.jpg\" alt=\"NFX Banner\" width=\"2560\" height=\"853\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n","protected":false},"excerpt":{"rendered":"\u003cp\u003eIn 2017 we published the NFX Manual which laid out 13 types of network effects. We later identified and published the “Expertise” network effect, which was the 14th type. [similar_post] Today, ","protected":false},"author":1,"featured_media":9178,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,89,91],"tags":[8],"acf":{"short_description":"","select_post_user":[575],"related_posts":[1577,110,10337],"similar_essay":116,"duration":"9 min","homapage_image":null},"yoast_head":"\u003c!-- This site is optimized with the Yoast SEO plugin v18.3 - https://yoast.com/wordpress/plugins/seo/ --\u003e\n\u003ctitle\u003eThe Tribal Network Effect (nfx #15)\u003c/title\u003e\n\u003cmeta name=\"description\" content=\"Today, we’re sharing the newest social nfx we\u0026#039;ve identified—the 15th type of network effect: Tribal Network Effects.\" /\u003e\n\u003cmeta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" /\u003e\n\u003clink rel=\"canonical\" href=\"https://content.nfx.com/post/15th-network-effect-tribal\" /\u003e\n\u003cmeta 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https://yoast.com/wordpress/plugins/seo/ --\u003e\n\u003ctitle\u003eNFX - Network Effects\u003c/title\u003e\n\u003cmeta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" /\u003e\n\u003clink rel=\"canonical\" href=\"https://content.nfx.com/tags/network-effects\" /\u003e\n\u003cmeta property=\"og:locale\" content=\"en_US\" /\u003e\n\u003cmeta property=\"og:type\" content=\"article\" /\u003e\n\u003cmeta property=\"og:title\" content=\"NFX - Network Effects\" /\u003e\n\u003cmeta property=\"og:url\" content=\"https://content.nfx.com/tags/network-effects\" /\u003e\n\u003cmeta property=\"og:site_name\" content=\"NFX\" /\u003e\n\u003cmeta name=\"twitter:card\" content=\"summary_large_image\" /\u003e\n\u003cmeta name=\"twitter:site\" content=\"@NFX\" /\u003e\n\u003cscript type=\"application/ld+json\" class=\"yoast-schema-graph\"\u003e{\"@context\":\"https://schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https://content.nfx.com/#website\",\"url\":\"https://content.nfx.com/\",\"name\":\"NFX\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://content.nfx.com/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"CollectionPage\",\"@id\":\"https://content.nfx.com/tags/network-effects#webpage\",\"url\":\"https://content.nfx.com/tags/network-effects\",\"name\":\"NFX - 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Network Effects","isPartOf":{"@id":"https://content.nfx.com/#website"},"breadcrumb":{"@id":"https://content.nfx.com/tags/network-effects#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://content.nfx.com/tags/network-effects"]}]},{"@type":"BreadcrumbList","@id":"https://content.nfx.com/tags/network-effects#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://content.nfx.com/"},{"@type":"ListItem","position":2,"name":"Network Effects"}]}]}},"_links":{"self":[{"href":"https://content.nfx.com/wp-json/wp/v2/tags/8"}],"collection":[{"href":"https://content.nfx.com/wp-json/wp/v2/tags"}],"about":[{"href":"https://content.nfx.com/wp-json/wp/v2/taxonomies/post_tag"}],"wp:post_type":[{"href":"https://content.nfx.com/wp-json/wp/v2/posts?tags=8"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]}}]]}},{"id":116,"date":"2019-07-25T07:30:16","date_gmt":"2019-07-25T07:30:16","guid":{"rendered":"https://content.nfx.com/?p=116"},"modified":"2024-01-03T14:05:06","modified_gmt":"2024-01-03T22:05:06","slug":"network-effects-bible","status":"publish","type":"post","link":"https://content.nfx.com/post/network-effects-bible","title":{"rendered":"The Network Effects Bible (Updated 2024)"},"content":{"rendered":"\u003cdiv class=\"essays-post-container w-richtext\"\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone size-full wp-image-18682\" src=\"https://content.nfx.com/wp-content/uploads/2023/05/nfx-bible.jpg\" alt=\"network effects bible\" width=\"1200\" height=\"628\" srcset=\"https://content.nfx.com/wp-content/uploads/2023/05/nfx-bible.jpg 1200w, https://content.nfx.com/wp-content/uploads/2023/05/nfx-bible-300x157.jpg 300w, https://content.nfx.com/wp-content/uploads/2023/05/nfx-bible-1024x536.jpg 1024w, https://content.nfx.com/wp-content/uploads/2023/05/nfx-bible-768x402.jpg 768w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" /\u003e\u003c/p\u003e\n\u003cp\u003eNetwork effects have been \u003ca href=\"https://www.nfx.com/post/70-percent-value-network-effects\" data-rt-link-type=\"external\"\u003eresponsible for 70% of all the value created in technology since 1994\u003c/a\u003e. Founders who deeply understand how they work will be better positioned to build category-defining companies.\u003c/p\u003e\n\u003cp\u003eThis reference for Founders will be continually updated and includes a comprehensive collection of terms and insights related to network effects all in one place. It\u0026#8217;s one of three definitive resources we\u0026#8217;ve written about network effects, also including:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003cstrong\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe NFX Manual\u003c/a\u003e\u003c/strong\u003e, which describes the 16 different types of network effects\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-archives/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e\u003cstrong\u003eThe NFX Archives\u003c/strong\u003e\u003c/a\u003e, a compendium of the most insightful articles ever written about network effects and network science\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003eRoadmap\u003c/h2\u003e\n\u003col\u003e\n\u003cli\u003eWhy Network Effects Are Important\u003c/li\u003e\n\u003cli\u003eHow Networks Work\u003c/li\u003e\n\u003cli\u003eProperties of Networks\u003c/li\u003e\n\u003cli\u003eBuilding and Maintaining Network Effects\u003c/li\u003e\n\u003cli\u003eRelated Concepts\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eView this presentation \u003ca href=\"https://www.slideshare.net/NFXvc/the-network-effects-bible-95560213\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eon Slideshare\u003c/a\u003e.\u003c/p\u003e\n\u003cfigure class=\"w-richtext-figure-type-video w-richtext-align-fullwidth\" style=\"padding-bottom: 83.33333333333334%;\" data-rt-type=\"video\" data-rt-align=\"fullwidth\" data-rt-max-height=\"83.33333333333334%\" data-rt-dimensions=\"600:500\" data-page-url=\"https://www.slideshare.net/NFXvc/the-network-effects-bible-95560213\"\u003e\n\u003cdiv\u003e\u003ciframe src=\"//cdn.embedly.com/widgets/media.html?src=https%3A%2F%2Fwww.slideshare.net%2Fslideshow%2Fembed_code%2Fkey%2Fc7OwSOLsjh5cX6\u0026amp;src_secure=1\u0026amp;url=https%3A%2F%2Fwww.slideshare.net%2FNFXvc%2Fthe-network-effects-bible-95560213\u0026amp;image=https%3A%2F%2Fcdn.slidesharecdn.com%2Fss_thumbnails%2Fthenfxbible-finalslideshare1-180501010522-thumbnail-4.jpg%3Fcb%3D1525136884\u0026amp;key=96f1f04c5f4143bcb0f2e68c87d65feb\u0026amp;type=text%2Fhtml\u0026amp;schema=slideshare\" frameborder=\"0\" scrolling=\"no\"\u003e\u003c/iframe\u003e\u003c/div\u003e\u003cfigcaption\u003e \u003c/figcaption\u003e\u003c/figure\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cdiv class=\"content-upgrade\" data-content=\"PHA+UGFydCAxIC0gV2h5IE5ldHdvcmsgRWZmZWN0cyBBcmUgSW1wb3J0YW50PGJyPgpQYXJ0IDIgLSBIb3cgTmV0d29ya3MgV29yazxicj4KUGFydCAzIC0gUHJvcGVydGllcyBvZiBOZXR3b3Jrczxicj4KUGFydCA0IC0gQnVpbGRpbmcgYW5kIE1haW50YWluaW5nIE5ldHdvcmsgRWZmZWN0czxicj4KUGFydCA1IC0gUmVsYXRlZCBDb25jZXB0czwvcD4=\" data-title=\"The Network Effects Bible\" data-form-title=\"Download the Network Effects Bible\" data-button-text=\"Get the E-Book\" data-hubspot-form-id=\"f94a6b4c-3e9d-4c3b-94c4-aaf03e34ad98\"\u003e\u003c/div\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch2\u003ePart I. Why Network Effects Are Important\u003c/h2\u003e\n\u003cp\u003eNetwork effects are mechanisms in a product and business where every new user makes the product/service/experience more valuable to every other user.\u003c/p\u003e\n\u003cp\u003eNetwork effects are important because they are the best form of defensibility, and thus value creation, in the digital world (the \u003ca href=\"https://www.nfx.com/post/defensibility-most-value-for-founders/\" data-rt-link-type=\"external\"\u003ethree other major defensibilities\u003c/a\u003e are brand, embedding, and scale).\u003c/p\u003e\n\u003cp\u003eAs mentioned above, network effects account for the majority of value created in the technology industry in the past few decades, since many winner-take-all-companies in tech were powered by network effects.\u003c/p\u003e\n\u003cp\u003eNot all network effects are the same, however, and understanding the nuances is essential for building network effects of your own into your products. Different types of nfx are stronger or weaker than others, and they each work differently. To date we’ve identified \u003ca href=\"https://www.nfx.com/post/network-effects-manual\" data-rt-link-type=\"external\"\u003e16 different kinds of network effects\u003c/a\u003e. They’re listed as follows in order of strength:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#physical-direct\" data-rt-link-type=\"external\"\u003ePhysical\u003c/a\u003e (e.g. landline telephones)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#protocol-direct\" data-rt-link-type=\"external\"\u003eProtocol\u003c/a\u003e (e.g. Ethernet)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#personal-utility-direct\" data-rt-link-type=\"external\"\u003ePersonal Utility\u003c/a\u003e (e.g. iMessage, WhatsApp)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#personal-direct\" data-rt-link-type=\"external\"\u003ePersonal\u003c/a\u003e (e.g. Facebook)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#market-networks-direct\" data-rt-link-type=\"external\"\u003eMarket Network\u003c/a\u003e (e.g. HoneyBook, AngelList)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#marketplace-2-sided\" data-rt-link-type=\"external\"\u003eMarketplace\u003c/a\u003e (e.g. eBay, Craigslist)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#platform-2-sided\" data-rt-link-type=\"external\"\u003ePlatform\u003c/a\u003e (e.g. Windows, iOS, Android)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#asymptotic-marketplace-2-sided\" data-rt-link-type=\"external\"\u003eAsymptotic Marketplace\u003c/a\u003e (e.g. Uber, Lyft)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#data-network-effects\" data-rt-link-type=\"external\"\u003eData\u003c/a\u003e (e.g. Waze, Yelp!)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#tech-performance-network-effects\" data-rt-link-type=\"external\"\u003eTech Performance\u003c/a\u003e (e.g. Bittorrent,Skype)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#language-social\" data-rt-link-type=\"external\"\u003eLanguage\u003c/a\u003e (e.g. Google, Xerox)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#belief-social\" data-rt-link-type=\"external\"\u003eBelief\u003c/a\u003e (currencies, religions)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#bandwagon-social\" data-rt-link-type=\"external\"\u003eBandwagon\u003c/a\u003e (e.g. Slack, Apple)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#Expertise\"\u003eExpertise \u003c/a\u003e(Figma, Microsoft Excel)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#Tribal%C2%A0(Social)\"\u003eTribal\u003c/a\u003e (Apple, Harvard, NY Yankees\u0026#8230;)\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual#Hub-and-Spoke\"\u003eHub-and-Spoke \u003c/a\u003e (TikTok, Medium, Craigslist)\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003e\u003cimg loading=\"lazy\" class=\"alignnone wp-image-16785 size-full\" src=\"https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-scaled.jpg\" alt=\"Network Effects Map 2022\" width=\"2560\" height=\"1770\" srcset=\"https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-scaled.jpg 2560w, https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-300x207.jpg 300w, https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-1024x708.jpg 1024w, https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-768x531.jpg 768w, https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-1536x1062.jpg 1536w, https://content.nfx.com/wp-content/uploads/2019/07/NFX-Map-2022-2048x1416.jpg 2048w\" sizes=\"(max-width: 767px) 89vw, (max-width: 1000px) 54vw, (max-width: 1071px) 543px, 580px\" /\u003e\u003c/p\u003e\n\u003cp\u003eThese network effects already touch, or will soon touch, every industry. Examples of how to apply the Network Effects Map can be found in this \u003ca href=\"https://www.nfx.com/post/the-network-effects-map-nfx-case-study-uber\" data-rt-link-type=\"external\"\u003eUber case study\u003c/a\u003e and in this \u003ca href=\"https://www.nfx.com/post/network-effects-facebook\" data-rt-link-type=\"external\"\u003eFacebook case study\u003c/a\u003e.\u003c/p\u003e\n\u003ch2\u003ePart II \u0026#8211; How Networks Work\u003c/h2\u003e\n\u003cp\u003eBroadly speaking, networks are interconnected systems of people or things. Networks can be found in almost every complex system — anything from power grids and roads to social media and human brains. Networks of all types, however, share several common characteristics. Understanding the underlying components of networks is useful for Founders looking to build network effect businesses of their own.\u003c/p\u003e\n\u003ch2 id=\"nodes-and-links\"\u003eNodes and Links\u003c/h2\u003e\n\u003cp\u003eAt a very basic level, networks are made up of nodes and links.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Nodes.png\" alt=\"Nodes and Links\" /\u003e\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/People.png\" alt=\"Nodes and Links\" /\u003e\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Phone.png\" alt=\"Nodes and Links\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eNodes\u003c/strong\u003e are the network participants: consumers, devices, customers, buyers, sellers, brokers, etc. Different types of nodes can have very different roles within the same network.\u003c/p\u003e\n\u003cp\u003eNodes within the same network can differ in terms of their levels of impact, influence, power, and value. \u003cstrong\u003eCentral nodes \u003c/strong\u003eare the nodes in a network with a high number of links and are often more valuable. \u003cstrong\u003eMarginal nodes \u003c/strong\u003ehave relatively few links and typically have less value — although there can be exceptions if marginal nodes are connected to a few powerful nodes themselves. Accurately calculating the value of a node varies greatly from network to network.\u003c/p\u003e\n\u003cp\u003eFinally, \u003cstrong\u003enetwork size \u003c/strong\u003ecan be measured by the total number of nodes in a network. The size of a network alone doesn’t determine value, because the amount of activity in a network can vary.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eLinks\u003c/strong\u003e are the connections between nodes or groups of nodes in a network. Not all links between the nodes in a network are equal. Links can vary (see below) in terms of directionality.\u003c/p\u003e\n\u003cp\u003eLinks vary in terms of strength, which is a function of the durability, closeness, and activity between two nodes. For instance, your Facebook Messenger link to your best friend is a lot stronger than your link to someone who you haven’t talked to since high school, but they both count as links in the Facebook Messenger network.\u003c/p\u003e\n\u003ch2 id=\"network-density\"\u003eNetwork Density\u003c/h2\u003e\n\u003cp\u003eThe density of a network is determined by its ratio of links to nodes. The higher the ratio, the denser the network.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Network-Density.png\" alt=\"Network Density\" /\u003e\u003c/p\u003e\n\u003cp\u003eTypically, the higher the density of a network, the more powerful its network effects are. The interconnectivity of links serve to reinforce and strengthen the connections between other nodes. If you’re friends with someone, for instance, who is friends with all your other friends, the strength of your bond is likely to be stronger than it would be in isolation.\u003c/p\u003e\n\u003cp\u003eDensity is typically distributed unevenly within a network. Certain areas within a network can have much higher density than other areas of a network (which is what leads to \u003cem\u003eclustering\u003c/em\u003e, a phenomenon described in greater detail below).\u003c/p\u003e\n\u003cp\u003eIn building products, it’s advisable to pay attention to how nodes form connections with each other so you can design your product to promote higher network density. Look for the \u003cstrong\u003e“white-hot center”\u003c/strong\u003e of your network — the densest, highest activity part —and focus the product features and language on activating other users to behave more like that group. Their activity will attract other nodes who will be inspired by the activity of the “white-hot” group, and it will radiate outward from there much faster than you might think.\u003c/p\u003e\n\u003ch2\u003eDirectionality\u003c/h2\u003e\n\u003cp\u003eIn graph theory, which is an aspect of network science, a link between nodes can be either \u003cstrong\u003edirected\u003c/strong\u003e or \u003cstrong\u003eundirected\u003c/strong\u003e.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Directionality.png\" alt=\"Directionality\" /\u003e\u003c/p\u003e\n\u003cp\u003eWhether a graph is directed or undirected depends on the nature of the connections between the nodes of a network. If the connections are directed, it means that one node points to the other in an unreciprocated fashion.\u003c/p\u003e\n\u003cp\u003eOn a \u003ca href=\"https://www.nfx.com/post/network-effects-manual#personal-direct\" data-rt-link-type=\"external\"\u003ePersonal Network\u003c/a\u003e like Twitter, for example, well-known people like celebrities and politicians have huge followings which they don’t reciprocate. The flow of information is mostly one way — from the bigger, more central nodes to the smaller, more marginal nodes.\u003c/p\u003e\n\u003cp\u003eContrast that with a \u003ca href=\"https://www.nfx.com/post/network-effects-manual#personal-utility-direct\" data-rt-link-type=\"external\"\u003ePersonal Utility Network\u003c/a\u003e like Facebook Messenger or WhatsApp, where connections are \u003cem\u003enecessarily\u003c/em\u003e reciprocal. If you have a conversation with someone on Facebook Messenger, the flow of information and interaction is bidirectional. So Facebook Messenger and WhatsApp are examples of networks with \u003cem\u003eundirected \u003c/em\u003econnections.\u003c/p\u003e\n\u003cp\u003eThe \u003cstrong\u003edirection\u003c/strong\u003e of a link between nodes in a network is determined by which way, if any, the interaction between nodes in a network flows. That interaction can include the transfer of money, information, communication, and anything else that can pass between nodes as they interact.\u003c/p\u003e\n\u003cp\u003eA network that consists of directed links \u003cem\u003eonly \u003c/em\u003eis called a \u003cstrong\u003edigraph\u003c/strong\u003e, but true digraphs are rare. Usually, networks encompass a mixture of directed and undirected connections. Understanding the directionality of links in your network and mapping them visually leads to far better product design and prioritization of features.\u003c/p\u003e\n\u003ch2\u003eOne-to-One vs One-to-Many\u003c/h2\u003e\n\u003cp\u003eRelationships between nodes in a network can be one-to-one, or they can be one-to-many.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/One-to-One.png\" alt=\"One-to-One\" /\u003e\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/One-to-Many.png\" alt=\"One-to-Many\" /\u003e\u003c/p\u003e\n\u003cp\u003eThe key attribute of one-to-many connections is that they are \u003cem\u003edirected\u003c/em\u003e links, where the flow of the interaction is unidirectional. One-to-one relationships, on the other hand, are usually functionally reciprocal. Therefore, they’re \u003cem\u003eundirected\u003c/em\u003e. The interaction flows both ways.\u003c/p\u003e\n\u003cp\u003eIn the example of Twitter discussed earlier, or other asymmetric-follow personal networks like Instagram or YouTube, there are central nodes with many followers (inbound directed connections), and there are marginal nodes without many followers. The marginal nodes in these examples are primarily observers, whereas the central nodes are content producers.\u003c/p\u003e\n\u003cp\u003eCentral nodes with one-to-many relationships can broadcast to marginal nodes, whereas the interaction that flows back is usually small to non-existent (think of the relationship of a celebrity and their followers on Instagram or a TV network and their viewers).\u003c/p\u003e\n\u003cp\u003eCentral nodes also can exist in one-to-one connection networks like Facebook (although they eventually ended up adding a one-to-many “follow” feature themselves), where some users have many friends and others very few. But the potential for disparity isn’t as vast as it is with networks that allow for one-to-many networks.\u003c/p\u003e\n\u003ch2 id=\"clustering\"\u003eClustering\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Clustering.png\" alt=\"Clustering\" /\u003e\u003c/p\u003e\n\u003cp\u003eWithin real-world networks, nodes are unlikely to be dispersed evenly. They tend to cluster or form local groupings that are more tightly knit than the network at large. When two clusters are connected by a solitary link, but are otherwise unconnected and isolated from each other, that link is called a \u003cstrong\u003ebridge.\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eClustering can be witnessed in online personal utility networks like Slack or Facebook Messenger, where people form subgroupings that are more active than the broader network. You can probably see examples if you consider your own private use of those services. A similar clustering phenomenon also can be seen publicly on Twitter and YouTube among popular members of those networks.\u003c/p\u003e\n\u003cp\u003eThe networks with higher degrees of clustering, measured by a “clustering coefficient”, can have the very powerful network effects as described by Reed’s Law (more on this below), which posits exponential increases in value as a network grows. A network with a high clustering coefficient will increase exponentially in value while it grows, while a network with low clustering will increase in value at a slower rate. There are tactics for increasing the clustering coefficient in your network, although not all networks are equally susceptible to forming clusters.\u003c/p\u003e\n\u003ch2 id=\"critical-mass\"\u003eCritical Mass\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Critical-Mass.png\" alt=\"Critical Mass\" /\u003e\u003c/p\u003e\n\u003cp\u003eThe critical mass of a network refers to the point at which the value produced by the network exceeds the value of the product itself and of competing products. This can happen at different times depending on the type of a network.\u003c/p\u003e\n\u003cp\u003eFor example, physical direct networks such as telephones gain critical mass quite early on. As the chairman of AT\u0026amp;T \u003ca href=\"https://www.nfx.com/post/network-effects-manual#direct-network-effects\" data-rt-link-type=\"external\"\u003epointed out back in 1908\u003c/a\u003e, “a telephone — without a connection at the other end of the line — is not even a toy or a scientific instrument. It is one of the most useless things in the world.” Since one telephone without any connections is utterly worthless, a telephone network with even two users has sufficient value to exceed the inherent value of a single product on its own.\u003c/p\u003e\n\u003cp\u003eContrast that with a platform network like Windows or iOS. The value of the Windows operating system, even without any programs or applications, is quite high on its own. Only after the network of users and developers has grown quite large does the value of all the third-party programs, plus the value of the interoperability with other users, exceed the value (for users) of the Microsoft programs by themselves.\u003c/p\u003e\n\u003cp\u003eMost products with network effects must ultimately reach critical mass in order to fully take advantage of the defensibility provided by their network effects. Before the size of the network reaches critical mass, the product remains quite vulnerable and may not have much value to users. For such products, the challenge is often to build enough initial value to incentivize early adopters to start using the product even before the network effects value has kicked in.\u003c/p\u003e\n\u003ch2 id=\"the-network-laws\"\u003eThe Network “Laws”\u003c/h2\u003e\n\u003cp\u003eOver the years, various network pioneers have attempted to model how the growth of a network increases its value. In other words, they tried to describe the power of network effects. As time went on, each new law discovered that the value of networks and network growth had been significantly \u003cem\u003eunderestimated \u003c/em\u003ein the past.\u003c/p\u003e\n\u003cp\u003eThese laws are not true laws in the same way that the law of gravity is a scientifically proven law. They’re simply math concepts that describe the relationships between different types of networks and the value of those networks. They’ve been called laws because it sounds cool. Sometimes you can have aspects of all these “laws” applying to the same network simultaneously.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Network-Laws.png\" alt=\"The Network Laws\" /\u003e\u003c/p\u003e\n\u003ch3\u003eSarnoff’s Law\u003c/h3\u003e\n\u003cp\u003eDavid Sarnoff was a titan of broadcast era radio and TV, who led the Radio Corporation of America (which created NBC) from 1919 until 1970. It was one of the largest networks in the world during those years. Sarnoff observed that the value of his network seemed to increase in \u003cem\u003edirect proportion \u003c/em\u003eto the size of the network — proportional to \u003cem\u003eN, \u003c/em\u003ewhere \u003cem\u003eN \u003c/em\u003eis the total number of users on the network.\u003c/p\u003e\n\u003cp\u003eAs it turned out, Sarnoff’s description of network value ended up being an underestimate for some types of networks, although it was an accurate description of broadcast networks with a few central nodes broadcasting to many marginal nodes (a radio or television audience).\u003c/p\u003e\n\u003ch3 id=\"metcalfes-law\"\u003eMetcalfe’s Law\u003c/h3\u003e\n\u003cp\u003eMetcalfe’s Law states the value of a communications network grows in proportion to the square of the number of users on the network (\u003cem\u003eN\u003c/em\u003e^2 where \u003cem\u003eN \u003c/em\u003eis the total number of users on the network).\u003c/p\u003e\n\u003cp\u003eThe formulation of this concept, which dates to about 1980, is attributed to Robert Metcalfe, who was one of the inventors of the Ethernet standard.\u003c/p\u003e\n\u003cp\u003eMetcalfe’s Law seems to hold because the number of links \u003cem\u003ebetween \u003c/em\u003enodes on a network increase mathematically at a rate of \u003cem\u003eN^2\u003c/em\u003e, where \u003cem\u003eN \u003c/em\u003eis the number of nodes. Although originally formulated to describe communication networks like Ethernet, fax, or phone networks, with the arrival of the internet it has evolved to describe social networks and marketplaces as well.\u003c/p\u003e\n\u003ch3 id=\"reeds-law\"\u003eReed’s Law\u003c/h3\u003e\n\u003cp\u003eReed’s Law was published by David P. Reed of MIT in 1999. While Reed acknowledged that “many kinds of value grow proportionally to network size” and that some grow as a proportion to the square of network size, he suggested that “group-forming networks” that allow for the formation of \u003cem\u003eclusters \u003c/em\u003e(as described above) scale value even faster than other networks.\u003c/p\u003e\n\u003cp\u003eGroup-forming networks, according to Reed, increase in value a rate of 2^N, where \u003cem\u003eN \u003c/em\u003eis the total number of nodes on the network.\u003c/p\u003e\n\u003cp\u003eThe reason why Reed suggested a formula of 2^N instead of N^2 is because the number of possible groups within a network that “supports easy group communication” is much higher than 1, so that the total number of connections in the network (the network density) is not just a function of the total number of nodes (N^2). In reality it’s a function of the total number of nodes \u003cem\u003eplus \u003c/em\u003ethe total number of possible sub-groupings or clusters, which scales at a much faster rate with the addition of more users to the network.\u003c/p\u003e\n\u003cp\u003eSince most online networks allow for the formation of clusters, they will likely behave at least somewhat as Reed’s Law suggests and grow in value at a much faster rate than either Metcalfe’s Law or Sarnoff’s Law suggest.\u003c/p\u003e\n\u003c/div\u003e\n\u003ch2\u003ePart III \u0026#8211; Network Properties\u003c/h2\u003e\n\u003ch2\u003eIrregularity\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Irregular.png\" alt=\"Irregularity\" /\u003e\u003c/p\u003e\n\u003cp\u003eNetworks are not usually uniform in real life. They just look that way in diagrams. They have clusters, hot spots, and dead spots. These mirror the irregularities of complex systems in the real world. Examples include geography (e.g. urbanites behave very differently than rural people), real-world relationship differences (manager-employee relationships are different from peer-level coworker relationships), size (a company with two people will make decisions differently than one with 30 people or 500 people), and many others.\u003c/p\u003e\n\u003cp\u003eYou need to recognize these irregularities, find the “white-hot center” within the network, and focus on it initially to build up a network effect before you expand your focus to the broader network.\u003c/p\u003e\n\u003ch2 id=\"real-identity-pseudonymity-anonymity\"\u003eReal Identity vs Pseudonymity vs Anonymity\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Identity.png\" alt=\"Real Identity vs Pseudonymity vs Anonymity\" /\u003e\u003c/p\u003e\n\u003cp\u003eMany network effect businesses require users to create a profile that’s visible to other nodes in the network. Networks with profiles tied to a node’s real identity, like your real personal name or real company name, are typically more effective at building network effects than networks with pseudonymous profiles (e.g. user-generated handles like “Tiger123”).\u003c/p\u003e\n\u003cp\u003eIt’s not a coincidence that the three largest and most successful social networks in the Western World — LinkedIn, Facebook, and Twitter — are also the first that successfully offered real identity profiles at scale (although Twitter does allow the use of pseudonymous handles, the identities people use are usually tied to their real-world identity, e.g. “@realDonaldTrump”). All the hundreds of social networks that launched before real names became acceptable eventually died.\u003c/p\u003e\n\u003cp\u003eReal Identity is also critical in two-sided marketplace and platform network effect businesses where trust and reputation facilitate the liquidity of transactions.\u003c/p\u003e\n\u003cp\u003eOne caveat: there are some applications, in crypto or government spy work, where anonymity is a necessary feature of the network. Typically, however, such networks collapse in short order for three reasons: a) when the anonymity of the network breached and trust in the system ends, b) when what is being transferred between nodes becomes too low quality as anonymous free riders drag the network down, and 3) as the anonymous network becomes unacceptable to the rest of the world and authorities of various kinds (such as governments) step in.\u003c/p\u003e\n\u003cp\u003eAnd let’s be clear, with Telegram, for instance, while users’ messages are encrypted, they use it because it allows them to connect to real identities, not anonymous people. \u003cem\u003ePrivacy is different from anonymity.\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003eFor more on this subject, see our essay “\u003ca href=\"https://www.nfx.com/post/real-identity\" data-rt-link-type=\"external\"\u003eDoes Real Identity Matter for Networks?\u003c/a\u003e”\u003c/p\u003e\n\u003ch2 id=\"asymmetry\"\u003eAsymmetry\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Asymmetric.png\" alt=\"Asymmetry\" /\u003e\u003c/p\u003e\n\u003cp\u003eThis term relates mostly to marketplaces, whether that marketplace is 1, 2, 3, or N-sided. In nearly every marketplace, one side, or one type of node, is harder to acquire than the other.\u003c/p\u003e\n\u003cp\u003eIn some cases, the harder side of the marketplace is the demand side — the buyers. Usually in this scenario, if you can manage to attract people who are willing to pay (buyers), suppliers (sellers) will show up quickly and without as much effort. We call this a “demand-side marketplace”.\u003c/p\u003e\n\u003cp\u003eFiverr and UpWork are examples who focus on finding \u003cem\u003edemand\u003c/em\u003e and rely on supply to show up organically. Lending Club is another example. They focus their efforts on finding demand (borrowers) for the money, and the lenders show up on their own to provide the money for those borrowers.\u003c/p\u003e\n\u003cp\u003eIn some cases, the harder side is the supply, and demand-side users are attracted to the marketplace organically once the supply side is robust. We call this a “supply-side marketplace.” For instance, Uber and Lyft spend the majority of their paid acquisition budget on driver acquisition — the \u003cem\u003esupply\u003c/em\u003e \u003cem\u003eside\u003c/em\u003e. Similarly, OpenTable had to slowly acquire restaurants, the supply side, one by one, until it had built up enough supply after seven years to attract demand (people looking to make restaurant reservations).\u003c/p\u003e\n\u003cp\u003eOf course, in some markets, if you are unlucky or unwise in your target sector, you will find that both sides are equally hard to attract. That makes things very hard.\u003c/p\u003e\n\u003cp\u003eAnother asymmetry in marketplaces relates to the asymmetry \u003cem\u003ewithin\u003c/em\u003e a side or within a type of node. In other words, not all supply or demand is made equal. Typically, there are certain nodes who will prove more valuable to get on your network, sometimes proving up to 1,000X more valuable than other nodes.\u003c/p\u003e\n\u003cp\u003eLook for these various asymmetries in a marketplace and prioritize which types of demand or supply will be the best to attract first, second, and third. Then focus on developing tactics to crack the highest-value target first.\u003c/p\u003e\n\u003ch2 id=\"homogeneous-vs-heterogeneous\"\u003eHomogeneous vs. Heterogeneous Networks\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Heterogeneous.png\" alt=\"Homogeneous vs. Heterogeneous Networks\" /\u003e\u003c/p\u003e\n\u003cp\u003eHomogeneous networks are networks where all the nodes have the same function in the network. One user is interchangeable with the next in the basic function they perform. In a landline telephone network, for example, each node (telephone) performs basically the same function as any other, and people tend to get telephones for the same reasons. Telecommunications networks, in general, are often homogeneous.\u003c/p\u003e\n\u003cp\u003eHeterogeneous networks are networks where there are two or more classes of nodes categorized by both function and utility. On the Honeybook market network, event planners behave differently than photographers, who behave differently from florists. Buyer nodes on eBay are on the network for fundamentally different reason from seller nodes.\u003c/p\u003e\n\u003ch2 id=\"asymptotic-network-effects\"\u003eAsymptotic Network Effects\u003c/h2\u003e\n\u003cp\u003eAsymptotic network effects are network effects with diminishing returns.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Asymptoting.png\" alt=\"Asymptotic Network Effects\" /\u003e\u003c/p\u003e\n\u003cp\u003eRecall the basic definition of network effects: as usage of a product grows, its value to each user also grows. In some cases, however, network effects can start to weaken after certain point in the growth of the network. Growth in an asymptotic network, after a certain size, no longer benefits the existing users.\u003c/p\u003e\n\u003cp\u003eUber is one example of this, since after about a 4-minute wait time, Uber passengers no longer benefit much from an increase in the number of drivers. The value of more supply “asymptotes” as the growth in value approaches zero for the demand side.\u003c/p\u003e\n\u003cp\u003eMany data network effects, for example, are asymptotic. After the dataset reaches a certain size, the algorithm no longer meaningfully improves as the dataset grows. Most data network effects suffer from this property. Businesses like Waze do the best job of avoiding this, because that service requires real-time data that must be continually updated by thousands or even tens of thousands of nodes to be minimally useful.\u003c/p\u003e\n\u003ch2 id=\"same-side-network-effects\"\u003eSame-Side Network Effects\u003c/h2\u003e\n\u003cp\u003eSame-side network effects are \u003cem\u003edirect\u003c/em\u003e network effects that occur on the same side of a multi-sided (2-sided or N-sided network). Same-side network effects refer to the change in value that occurs for users on the same side with the addition of users on that side.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/SameSide.png\" alt=\"Same-Side Network Effects\" /\u003e\u003c/p\u003e\n\u003cp\u003eFor example, Uber actually has \u003cem\u003enegative \u003c/em\u003esame-side network effects or a congestion effect. That’s because at any given time, a greater number of riders means a higher price point or a higher wait time per ride. The same is true for drivers — more Uber drivers mean more competition for other drivers.\u003c/p\u003e\n\u003cp\u003eSame-side network effects can also be positive, however. This is the case for Windows users, who benefit from the addition of new Windows users because of file compatibility. Two Windows users can easily share files amongst themselves, and the number of people you can share files with grows with the number of people using the same platform.\u003c/p\u003e\n\u003ch2 id=\"cross-side-network-effects\"\u003eCross-Side Network Effects\u003c/h2\u003e\n\u003cp\u003eCross-side network effects are \u003cem\u003edirect \u003c/em\u003enetwork effects that arise from complementary goods or services in a network with more than one side. As opposed to indirect network effects, cross-side network effects refers specifically to the direct increase in value to users on one side of a network by the addition of users to another side.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Cross-side.png\" alt=\"Cross-Side Network Effects\" /\u003e\u003c/p\u003e\n\u003cp\u003eSo to take the example of Uber yet again: there are large positive cross-side network effects because each additional driver adds direct value to all the users on the passenger side (\u003ca href=\"https://www.nfx.com/post/the-network-effects-map-nfx-case-study-uber\" data-rt-link-type=\"external\"\u003eup to a point\u003c/a\u003e) and vice versa.\u003c/p\u003e\n\u003ch2 id=\"indirect-network-effects\"\u003eIndirect Network Effects\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Indirect.png\" alt=\"Indirect Network Effects\" /\u003e\u003c/p\u003e\n\u003cp\u003eIndirect network effects occur when the value of a network increases as a result of one type of node benefitting another type of node directly, but not directly benefiting the other nodes of its same type. Same-side nodes \u003cem\u003eindirectly \u003c/em\u003ebenefit each other because they create an increased incentive for complementary users on the other side of the network to use the network, which in turn benefits all the nodes on the same side.\u003c/p\u003e\n\u003cp\u003eFor example, in a 2-Sided Marketplace like eBay, the addition of a new seller does not directly benefit other sellers. In fact, another seller just means more competition for all the other eBay sellers. However, because an expanded inventory of goods makes the marketplace as a whole more attractive to buyers, additional sellers end up indirectly benefiting other sellers because of the total increase in potential customers. There’s a powerful \u003cem\u003eindirect \u003c/em\u003egrowth in the value of the network for sellers with every new seller.\u003c/p\u003e\n\u003cp\u003eOS platforms like Microsoft Windows are another good example of indirect network effects at work. New Windows developers don’t directly benefit other developers. However, with an increased library of Windows programs, the number of Windows users will grow. And a greater number of windows users are beneficial for all developers because it increases the pool of potential customers for their programs.\u003c/p\u003e\n\u003cp\u003eThis \u003ca href=\"http://www.stern.nyu.edu/networks/jie92abs.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e1992 NYU paper\u003c/a\u003e by Economides and Salop is one of the earliest studies of indirect network effects, which it says is a function of the value of “compatible complementary goods”.\u003c/p\u003e\n\u003ch2 id=\"negative-network-effects\"\u003eNegative Network Effects\u003c/h2\u003e\n\u003cp\u003eIn some situations, more network usage or greater network size can actually decrease the value of the network, leading to \u003cstrong\u003enegative network effects\u003c/strong\u003e.\u003c/p\u003e\n\u003cp\u003eNegative network effects can happen in two ways: \u003cstrong\u003enetwork congestion\u003c/strong\u003e (increased usage) and \u003cstrong\u003enetwork pollution\u003c/strong\u003e (increased size).\u003c/p\u003e\n\u003cp\u003eThe most familiar example of network congestion is road traffic. During rush hour, every additional car on the road makes the network of roads in a city more clogged up (i.e. less valuable) for other drivers. Similar congestion can take place in telecommunications networks, although it is rarer for online networks.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Traffic.png\" alt=\"Network congestion\" /\u003e\u003c/p\u003e\n\u003cp\u003eNetwork pollution, however, is more common for online networks. The wider your social graph grows on Facebook, for example, the more polluted your Facebook News Feed becomes with irrelevant or undesired content from acquaintances you barely know or professional contacts/family members.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Grandma.png\" alt=\"Network pollution\" /\u003e\u003c/p\u003e\n\u003cp\u003eIt’s possible for networks to have negative and positive network effects at the same time. Twitter and Facebook are two of the best examples, as both Twitter and Facebook feeds show you many people in your network, but if it’s too many, the feed can get polluted.\u003c/p\u003e\n\u003cp\u003eIt’s important for Founders to be aware of this so they can build product features to mitigate negative network effects as much as possible while fostering positive network effects.\u003c/p\u003e\n\u003ch2\u003ePart IV \u0026#8211; Building and Maintaining Network Effects\u003c/h2\u003e\n\u003ch2 id=\"multiplayer-vs-single-player-mode\"\u003eMultiplayer vs. Single-Player Mode\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/singleplayervsmultiplayer.png\" alt=\"Multiplayer vs. Single-Player Mode\" /\u003e\u003c/p\u003e\n\u003cp\u003eThese are terms typically used in the gaming industry. We use them to discuss network effects businesses because they highlight an important distinction.\u003c/p\u003e\n\u003cp\u003eA single-player product helps the user alone, and can be used without other users there. The user gets value from a product/service in isolation. For instance, buying something off Amazon. Or filing your taxes on TurboTax. Or implementing Stripe on my ecommerce site. It works for me right away, but I get no value from the fact others are also implementing Stripe on their sites.\u003c/p\u003e\n\u003cp\u003eUsers pay for a single-player product based the value it provides them directly, which tends to be linear. All the burden is on you to make your product increasingly more valuable to your customers. This is true of most SaaS companies like WorkDay or Oracle.\u003c/p\u003e\n\u003cp\u003e“Multiplayer” products, by contrast, let their users feel the presence and impact of the other users of the product, but have a hard time being useful without those other users. Multiplayer products let users add value to each other through their actions, even if it’s just viewing something, like on YouTube. Vimeo, without comments and without video view count, is a single player experience. YouTube, with view count and comments, is a multiplayer experience.\u003c/p\u003e\n\u003cp\u003eIt is possible for products to have single-player value \u003cem\u003eand \u003c/em\u003emultiplayer value. For instance, HoneyBook has a tool that lets event planners make more beautiful proposals for their clients. Over time, as more photographers, caterers, and florists join the HoneyBook network, the event planner benefits from the professional network and N-sided payments network that begin to accrue.\u003c/p\u003e\n\u003cp\u003eIt is also very possible for companies to add multiplayer mode to a single-player product, or even to switch their products from single-player to multiplayer. We help companies do that frequently. For instance, Amazon added multiplayer experiences with reviews, allowing past purchasers to benefit future purchasers. They also added a marketplace where hundreds of thousands of sellers joined and began adding value to buyers. For the first time in their history, Amazon’s Marketplace accounts for over 50% of the total units sold according to the \u003ca href=\"http://phx.corporate-ir.net/phoenix.zhtml?c=97664\u0026amp;p=irol-proxy\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e2017 annual report\u003c/a\u003e. This is a huge shift.\u003c/p\u003e\n\u003cp\u003eWe don’t suggest building single-player-only businesses. They tend to grow linearly and get dragged down by competition.\u003c/p\u003e\n\u003ch2 id=\"switching-costs\"\u003eSwitching Costs\u003c/h2\u003e\n\u003cp\u003eSwitching costs refer to the costs in time, effort, or money that arise when you switch from using one product to another incompatible product. When switching costs are high, it tends to create customer \u003cstrong\u003elock-in\u003c/strong\u003e because the customer has more of an incentive to stick with the same supplier throughout their life cycle.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Switching-Costs.png\" alt=\"Switching Costs\" /\u003e\u003c/p\u003e\n\u003cp\u003eSwitching costs are related to the defensibility of a business, and also have a lot to do with product compatibility. Companies with high defensibility can usually afford to make their products incompatible with competitors, introducing steep switching costs.\u003c/p\u003e\n\u003cp\u003eThink of Apple. Buying an Apple product such as a MacBook introduces a whole host of switching costs for incompatible products. If you buy a MacBook, it’s costly to own an Android from an effort perspective because you can’t sync your phone to your computer as easily, you have to use a different calendar application, etc. And when you buy a song or a movie or a book on iTunes, there are high switching costs to then using Spotify or Hulu or Kindle because the libraries are not compatible and your media will be scattered across incompatible services.\u003c/p\u003e\n\u003cp\u003eAll of this creates a lock-in effect for Apple customers, who have to buy everything from Airpods to Apple TVs in order to keep their electronic devices inter-compatible.\u003c/p\u003e\n\u003cp\u003eNetwork effects heighten switching costs like these even further. Not only is it costly from a compatibility perspective to switch products, but when the product has network effects, switching costs are heightened on a group as well as an individual level. For example, on a 2-Sided Marketplace like Craigslist, there are high switching costs for apartment renters as a group, because unless apartment seekers all move to a new marketplace at the same time as the renters, it’ll be too prohibitively costly for the renters to leave. Therefore the two sides of the marketplace lock each other into place.\u003c/p\u003e\n\u003ch2 id=\"chicken-or-egg-problem-cold-start-problem\"\u003eChicken or Egg Problem (Cold Start Problem)\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Chicken-Egg.png\" alt=\"Chicken or Egg Problem (Cold Start Problem)\" /\u003e\u003c/p\u003e\n\u003cp\u003eThe “chicken or egg” problem refers to the problem of getting enough critical mass to trigger a positive feedback loop. If the people on a network produce the majority of value for other users, how do you get the first users to join?\u003c/p\u003e\n\u003cp\u003eThis is an especially big problem with \u003ca href=\"https://www.nfx.com/post/network-effects-manual#marketplace-2-sided\" data-rt-link-type=\"external\"\u003e2-Sided Marketplaces\u003c/a\u003e (and to a lesser extent with \u003ca href=\"https://www.nfx.com/post/network-effects-manual#platform-2-sided\" data-rt-link-type=\"external\"\u003e2-Sided Platforms\u003c/a\u003e) because there are two types of users — buyers and sellers (or developers and users) — and one needs to be in place before the other one will have an incentive to join. Kickstarting 2-sided networks requires giving some sort of initial value to the users on one side or another, which is independent of the complementary value that results from the other side of the network being there.\u003c/p\u003e\n\u003cp\u003eThere are at least \u003ca href=\"https://www.nfx.com/post/19-marketplace-tactics-for-overcoming-the-chicken-or-egg-problem/\" target=\"_blank\" rel=\"noopener noreferrer\"\u003e19 specific tactics we know of that can help solve this problem\u003c/a\u003e. Several of them involve creating a single-player mode product that provides value to one side of the marketplace even without a network in place. Others involve attracting one side of the marketplace with compensation, such as cash or leads.\u003c/p\u003e\n\u003ch2 id=\"multi-tenanting\"\u003eMulti-Tenanting\u003c/h2\u003e\n\u003cp\u003eMulti-tenanting occurs when there are low costs or no costs to simultaneously participating in competing networks at the same time.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Multitenanting.png\" alt=\"Multi-Tenanting\" /\u003e\u003c/p\u003e\n\u003cp\u003eThis is fairly rampant with social networks. People often syndicate photos or snaps that they share to multiple platforms at the same time (Facebook, Instagram, and Snapchat). It’s also frequent with marketplaces; many people on both sides of the marketplace often use both Uber and Lyft, both eBay and Craigslist, both Etsy and Amazon Marketplace.\u003c/p\u003e\n\u003cp\u003eMulti-tenanting can harm the defensibility of a network and mitigate network effects, but only up to a point. Ultimately, the bigger network will win out because it will have a higher profile for potential new customers and will be more likely to retain existing customers, even if those customers occasionally multi-tenant. Because the network is bigger, the number of options will be greater and people will only turn to competing networks in moments of dissatisfaction or as a supplement for the value provided by the larger network.\u003c/p\u003e\n\u003cp\u003eFor example, people who use Snap stories may use Instagram stories to reach a different audience. Usage of one service may serve to reinforce and increase usage of the other service as people become more habituated to using both and see greater value from the broad category of “stories” shared on both.\u003c/p\u003e\n\u003cp\u003eCustomers of eBay or Amazon might look to Etsy specifically for vintage products, and although this is a case of multi-tenanting, usage of one reinforces the other because the greater the variety of goods consumers buy online, the more likely they are to shop online.\u003c/p\u003e\n\u003ch2 id=\"disintermediation\"\u003eDisintermediation\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Disintermediation.png\" alt=\"Disintermediation\" /\u003e\u003c/p\u003e\n\u003cp\u003eDisintermediation is a vulnerability that mostly applies to Marketplaces and Market Networks. It happens when, after initially connecting through a marketplace or market network product, users take future transactions off the product and transact directly. This is a significant problem because retention leading to repeat purchase is the name of the game in most transactional networks.\u003c/p\u003e\n\u003cp\u003eTo help prevent disintermediation, you can provide tools, reputation, insurance, compliance, leads and other incentives. There is an extensive playbook about the many things you can try if your marketplace is challenged with this problem. Some never overcome it.\u003c/p\u003e\n\u003ch2\u003eRetention\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Retention.png\" alt=\"Retention\" /\u003e\u003c/p\u003e\n\u003cp\u003eRetention is about how often your users return to use your product, and this can make a big difference in network effects. If you have low retention, then it will be very difficult to capture any sort of network effects even as your userbase grows, because the overall usage of your product won’t increase and you’ll lose your defensive position.\u003c/p\u003e\n\u003cp\u003eIn the early days, Facebook had sky-high retention rates. People who signed up kept on using it, so there was mounting value from the network because if you joined later than your friends, chances are high that they’d still be using it and you’d get value from joining. If retention was low, then if you joined too late you’d have missed the trend and you’d be much less likely to stick around yourself.\u003c/p\u003e\n\u003cp\u003eNetworks without effective retention have weak network effects, and weak network effects lead to low retention. Remember that network effects don’t come from the size of the network, but from overall usage.That’s why growing a network’s size isn’t enough, it’s also important to focus on increasing usage.\u003c/p\u003e\n\u003ch2 id=\"part-v-related-concepts\"\u003ePart V \u0026#8211; Related Concepts\u003c/h2\u003e\n\u003ch2\u003eGeometric (Exponential/Non-Linear) Growth vs. Linear Growth\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/GeometricLinearGrowth.png\" alt=\"Geometric (Exponential/Non-Linear) Growth vs. Linear Growth\" /\u003e\u003c/p\u003e\n\u003cp\u003eBusinesses with neither viral effects nor network effects tend to produce linear, straight-line growth. Linear growth can produce a business, but not the kind of high impact, exciting growth we’re all looking for. We all want the green-line growth curve.\u003c/p\u003e\n\u003cp\u003eFounders should push themselves and their teams to reach geometric growth, and be able to measure and know the difference when you’ve crossed from linear to geometric growth. Network effect businesses, once they hit the tipping point, typically show this type of geometric growth, either because a) they are viral, or b) their metrics are so good, they can afford to buy the traffic vs other competitors.\u003c/p\u003e\n\u003ch2\u003eViral Effects \u0026amp; Virality\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Viral-Effects.png\" alt=\"Viral Effects \u0026amp; Virality\" /\u003e\u003c/p\u003e\n\u003cp\u003eViral effects are different than network effects, but many people confuse the two.\u003c/p\u003e\n\u003cp\u003eNetwork effects add value to a product when more people use it. The more people use a product with network effects, the more utility each existing user gains from it, so the less likely they are to switch to a competitor. Network effects are about retention and defensibility.\u003c/p\u003e\n\u003cp\u003eViral effects are about getting new users to use your product. A product is said to be viral when existing users bring you more users for free. A product or service with viral effects has a “viral coefficient”, which is the number of new users that join as a result of each user. For example, if an average Facebook user in the early days invited enough friends to get two of their friends to join in a certain amount of time, we would say that, at that time, Facebook had a viral coefficient of 2. This would mean exponential growth in the new users joining per day for free.\u003c/p\u003e\n\u003cp\u003eThe confusion between viral effects and network effects stems from the fact that 1) they are both positive feedback loops, and 2) they were experienced together in famous companies like Facebook, Twitter, and WhatsApp over the last 15 years.\u003c/p\u003e\n\u003cp\u003eHowever, since we ourselves have created viral effects in over ten companies that went viral enough to attract over 10 million users, we can attest that it is easier to craft viral effects on products than it is to build products with network effects. What’s more, products with networks built in naturally allow for more language to build viral hooks and loops — a subject we’ll expand on elsewhere.\u003c/p\u003e\n\u003cp\u003eMany products can have viral effects without having network effects. Just because a product is viral doesn’t mean that every new user makes the product more valuable and defensible. Viral effects helped propel Facebook to its current position because Facebook \u003cem\u003ealso\u003c/em\u003e has a network effect. However, going viral didn’t make \u003ca href=\"https://www.jibjab.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eJibJab\u003c/a\u003e, Buzzfeed, or the Sequoia-backed \u003ca href=\"http://www.businessinsider.com/quizup-relaunch-into-social-network-2015-5\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eQuizUp\u003c/a\u003e (which raised $27M and died) nearly as defensible or valuable. Their success was flashy but short-lived.\u003c/p\u003e\n\u003cp\u003eThe reverse is also true. Products with network effects don’t necessarily have viral effects. A \u003ca href=\"https://www.nfx.com/post/24-ways-b2b-marketplace\" target=\"_blank\" rel=\"noopener\"\u003eB2B marketplace\u003c/a\u003e could easily use paid advertising to attract buyers and sellers and build a 2-sided marketplace network effect with zero virality. A company could deploy thousands of IoT devices across a city creating a mesh network\u003c/p\u003e\n\u003cp\u003eFor example, you could buy ads on Google to drive both sellers and buyers into a B2B marketplace and build a 2-sided marketplace network effect and still have zero virality. Or, you could pay a city to deploy a thousand IoT devices across a city that creates a mesh network whose performance \u0026#8212; due to the network density \u0026#8212; is so much better than any others that no competitor could hope to compete until they also deploy a thousand nodes to their own mesh network.\u003c/p\u003e\n\u003cp\u003eUnderstanding the difference in network effects and viral effects is important for getting your playbooks right, especially considering how often people mix them up. Make sure that isn’t you. \u003cem\u003eJust because you have viral effects doesn’t mean you have nfx, and vice versa\u003c/em\u003e.\u003c/p\u003e\n\u003ch2\u003e“Platform Business Model” (Less helpful term)\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Platform-2.png\" alt=\"Platform Business Model (Less helpful term)\" /\u003e\u003c/p\u003e\n\u003cp\u003eThis is a recent term that is used to talk broadly about many types of companies with network effects that scale by cultivating external networks and facilitating the means of connection, not the means of production. Those are important ideas. However, we feel the term conflates too many concepts to be very useful when trying to tease out the important elements of what make these businesses really work. We prefer to break out the 13 different network effects and the many attributes of networks. We also reserve the term “platform” for network effect businesses like MS OS, iOS, or the FB Platform product where other Incorporated entities are building their businesses on them.\u003c/p\u003e\n\u003ch2\u003eReinforcement\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Castle.png\" alt=\"Reinforcement\" /\u003e\u003c/p\u003e\n\u003cp\u003eThe important thing to know about network effects is that once you have one going, it’s much easier to build all the other defensibilities on top of it, including other network effects. This “reinforcement effect” is often underappreciated by Founders, especially when they’re preoccupied by growth. Continually looking for and launching new defensibilities is important because they reinforce each other: the more you have going the better they each work up (although this is only up until a certain point, because trying to do too much at once can detract from operational focus).\u003c/p\u003e\n\u003ch2 id=\"scale-effects\"\u003eScale Effects\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Scale-Effect.png\" alt=\"Scale Effects\" /\u003e\u003c/p\u003e\n\u003cp\u003eScale, like network effects, is an important defensibility in the digital era. Scale effects are often confused with network effects because both scale effects and network effects become stronger with more users.\u003c/p\u003e\n\u003cp\u003eHowever, they work very differently. The best way to understand scale is that as well-run companies get bigger, their \u003cem\u003eper unit\u003c/em\u003e production costs get cheaper. As a scale effect starts to kick in, the company with a scale advantage becomes the obvious mathematical choice for customers.\u003c/p\u003e\n\u003cp\u003eIn other words, more users means greater volume, which means cheaper prices from suppliers, which means lower prices for customers, which means higher conversion rates for ads, which makes advertising more effective than the competition, and so on and so forth.\u003c/p\u003e\n\u003cp\u003eWith scale, the numbers all begin to move in your favor and math is hard to compete with. This concept is known in the academic literature as “economies of scale.” In short, \u003cem\u003eper unit\u003c/em\u003e production costs get cheaper. Amazon is the tech world’s leading scale effects company (and now they are adding network effects… watch out).\u003c/p\u003e\n\u003ch2 id=\"brand\"\u003eBrand\u003c/h2\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Brand.png\" alt=\"Brand\" /\u003e\u003c/p\u003e\n\u003cp\u003eBrand is a powerful defensibility, but it’s fundamentally different from network effects. Like with scale, your brand defensibility is correlated with the growth and usage of your product, and so it’s easy to confuse brand with network effects. However, they work very differently.\u003c/p\u003e\n\u003cp\u003eBrand arises when people know who you are and what you do. A well-established brand identity comes with \u003cem\u003epsychological\u003c/em\u003e switching costs. People are less likely to switch to an unknown or lesser-known brand from yours because psychologically they will default toward what’s familiar.\u003c/p\u003e\n\u003cp\u003ePeople tend to be risk averse and avoid the unknown. When you have brand recognition, people are familiar with what you are and what you do. That gives you a competitive edge. Brand defensibility is so critical in today’s attention economy that, paradoxically, even negative brand awareness can help make your business more defensible (within certain limits).\u003c/p\u003e\n\u003ch2 id=\"embedding\"\u003eEmbedding\u003c/h2\u003e\n\u003cp\u003eEmbedding is accomplished by integrating your product directly into customer operations so the customer can’t rip you out and replace you with a competitor without incurring significant cost in time, energy, or both. In other words, embedding \u003cem\u003edirectly heightens switching costs\u003c/em\u003e as part of the process of user adoption.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/oracle.png\" alt=\"oracle\" /\u003e\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/workday.png\" alt=\"workday\" /\u003e\u003c/p\u003e\n\u003cp\u003eEmbedding can work with network effects to make your business more defensible, but they are separate concepts.\u003c/p\u003e\n\u003cp\u003eExamples of embedding include Workday, Oracle, or SAP — and as these examples show, embedding is more prevalent when customers are organizations, not individuals (it’s difficult to embed in personal life “operations”). That being said, embedding does exist for B2C products — think of Google drive or iCal.\u003c/p\u003e\n","protected":false},"excerpt":{"rendered":"\u003cp\u003eNetwork effects have been responsible for 70% of all the value created in technology since 1994. Founders who deeply understand how they work will be better positioned to build category-defining co","protected":false},"author":1,"featured_media":18673,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,97,91],"tags":[8],"acf":{"short_description":"Network effects have been responsible for 70% of all the value created in technology since 1994. Founders who deeply understand how they work will be better positioned to build category-defining companies.\r\n\u003cem\u003e\u003ca href=\"https://content.nfx.com/teams/james-currier/\"\u003eJames Currier\u003c/a\u003e and the NFX Team\u003c/em\u003e","select_post_user":[10109],"related_posts":[80,86,72],"similar_essay":96,"duration":"34 min","homapage_image":18682},"yoast_head":"\u003c!-- This site is optimized with the Yoast SEO plugin v18.3 - https://yoast.com/wordpress/plugins/seo/ --\u003e\n\u003ctitle\u003eThe Network Effects Bible\u003c/title\u003e\n\u003cmeta name=\"description\" content=\"Network effects have been responsible for 70% of all the value created in technology since 1994. 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https://yoast.com/wordpress/plugins/seo/ --\u003e\n\u003ctitle\u003eNFX - Network Effects\u003c/title\u003e\n\u003cmeta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" /\u003e\n\u003clink rel=\"canonical\" href=\"https://content.nfx.com/tags/network-effects\" /\u003e\n\u003cmeta property=\"og:locale\" content=\"en_US\" /\u003e\n\u003cmeta property=\"og:type\" content=\"article\" /\u003e\n\u003cmeta property=\"og:title\" content=\"NFX - Network Effects\" /\u003e\n\u003cmeta property=\"og:url\" content=\"https://content.nfx.com/tags/network-effects\" /\u003e\n\u003cmeta property=\"og:site_name\" content=\"NFX\" /\u003e\n\u003cmeta name=\"twitter:card\" content=\"summary_large_image\" /\u003e\n\u003cmeta name=\"twitter:site\" content=\"@NFX\" /\u003e\n\u003cscript type=\"application/ld+json\" class=\"yoast-schema-graph\"\u003e{\"@context\":\"https://schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https://content.nfx.com/#website\",\"url\":\"https://content.nfx.com/\",\"name\":\"NFX\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://content.nfx.com/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"CollectionPage\",\"@id\":\"https://content.nfx.com/tags/network-effects#webpage\",\"url\":\"https://content.nfx.com/tags/network-effects\",\"name\":\"NFX - 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Network Effects","isPartOf":{"@id":"https://content.nfx.com/#website"},"breadcrumb":{"@id":"https://content.nfx.com/tags/network-effects#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https://content.nfx.com/tags/network-effects"]}]},{"@type":"BreadcrumbList","@id":"https://content.nfx.com/tags/network-effects#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https://content.nfx.com/"},{"@type":"ListItem","position":2,"name":"Network Effects"}]}]}},"_links":{"self":[{"href":"https://content.nfx.com/wp-json/wp/v2/tags/8"}],"collection":[{"href":"https://content.nfx.com/wp-json/wp/v2/tags"}],"about":[{"href":"https://content.nfx.com/wp-json/wp/v2/taxonomies/post_tag"}],"wp:post_type":[{"href":"https://content.nfx.com/wp-json/wp/v2/posts?tags=8"}],"curies":[{"name":"wp","href":"https://api.w.org/{rel}","templated":true}]}}]]}},{"id":158,"date":"2019-07-25T08:47:59","date_gmt":"2019-07-25T08:47:59","guid":{"rendered":"https://content.nfx.com/?p=158"},"modified":"2022-04-27T15:35:22","modified_gmt":"2022-04-27T22:35:22","slug":"network-effects-archives","status":"publish","type":"post","link":"https://content.nfx.com/post/network-effects-archives","title":{"rendered":"The NFX Archives: Foundations for Mastering Network Effects"},"content":{"rendered":"\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/OG-V3-1-1.jpg\" alt=\"The NFX Archives\" /\u003e\u003c/p\u003e\n\u003cp\u003eSince the arrival of the internet, network effects have become the most important source of value creation in the networked economy. Companies built on top of network effects have become the dominant players in the digital world, having created \u003ca href=\"https://www.nfx.com/post/70-percent-value-network-effects/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e70% of the value in tech\u003c/a\u003e over the past two decades.\u003c/p\u003e\n\u003cp\u003eOur understanding of network effects underlies much of what we do at NFX. As entrepreneurs, we started 10 network effect businesses worth over $10 billion, and we’ve previously published two of the most comprehensive online references on network effects:\u003c/p\u003e\n\u003col\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-manual\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe NFX Manual\u003c/a\u003e — a deep dive into the 13 known types of network effects\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-bible\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe NFX Bible\u003c/a\u003e — an in-depth explanation of all network effect-related concepts\u003c/li\u003e\n\u003c/ol\u003e\n\u003cp\u003eToday, we’re releasing the third part of this series: the NFX Archives. Think of it like required, foundational reading for mastering how network effects work. These are the papers, articles, and books we read that proved to be invaluable for building strong, highly defensible companies.\u003c/p\u003e\n\u003cp\u003eThis repository is always evolving and growing, and so we’ll continue to update and expand it. For now, there are three parts:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-archives#part-i-network-science\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePart I: Network Science\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-archives#part-ii-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePart II: Network Effects\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-archives#part-iii-other-defensibilities\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePart III: Other Defensibilities\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eFor your convenience, we’ve summarized the articles and their main points. If you want a deeper dive on any particular resource, we encourage you to click through and read the full article. We’ve found every article in this list to be worth the time investment.\u003c/p\u003e\n\u003cp\u003eWe believe world-class Founders see what others do not. Our mission is to empower them in building companies that endure. We hope you find these resources just as invaluable to your journey as they were to ours.\u003c/p\u003e\n\u003ch2\u003ePart I: Network Science\u003c/h2\u003e\n\u003cp\u003eNetwork science, also known as graph theory in mathematics, is the academic study of complex networked systems and their real-world properties. This section includes a thorough survey of network fundamentals: what we currently know about the structure, behavior, dynamics, categories, and characteristics of different types of networks. For those interested, this collection of academic resources will give you the ability to look past the surface and understand the underlying patterns of our networked world at a deeper level.\u003c/p\u003e\n\u003ch3 id=\"1-the-small-world-problem\"\u003e1. \u003ca href=\"http://snap.stanford.edu/class/cs224w-readings/milgram67smallworld.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Small-World Problem\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eStanley Milgram, \u003cem\u003ePsychology Today, \u003c/em\u003e1967\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/08/5cca2e12f1988c86fda74e34_Nebraska-Study.png\" alt=\"Stanley Milgram's Nebraska Study\" /\u003e\u003c/p\u003e\n\u003cp\u003e‍\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe earliest study to ever verify the existence of the “small-world phenomenon”, i.e. the very low number of intermediaries needed to connect two people in massive networks of millions of people (in this case, the United States back in the 1960s with a population of ~ 200 million). Milgram’s method was basically to select two people on opposite sides of the country at random and find out how many intermediaries it would take to forward a folder from person A (the “starting person”) to person B (the “target person”). With this simple experiment in a pre-internet world, Milgram was able to establish a median path length of 6 (5 intermediaries) across the population of the United States, corresponding to the popular phrase “six degrees of separation” (later popularized by playwright John Guare).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nMilgram’s article was the first empirical study of \u003ca href=\"https://www.nfx.com/post/network-effects-manual#personal-direct\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003epersonal direct networks\u003c/a\u003e, and set the stage for broader studies of real-world networks that came afterwards. It foreshadowed many topics expanded on by resources later in this guide, such as the importance of acquaintances (\u003ca href=\"https://www.nfx.com/post/network-effects-archives#2-the-strength-of-weak-ties\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ethe strength of weak ties\u003c/a\u003e) in reducing path length, the existence of small-world networks, and the differential importance of nodes and paths. One of the first social networks on the internet, \u003ca href=\"https://en.wikipedia.org/wiki/SixDegrees.com\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003esixdegrees.com,\u003c/a\u003e was named after the small-world phenomenon explored by Milgram. So, too, was the actor Kevin Bacon’s charity \u003ca href=\"https://en.wikipedia.org/wiki/SixDegrees.org\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003esixdegrees.org\u003c/a\u003e, a reference to the 1994 meme “six degrees of Kevin Bacon” which referred to the small-world phenomenon in the Hollywood actor network.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Almost all of us have had the experience of encountering someone far from home who, to our surprise, turns out to share a mutual acquaintance” \u0026#8211; 61\u003c/li\u003e\n\u003cli\u003e“Starting with any two people in the world, what is the probability that they will know each other?” [the ‘small-world problem’] \u0026#8211; 62\u003c/li\u003e\n\u003cli\u003e“We learned that the chain [the distance between two randomly selected individuals in the United States] varied from two to 10 intermediate acquaintances, with the median at five.” \u0026#8211; 65\u003c/li\u003e\n\u003cli\u003e“Each of us is embedded in a small-world structure. It is not true, however, that each of our acquaintances constitutes an equally important basis of contact with the larger social world… some friends are relatively isolated, while others possess a wide circle of acquaintances [i.e. weak ties], and contact with them brings us into a far-ranging network.” \u0026#8211; 66\u003c/li\u003e\n\u003cli\u003e“Social communication is sometimes restricted less by physical distance than by social distance.” \u0026#8211; 66\u003c/li\u003e\n\u003cli\u003e“A very interesting theorem based on the model of the small world\u0026#8230; states that if two persons from two different populations cannot make contact, then no one within the entire population in which each is embedded can make contact with any person in the other population.” \u0026#8211; 67\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"2-the-strength-of-weak-ties\"\u003e2. \u003ca href=\"http://www.cs.umd.edu/~golbeck/INST633o/granovetterTies.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Strength of Weak Ties\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eMark. S Granovetter, \u003cem\u003eAmerican Journal of Sociology \u003c/em\u003e1973\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn one of the most heavily cited sociology articles ever published (with more than \u003ca href=\"https://scholar.google.com/scholar?cites=14515354456573432193\u0026amp;as_sdt=2005\u0026amp;sciodt=0,5\u0026amp;hl=en\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e50,000 citations\u003c/a\u003e as of December 2018), “the Strength of Weak Ties” was one of the foundational documents of network science. In it, Mark Granovetter argues that so-called “weak ties” are responsible for connecting nodes in different network cliques or “clusters”, because strong ties are usually shared by other members of the same cluster. In other words, weak ties — e.g. acquaintances — are the “bridges” between nodes in a network that don’t usually interact; and in performing that function, they reduce the overall average degree of separation, or path length, between any two nodes in a network.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Weak-Ties.png\" alt=\"Build networked products enabling users to form \" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe counterintuitive “strength of weak ties” argument has many important implications for Founders looking to build networked products. For one thing, it shows that enabling users to form weak ties easily is probably crucial for the cohesion of a network. Weak ties could be an effective countermeasure against the development of algorithmic filter bubbles, which can have harmful externalities and damage the health of the user ecosystem. But the ability to form weak ties must be tempered against the need to avoid \u003ca href=\"https://www.nfx.com/post/network-effects-bible#negative-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enetwork pollution\u003c/a\u003e which can result from too many weak ties.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“The strength of a tie is a (probably linear) combination of the amount of time, the emotional intensity, the intimacy (mutual confiding), and the reciprocal services which characterize the tie.” \u0026#8211; 1361\u003c/li\u003e\n\u003cli\u003e“The stronger the tie between A and B, the larger the proportion of individuals… to whom they will \u003cem\u003eboth \u003c/em\u003ebe tied” \u0026#8211; 1362\u003c/li\u003e\n\u003cli\u003e“Overlap in their friendship circles is predicted to be least when their tie is absent, most when it is strong, and intermediate when it is weak.” \u0026#8211; 1362\u003c/li\u003e\n\u003cli\u003e“If strong ties \u003cem\u003eA-B \u003c/em\u003eand \u003cem\u003eA-C \u003c/em\u003eexist, and if \u003cem\u003eB \u003c/em\u003eand \u003cem\u003eC \u003c/em\u003eare aware of one another, anything short of a positive tie would introduce a \u0026#8216;psychological strain\u0026#8217; into the situation since \u003cem\u003eC\u003c/em\u003e will want his own feelings to be congruent with those of his good friend, \u003cem\u003eA\u003c/em\u003e, and similarly, for \u003cem\u003eB \u003c/em\u003eand \u003cem\u003ehis \u003c/em\u003efriend, \u003cem\u003eA.” \u0026#8211; 1362\u003c/em\u003e‍\u003c/li\u003e\n\u003cli\u003e“The triad which is most \u003cem\u003eunlikely \u003c/em\u003eto occur, under the hypothesis stated above, is that in which \u003cem\u003eA \u003c/em\u003eand \u003cem\u003eB \u003c/em\u003eare strongly linked, \u003cem\u003eA\u003c/em\u003e has a strong tie to some friend \u003cem\u003eC\u003c/em\u003e, but the tie between \u003cem\u003eC \u003c/em\u003eand \u003cem\u003eB \u003c/em\u003eis absent [a description of the ‘forbidden triad’ pictured below]” \u0026#8211; 1363\u003c/li\u003e\n\u003c/ul\u003e\n\u003cfigure class=\"w-richtext-figure-type-image w-richtext-align-center\" data-rt-type=\"image\" data-rt-align=\"center\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Forbidden-Triad-1.png\" alt=\"Mark Granovetter's Forbidden Triad\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003ch3\u003e3. \u003ca href=\"https://faculty.washington.edu/matsueda/courses/587/readings/Coleman%201988.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eSocial Capital in the Creation of Human Capital\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eJames S. Coleman, \u003cem\u003eUniversity of Chicago Press\u003c/em\u003e, 1988\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis paper attempts to formalize the concept of “social capital” — a parallel concept to financial capital, physical capital, and human capital. From a network perspective, the thesis can be interpreted as a description of the protocols and payload of exchange between nodes in a network that isn\u0026#8217;t mediated by currency (i.e. a network that\u0026#8217;s not a market). Social capital, Coleman observes, performs the same function as in such networks as financial capital (currency + transaction systems) for markets. The author proposes that social capital arises from a combination of network structure and the strength of ties within a network, and classifies several different categories of social capital.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Networked-Products.png\" alt=\"The implications for building networked products are profound for Founders who want to create an effective self-regulating community.\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003e\u003cbr /\u003e\nWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis paper demonstrates the importance of network structure to the formation of norms and trustworthiness within a network and reveals how the ability to substitute reputation and obligation for financial credit and insurance can work within tight, closed networks (such as wholesale diamond markets, as discussed in this paper). The author uses the terms “closed” and “closure” to indicate the existence of network clusters with a high proportion of overlapping strong ties (i.e. a high clustering coefficient). The implications for building networked products are profound for Founders who want to create an effective self-regulating community (e.g. certain subreddits) — instead of having to hire full-time content monitors or algorithmic censors for user-generated content (e.g. Facebook, Twitter, and YouTube).\u003c/p\u003e\n\u003cfigure class=\"w-richtext-figure-type-image w-richtext-align-fullwidth\" style=\"max-width: 1200;\" data-rt-type=\"image\" data-rt-align=\"fullwidth\" data-rt-max-width=\"1200\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Networks-1.png\" alt=\"Network closure diagram\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Social capital is part of a general theoretical strategy discussed in the paper: taking rational action as a starting point but rejecting the extreme individualistic premises that often accompany it.” \u0026#8211; S95\u003c/li\u003e\n\u003cli\u003e“Three forms of social capital are examined: obligations and expectations, information channels, and social norms.” \u0026#8211; S95\u003c/li\u003e\n\u003cli\u003e“If we begin with a theory of rational action… then social capital constitutes a particular kind of resource available to an actor.” \u0026#8211; S98\u003c/li\u003e\n\u003cli\u003e“Like other forms of capital, social capital is productive, making possible the achievement of certain ends that in its absence would not be possible.” \u0026#8211; S98\u003c/li\u003e\n\u003cli\u003eThe consequence of closure is that norms can be reinforced by common ties instead of having to be enforced unilaterally. Closure provides “a set of effective sanctions that can monitor and guide behavior.” \u0026#8211; S107\u003c/li\u003e\n\u003cli\u003e“Reputation cannot arise in an open structure… closure creates trustworthiness in a social structure.” \u0026#8211; S108\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"collective-dynamics-of-small-world-networks\"\u003e4. \u003ca href=\"https://static.squarespace.com/static/5436e695e4b07f1e91b30155/t/54452561e4b08d9eb2170909/1413817697054/collective-dynamics-of-small-world-networks.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eCollective dynamics of ‘small-world’ networks\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eDuncan J. Watts \u0026amp; Steven H. Strogatz, \u003cem\u003eNature \u003c/em\u003e1998\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Small-World-1.png\" alt=\"Small-world network diagram\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis heavily cited paper extends the “strength of weak ties” thesis by asking whether the “small-world” phenomenon (networks where there are relatively few degrees of separation between any two given individuals) can exist in networks with a high degree of \u003ca href=\"https://www.nfx.com/post/network-effects-bible#irregularity\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eclustering\u003c/a\u003e (cliques or highly interconnected local neighborhoods within a network). The authors show that, with just a few “short-cuts” (i.e. bridges) connecting faraway neighborhoods within a network, even a highly clustered network can have a low characteristic path length. Their name for such a network is a “small-world network”, also known as the \u003ca href=\"https://en.wikipedia.org/wiki/Watts%E2%80%93Strogatz_model\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eWatts-Strogatz model\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe “small-world network” thesis shows that highly regular networks with many strong ties and few weak ties can still be relatively well-connected, meaning that even if the users of a social network (for example) mostly only interact with a small circle of other users, the larger network can still be relatively cohesive as long as just a few “short-cut” connections exist. The Watts-Strogatz model thus provides a solution to maintaining network cohesion without risking \u003ca href=\"https://www.nfx.com/post/network-effects-bible#negative-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enetwork pollution\u003c/a\u003e — allowing users to make short-cut connections to distant users while preventing the need for an inflated amount of irrelevant connections (e.g. LinkedIn).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eSmall-world networks are regular networks that have been“‘rewired’ to introduce increasing amounts of disorder… [they] can be highly clustered, like regular lattices, yet have small characteristic path lengths, like random graphs… we call them ‘small-world’ networks, by analogy with the small-world phenomenon (popularly known as six degrees of separation).” \u0026#8211; 440\u003c/li\u003e\n\u003cli\u003e“Infectious diseases spread more easily in small-world networks than in regular lattices” \u0026#8211; 440\u003c/li\u003e\n\u003cli\u003eThere’s a “broad interval of randomness” over which a network’s characteristic path length at a given level of randomness is almost as small as the characteristic path length of a completely random network, but the network’s clustering coefficient is greater than the clustering coefficient of a random network. \u0026#8211; 440\u003c/li\u003e\n\u003cli\u003e“These small-world networks result from the immediate drop in [characteristic path length] caused by the introduction of a few long-range edges. Such ‘short-cuts’ [i.e. bridges] connect vertices that would otherwise be much farther apart [than a totally random network].” \u0026#8211; 440\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e5. \u003ca href=\"http://barabasi.com/f/67.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eEmergence of Scaling in Random Networks\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eAlbert-László Barabási and Réka Albert, \u003cem\u003eScience\u003c/em\u003e, 1999\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn contrast to both Watts and Strogatz’s small-world network model and to Erdős–Rényi random graph model, \u003ca href=\"https://twitter.com/barabasi\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eAlbert-László Barabási\u003c/a\u003e and Réka Albert show that in large, complex networks, highly connected vertices have a large chance of occurring and of dominating connectivity in a network. In other words, a small number of “rich” nodes accrue most of the links, which explains the \u003ca href=\"https://en.wikipedia.org/wiki/Scale-free_network\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003escale-free,\u003c/a\u003e power-law distribution of node degrees observed within complex networks.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe main importance of this article is that it’s one of the first to evaluate network topology by using data from real-world networks, and it concludes that the reason for the existence of scale-free networks in the real world (instead of random graphs) is a phenomenon Barabási calls \u003cem\u003epreferential attachment\u003c/em\u003e. Preferential attachment happens when, as networks grow, new nodes disproportionally tend to form links with nodes that already have a high degree of connectivity, giving complex networks a self-organizing quality. In other words, in real-world networks, well-connected nodes tend to get even more connected as the network scales.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“A common property of many large networks is that the vertex connectivities [i.e. links] follow a scale-free power-law distribution.” \u0026#8211; 509\u003c/li\u003e\n\u003cli\u003e“This feature was found to be a consequence of two generic mechanisms: (i) networks expand continuously by the addition of new vertices, and (ii) new vertices attach preferentially to sites that are already well connected.” \u0026#8211; 509\u003c/li\u003e\n\u003cli\u003e“The development of large networks is governed by robust self-organizing phenomena that go beyond the particulars of the individual systems.” \u0026#8211; 509\u003c/li\u003e\n\u003cli\u003e“Traditionally, networks of complex topology have been described with the random graph theory.” \u0026#8211; 510\u003c/li\u003e\n\u003cli\u003e“Here we report on the existence of a high degree of self-organization characterizing the large-scale properties of complex networks.” \u0026#8211; 510\u003c/li\u003e\n\u003cli\u003e“Independent of the system and the identity of its constituents, the probability \u003cem\u003eP(k) \u003c/em\u003ethat a vertex in the network interacts with \u003cem\u003ek \u003c/em\u003eother vertices decays as a power law… This result indicates that large networks self-organize into a scale-free state.” \u0026#8211; 510\u003c/li\u003e\n\u003cli\u003e“Because of the preferential attachment, a vertex that acquires more connections than another one will increase its connectivity at a higher rate; thus an initial difference in the connectivity between two vertices will increase further as the network grows.” \u0026#8211; 511\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e6. \u003ca href=\"https://arxiv.org/pdf/cond-mat/0303516.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe structure and function of complex networks\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eM. E. J. Newman, \u003cem\u003eUniversity of Michigan Department of Physics \u003c/em\u003e2003\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nA well-written, thorough overview of academic literature on network science, covering everything from clustering coefficient formulas to models of network resilience. Although much of the article is technical, containing mathematical models and formulae of different network phenomena, it’s still well worth a skim for Founders looking for an all-inclusive resource to familiarize themselves with the foundations of network science and how network properties can be statistically studied.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003cbr /\u003e\n‍\u003c/em\u003e\u003c/strong\u003eThere are many gems with real-world implications in this article. In a section about network resilience, for example, Newman points out that most real-world networks can endure the removal of nodes at random without much damage, but are very vulnerable to the removal of high-degree nodes. So in other words, key users with high network centrality are the key to the overall health of the network— making them much more valuable than marginal nodes without many connections. If a key user or group of key users have high enough network centrality, they could even become indispensable for the health of the network. This implies that Founders should do whatever they can to incentivize users with high degree centrality to stay, and should treat it as a very serious problem when they notice movement of such users away from their network.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Graphs may also evolve over time, with vertices or edges appearing or disappearing, or values defined on those vertices and edges changing.” \u0026#8211; 4\u003c/li\u003e\n\u003cli\u003e“[There are] four loose categories of networks: social networks, information networks, technological networks and biological networks.” \u0026#8211; 5\u003c/li\u003e\n\u003cli\u003e\u003cem\u003eThe small-world effect\u003c/em\u003e: “the fact that most pairs of vertices in most [real-world] networks seem to be connected by a short path through the network.” \u0026#8211; 9\u003c/li\u003e\n\u003cli\u003eThe formula for calculating a network\u0026#8217;s clustering coefficient: multiply the number of triangles (sets of nodes each of which is connected to each of the others) in the network by 3, then divide that by the number of connected triples (single nodes with links running to an unordered pair of other nodes) \u0026#8211; 11\u003c/li\u003e\n\u003cli\u003e“Most networks are robust against random vertex [node] removal but considerably less robust to targeted removal of the highest-degree vertices [nodes].” \u0026#8211; 16\u003c/li\u003e\n\u003cli\u003e“In most kinds of networks there are at least a few different types of vertices, and the probability of connection between vertices often depends on types.” \u0026#8211; 16\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e7. \u003ca href=\"https://research.fb.com/wp-content/uploads/2012/06/four-degrees-of-separation.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eFour Degrees of Separation\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eFacebook Research, June 2012\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nUtilizing Facebook user data, a research team was able to observe an average distance (path length) of 4.74 across their network, meaning that there were on average 3.74 degrees of separation between any two people on the Facebook network —- the largest ever studied up until the time of this paper.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFounders can take several lessons away from this paper. Firstly, it’s significant that a technology company was able to single-handedly reduce the characteristic path length of a significant portion of humanity. The implications of that for the diffusion of ideas are pretty vast, and the cohesion of the Facebook network probably goes towards explaining the high efficacy of Facebook advertising. Secondly, it’s worth noticing that Facebook devoted the time and resources to conduct this study. Facebook \u003ca href=\"https://www.nfx.com/post/network-effects-facebook\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eknows their network is a goldmine\u003c/a\u003e, they’re familiar with the basic concepts of graph theory, and they’re applying network science to make the best use of their network. If Zuck cares about this stuff, you probably should too.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e \u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Results of the first world-scale social-network graph-distance computations, using the entire Facebook network of active users (~721 million users, ~69 billion friendship links). The average distance we observe is 4.74, corresponding to 3.74 intermediaries or “degrees of separation” \u0026#8211; 45\u003c/li\u003e\n\u003cli\u003e“The networks we are able to explore are almost two orders of magnitude larger than those analysed in the previous literature” \u0026#8211; 45\u003c/li\u003e\n\u003cli\u003e“We also observe both a stabilisation of the average distance over time” \u0026#8211; 45\u003c/li\u003e\n\u003cli\u003e“During the fastest growing years of Facebook our graphs show a quick decrease in the average distance, which however appears now to be stabilizing… at the same time, density was going down steadily… \u003cstrong\u003ewe thus see the small-world phenomenon fully at work\u003c/strong\u003e: a smaller fraction of arcs connecting the users, but nonetheless a lower average distance.” \u0026#8211; 51 / 52\u003c/li\u003e\n\u003cli\u003e“In an absolute sense [on Facebook], geographical concentration increases density” \u0026#8211; 51\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 id=\"8-three-and-a-half-degrees-of-separation\"\u003e8. \u003ca href=\"https://research.fb.com/three-and-a-half-degrees-of-separation/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThree and a half degrees of separation\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eFacebook Research, February 2016\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nAn update of Facebook’s initial study in 2012, this follow-up shows that the trend towards fewer degrees of separation between users in the Facebook network continued even as the size of the network more than doubled, from 721 million active users to 1.59 billion.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nAnother data point demonstrating the increasingly networked nature of the world at large as a result of internet-enabled networks like Facebook. It is striking that Facebook sees a reduction in characteristic path length across their network as an unambiguous sign of progress, as such a trend falls in line with their mission statement to make the world more “open and connected”. However, some of the downsides of an increased ease of diffusing ideas across Facebook made themselves known the very year this study was published.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“We’ve crunched the Facebook friend graph and determined that the number [of degrees of separation] is 3.57.”\u003c/li\u003e\n\u003cli\u003e“Each person in the world (at least among the 1.59 billion people active on Facebook) is connected to every other person by an average of three and a half other people.”\u003c/li\u003e\n\u003cli\u003e“Within the US, people are connected to each other by an average of 3.46 degrees.”\u003c/li\u003e\n\u003cli\u003e“Our collective ‘degrees of separation’ have shrunk over the past five years”.\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e9. \u003ca href=\"http://barabasi.com/networksciencebook/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNetwork Science\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eAlbert-László Barabási, 2016\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nBarabási’s “Network Science” is one of the most comprehensive resources available on network science. It covers most network fundamentals, from network distance to degree distribution, and walks you through the underlying math. Barabási also includes an expanded discussion of his theory of “preferential attachment”, which helps show why a wide variety of network structures display the scale-free property.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/5cca2e12f1988cc527a74e02_Nodes.png\" alt=\"Summary\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003e‍\u003cbr /\u003e\nWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\n\u003cem\u003eNetwork Science\u003c/em\u003e is worth skimming in its entirety for Founders who want a solid fundamental grasp of both graph theory and network science, but special attention is due to Chapter 5, “The Albert-Barabási Model”, which introduces the concept of preferential attachment. Here, Barabási observes that network degrees (links per node) tend to follow a Pareto “80/20” distribution rather than a Poisson distribution as might be expected, if extrapolating from random graph theory. He explains this by pointing out that \u003cstrong\u003enodes prefer to link to connected nodes (nodes with a high relative degree)\u003c/strong\u003e — leading to a small number of nodes with a large number of links. Another observation Founders might find useful is that \u003cstrong\u003esocial networks tend to be assortative\u003c/strong\u003e, meaning that hubs (high degree nodes) tend to link to each other and, at the same time, avoid linking to low degree nodes.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Networks permeate science, technology, business and nature to a much higher degree than it may be evident upon a casual inspection. Consequently, \u003cem\u003ewe will never understand complex systems unless we develop a deep understanding of the networks behind them\u003c/em\u003e.” \u0026#8211; 1.2\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003eVulnerability due to interconnectivity: \u003c/strong\u003e“Being part of a network has its catch… local failures may not stay local any longer. Their impact can travel along the network’s links and affect other nodes, consumers and individuals apparently removed from the original problem. In general interconnectivity induces a remarkable non-locality. It allows information, memes, business practices, power, energy, and viruses to spread on their respective social or technological networks, reaching us, no matter our distance from the source.” \u0026#8211; 1.1\u003c/li\u003e\n\u003cli\u003e“WIth an estimated size of over one trillion documents (\u003cem\u003eN \u003c/em\u003e≈\u003cem\u003e 1012)\u003c/em\u003e, the Web is the largest network humanity has ever built. It exceeds in size even the human brain (\u003cem\u003eN\u003c/em\u003e \u003cem\u003e≈\u003c/em\u003e 1011 neurons).” \u0026#8211; 4.1\u003c/li\u003e\n\u003cli\u003e“The 80/20 rule is present in networks as well: 80 percent of links on the Web point to only 15 percent of webpages; 80 percent of citations go to only 38 percent of scientists; 80 percent of links in Hollywood are connected to 30 percent of actors. Most quantities following a power law distribution obey the 80/20 rule.” \u0026#8211; 4.2\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003ePreferential attachment: \u003c/strong\u003e“In most real networks new nodes prefer to link to the more connected nodes” \u0026#8211; 5.2. This explains the existence of a power law in degree distribution across a diversity of complex systems\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e10. \u003ca href=\"https://www.amazon.com/Square-Tower-Networks-Freemasons-Facebook/dp/0735222916/ref=sr_1_1?ie=UTF8\u0026amp;qid=1544481864\u0026amp;sr=8-1\u0026amp;keywords=the+square+and+the+tower\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Square and the Tower\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eNiall Ferguson, 2018\u003c/p\u003e\n\u003cfigure class=\"w-richtext-figure-type-image w-richtext-align-center\" data-rt-type=\"image\" data-rt-align=\"center\"\u003e\n\u003cdiv\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/tower.jpg\" alt=\"Niall Ferguson's The Square and the Tower\" /\u003e\u003c/div\u003e\n\u003c/figure\u003e\n\u003cp\u003e‍\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\n\u003cem\u003eThe Square and the Tower\u003c/em\u003e is about the evolution of social and political networks and hierarchies throughout history. Although most of the book is about history, in chapters 5 through 8 \u003ca href=\"https://twitter.com/nfergus\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNiall Ferguson\u003c/a\u003e, who\u0026#8217;s an excellent writer, explains most of the major network science concepts in an accessible way — from the origins of graph theory right up to the present. Ferguson also recaps a lot of the relevant academic literature in easy-to-understand, plain language, including some resources covered elsewhere in this article. Topics of interest include: scale-free networks, modular networks, hierarchies, network vulnerabilities, and inter-network dynamics.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFounders looking for a well-written, accessible take on network science will find chapters 5-8 of \u003cem\u003ethe Square and the Tower \u003c/em\u003evaluable. Throughout the book, Ferguson deftly applies abstract network science concepts in analyzing real events, which may prove inspirational for Founders looking to apply theoretical network concepts in a real-world context. For example, his insights on network structure have important implications for building virality. As we’ve written in the past, it’s not always the product itself that leads to rapid dissemination. Targeting the right network cluster can be more important — which is why we urge our Founders to \u003ca href=\"https://www.nfx.com/post/network-effects-bible#irregularity\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003efind the white-hot center\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Network structure can be as important as the idea itself in determining the speed and extent of diffusion” \u0026#8211; 34\u003c/li\u003e\n\u003cli\u003e“In the process of going viral, a key role is played by nodes that are not merely hubs or brokers but ‘gate-keepers’ — people who decide whether or not to pass information to their part of the network. Their decision will be based partly on how they think that information will reflect back on them.” \u0026#8211; 34\u003c/li\u003e\n\u003cli\u003e“A complex cultural contagion… first needs to attain a \u003ca href=\"https://www.nfx.com/post/why-startup-timing-is-everything#the-critical-mass-theory-of-startups\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ecritical mass\u003c/a\u003e of early adopters with \u003cstrong\u003ehigh degree centrality \u003c/strong\u003e(relatively large numbers of influential friends).” \u0026#8211; 35\u003c/li\u003e\n\u003cli\u003e“Far from being the opposite of a network, a hierarchy is just a special kind of network” \u0026#8211; 39\u003c/li\u003e\n\u003cli\u003eA seemingly random network can evolve with astounding speed into a hierarchy” \u0026#8211; 40\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003ePart II: Network Effects\u003c/h2\u003e\n\u003cp\u003eIn the past, NFX has published some of our frameworks for understanding network effects, including the \u003ca href=\"https://www.nfx.com/post/network-effects-bible\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX Bible\u003c/a\u003e and the \u003ca href=\"https://www.nfx.com/post/network-effects-manual\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX Manual\u003c/a\u003e. In addition, we’ve done case studies examining specific companies to provide commonly understood examples of how our frameworks map to the real world, including:\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/the-nfx-of-trulia-building-a-3-5-billion-marketplace\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe nfx of Trulia\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/the-network-effects-map-nfx-case-study-uber\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe nfx of Uber\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/network-effects-facebook\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe nfx of Facebook\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/introducing-mammoth-biosciences\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe nfx of Mammoth\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eWe’ve also made known different facets of network effects, such as\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/reinforcement-building-iconic-tech-companies\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eReinforcement: The Hidden Key to Building Iconic Tech Companies\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/10-years-about-market-networks\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Next 10 Years Will Be About Market Networks\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e\u003ca href=\"https://www.nfx.com/post/19-marketplace-tactics-for-overcoming-the-chicken-or-egg-problem\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e19 Tactics to Solve the Chicken-or-Egg Problem and Grow Your Marketplace\u003c/a\u003e\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003eWe do all this because we think it benefits Founders in their efforts to build transformative companies. There’s still much more ground for us to cover, as networks and network effects are a broad subject.\u003c/p\u003e\n\u003cp\u003eBut, in the meantime, here are some of the best supplemental — and perhaps more academic — resources. There’s a surprising amount of value here for those Founders who are willing to take the time.\u003c/p\u003e\n\u003ch3 id=\"11-increasing-returns-and-the-new-world-of-business\"\u003e11. \u003ca href=\"https://hbr.org/1996/07/increasing-returns-and-the-new-world-of-business\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eIncreasing Returns and the New World of Business\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eW. Brian Arthur, \u003cem\u003eHarvard Business Review,\u003c/em\u003e July-August 1996\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nW. Brian Arthur, one of the first economists to work on complexity theory, was also early to recognize the importance of network effects in his seminal work on increasing returns, which he began in the 1970s.\u003c/p\u003e\n\u003cp\u003eIn this classic HBR summary of his work on increasing returns, Arthur distinguishes two types of markets. One, which he calls the “Halls of Production”, are markets subject to diminishing returns. These markets, he says, act in a way consistent with traditional economics: diminishing returns impose natural limits on market share, meaning that margins stay low and prices stay competitive. He associates the “Halls of Production” with manufacturing and traditional industry.\u003c/p\u003e\n\u003cp\u003eIncreasing returns markets, on the other hand, tend to produce winner-take-most effects, where a single winner takes most of the value in a market. This increasing returns dynamic, according to Arthur, characterizes one part of the economy in particular: high technology. He calls this part of the economy the “Casino of Technology”.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Superior-Tech.png\" alt=\"It's not enough to have superior technology or to be the first mover in a market - you have to understand what Arthur calls the local market\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nLike NFX, Arthur argues that Founders looking to play at the “Casino of Technology” need to learn how to actively manage increasing returns if they want to win. It’s not enough to have superior technology or to be the first mover in a market — you have to understand what Arthur calls the local market “ecology” (i.e. the network of adjacent or \u003ca href=\"https://www.nfx.com/post/why-startup-timing-is-everything#precondition-1-enabling-technologies\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eenabling technologies\u003c/a\u003e).\u003c/p\u003e\n\u003cp\u003eHe also argues that in high-volatility, increasing returns markets, you have to become a “wizard of precognition” to see “the shape of the next game.” Constant adaptation and correctly identifying the shape of things to come are the skills for winning in increasing returns markets, rather than the “Halls of Production” skills of incremental optimization, driving down costs and increasing quality.\u003c/p\u003e\n\u003cp\u003e(Side note: W. Brian Arthur did an \u003ca href=\"https://a16z.com/2018/05/16/network-effects-positive-feedbacks-increasing-returns-complexity-silicon-valley-history-innovation/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ea16z podcast\u003c/a\u003e with Marc Andreessen and Sonal Chokshi in 2018 where he discusses the same ideas in an updated context. It’s worth a listen for Founders who prefer an audio format).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“The underlying mechanisms that determine economic behavior have shifted from ones of diminishing returns to ones of \u003cem\u003eincreasing \u003c/em\u003ereturns.”\u003c/li\u003e\n\u003cli\u003e“Increasing returns are the tendency for that which is ahead to get further ahead”\u003c/li\u003e\n\u003cli\u003e“We can usefully think of two economic regimes or worlds: a bulk-production world \u0026#8230; operating according to principles of diminishing returns, and a knowledge-based part of the economy … operating under increasing returns.”\u003c/li\u003e\n\u003cli\u003e“the art of playing the tables in the Casino of Technology is primarily a psychological one. What counts to some degree—but only to some degree—is technical expertise, deep pockets, will, and courage. \u003cstrong\u003eAbove all, the rewards go to the players who are first to make sense of the new games looming out of the technological fog\u003c/strong\u003e, to see their shape, to cognize them. Bill Gates isnot so much a wizard of technology as a wizard of precognition, of discerning the shape of the next game.”\u003c/li\u003e\n\u003cli\u003e“\u003cstrong\u003eYou cannot optimize in the casino of increasing-returns games. You can be smart. You can be cunning. You can position. You can observe.\u003c/strong\u003e But when the games themselves are not even fully defined, you cannot optimize. What you \u003cem\u003ecan\u003c/em\u003e do is adapt.”\u003c/li\u003e\n\u003cli\u003e“Unlike products of the processing world, such as soybeans or rolled steel, technological products exist within local groupings of products that support and enhance them. They exist in mini-ecologies.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e12. \u003ca href=\"http://www.jstor.org/stable/3003090\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eA Theory of Interdependent Demand for a Communication Service\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eJeffrey Rohlfs, \u003cem\u003eThe Bell Journal of Economics and Management Science, \u003c/em\u003e1974\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nPerhaps the first in-depth academic study of network effects, this paper examines what it calls “dynamic demand” for communication services. The authors noticed early on that the demand for a communication service scales with the size of the service, as each marginal subscriber improves the utility of the service for all other subscribers. This concept gave rise to the term “demand-side economies of scale”, which is one aspect of what we now call network effects.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe most interesting nugget in this paper for Founders today has to do with pricing models — even as far back as 1974, the telecommunications industry figured out the value of “growth at all costs”, even if it meant offering pricing that didn’t make sense if you don’t take externalities (network effects) into account.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“The utility that a subscriber derives from a communications service increases as others join the system.” \u0026#8211; 16\u003c/li\u003e\n\u003cli\u003e“This is a classic case of\u003cstrong\u003e external economies in consumption\u003c/strong\u003e.” \u0026#8211; 16\u003c/li\u003e\n\u003cli\u003e“A still lower price, perhaps much lower, might be justified if the externalities are taken into account. The total benefits that \u003cem\u003eall \u003c/em\u003esubscribers derive from the expansion of the service may be sufficient to justify the incremental costs— \u003cstrong\u003eeven if the new subscribers are unwilling to pay the entire incremental costs\u003c/strong\u003e.” \u0026#8211; 17\u003c/li\u003e\n\u003cli\u003e“[In] a dynamic demand model… [new subscribers joining the network] increases the incremental utility of the service and induces marginal nonusers to join. That in turn induces further growth, etc., etc.” \u0026#8211; 17\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e13. \u003ca href=\"http://www.rchss.sinica.edu.tw/cibs/pdf/RochetTirole3.pdf\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePlatform Competition in Two-Sided Markets\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eRochet and Tirole, \u003cem\u003eEuropean Economic Association\u003c/em\u003e, 2003\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis article develops several pricing structure formulae for \u003ca href=\"https://www.nfx.com/post/network-effects-manual#platform-2-sided\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e2-Sided Platforms\u003c/a\u003e (also applicable to \u003ca href=\"https://www.nfx.com/post/network-effects-manual#marketplace-2-sided\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e2-Sided Marketplaces\u003c/a\u003e), observing how various governance structures and network economics change the optimal pricing structures platforms should employ to attract both sides simultaneously.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis article is mostly of interest to Founders who are working with \u003ca href=\"https://www.nfx.com/post/network-effects-manual#2-sided-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e2-sided networks\u003c/a\u003e and want a way to set pricing strategy that’s based on an understanding of network economics. The authors have done a good job of accounting for the dynamics that make multi-sided networks more complicated to manage from a pricing standpoint.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Many if not most markets with network externalities are two-sided. To succeed, platforms \u0026#8230; must ‘get most sides of the market on board.’ Accordingly, platforms devote much attention to their business model, that is, to how they court each side while making money overall.” \u0026#8211; 990\u003c/li\u003e\n\u003cli\u003e“The interaction between the two sides give rise to strong complementarities… our theory is a cross between network economics, which emphasizes such externalities, and the literature on multi-product pricing, which stresses cross-elasticities.” \u0026#8211; 991\u003c/li\u003e\n\u003cli\u003e“Monopoly and competitive platforms design their price structure so as to get both sides on board.” \u0026#8211; 1013\u003c/li\u003e\n\u003cli\u003e“An increase in multihoming on the buyer side facilitates \u003cstrong\u003esteering\u003c/strong\u003e on the seller side and results in a price structure more favorable to sellers.” [because in order to differentiate supply to heighten switching costs for multi-tenanting demand-side users, platforms typically incentivize the supply side to stay with them with favorable price structures or increased visibility in the marketplace and thus increased velocity] \u0026#8211; 1013\u003c/li\u003e\n\u003cli\u003e“The presence of marquee buyers (buyers generating a high surplus on the seller side) raises the seller price and (in the absence of price discrimination on the buyer side) lowers the buyer price.” \u0026#8211; 1013\u003c/li\u003e\n\u003cli\u003e“Captive buyers [demand] tilt the price structure to the benefit of sellers.” \u0026#8211; 1013\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3 class=\"14-network-externalities-effects\"\u003e14. \u003ca href=\"http://www.utdallas.edu/~liebowit/palgrave/network.html\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNetwork Externalities (Effects)\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eS.J. Liebowitz, \u003cem\u003eThe New Palgrave\u0026#8217;s Dictionary of Economics and the Law\u003c/em\u003e, 1998\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nA good overview of the early literature around network effects, including discussion of the mechanics of both positive and negative network effects and their market implications. Liebowitz also coins some helpful network vocabulary, such as when he posits a “congestion externality” (which we’ve written about as well, calling it \u003ca href=\"https://www.nfx.com/post/network-effects-bible#negative-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNetwork Congestion\u003c/a\u003e).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nLiebowitz is excellent here at breaking down network effects to their basic elements and describing them precisely. For example, the distinction between what he calls “autarky value” (standalone value of a product without other users) and the “synchronization value” of a product (the value a product brings through interaction with other users of the product) is a helpful mental model for Founders to strategize networked product features.\u003c/p\u003e\n\u003cp\u003eHe also emphasizes the difference between network externalities and network effects. True externalities are the unrealized secondary consequences of the platform and don’t benefit the platform. They are external. If the owners of a platform are able to move those externalities onto the platform (internalize them), then those externalities become true network effects, and they benefit the platform owners. This is somewhat of a semantic point, except that it shows the strategic importance of designing the product and business model so you capture the value you’re creating as a Founder.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Network externality has been defined as a change in the benefit, or surplus, that an agent derives from a good when the number of other agents consuming the same kind of good changes.”\u003c/li\u003e\n\u003cli\u003e“This allows, in principle, the value received by consumers to be separated into two distinct parts. One component, which in our writings we have labeled the \u003cstrong\u003eautarky value\u003c/strong\u003e, is the value generated by the product even if there are no other users. The second component, which we have called\u003cstrong\u003e synchronization value\u003c/strong\u003e, is the additional value derived from being able to interact with other users of the product, and it is this latter value that is the essence of network effects.”\u003c/li\u003e\n\u003cli\u003e“Network effects should not properly be called network externalities unless the participants in the market fail to internalize these effects… When the owner of a network (or technology) is able to internalize such network effects, they are no longer externalities.”\u003c/li\u003e\n\u003cli\u003e“Though economists have long accepted the possibility of increasing returns, they have generally judged that except in fairly rare instances, the economy operates in a range of decreasing returns. Some proponents of network externalities models predict that as newer technologies take over a larger share of the economy, the share of the economy described by increasing returns will increase.”\u003c/li\u003e\n\u003cli\u003e“Network externality models often feature particular outcomes: Survival of only one network or standard, unreliability of market selection, and the entrenchment of incumbents.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e15. \u003ca href=\"https://spectrum.ieee.org/computing/networks/metcalfes-law-is-wrong\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMetcalfe’s Law is Wrong\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBob Briscoe, Andrew Odlyzko and Benjamin Tilly, \u003cem\u003eIEEE Spectrum\u003c/em\u003e, 2006\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nAn arguably failed attempt to disprove Metcalfe’s Law, given the authors’ own admittance that “our valuation of a communications network… cannot be proved” from first principles, and also given that the authors didn’t try to prove their point using real-world data (as Metcalfe would later do by way of rebuttal — \u003ca href=\"https://www.nfx.com/post/network-effects-archives#16-metcalfes-law-recurses-down-the-long-tail-of-social-networking\" data-rt-link-type=\"external\"\u003esee\u003c/a\u003e \u003ca href=\"https://www.nfx.com/post/network-effects-archives#17-metcalfes-law-after-40-years-of-the-ethernet\" data-rt-link-type=\"external\"\u003ebelow\u003c/a\u003e). Still, it’s an interesting look at Metcalfe’s Law, and the authors suggest an alternative formula for valuing network effects, which grows at a slower logarithmic rate as the network scales.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis resource is primarily useful for its critical examination of the underlying axioms of Metcalfe’s Law, chiefly by using thought experiments. In particular, it points out that the apparent flaw in both Metcalfe\u0026#8217;s Law and \u003ca href=\"https://www.nfx.com/post/network-effects-bible#reeds-law\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eReed\u0026#8217;s Law\u003c/a\u003e is the assumption that all connections or groups (clusters) within a network have equal value — a “common-sense argument that suggests Metcalfe’s and Reed’s laws are incorrect”. But, as Metcalfe shows in the rebuttals below, this article\u0026#8217;s authors don\u0026#8217;t realize how counterintuitive complex systems can be.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“We propose, instead [of Metcalfe\u0026#8217;s square law], that the value of a network of size \u003cem\u003en\u003c/em\u003e grows in proportion to \u003cem\u003en\u003c/em\u003e log(\u003cem\u003en\u003c/em\u003e).”\u003c/li\u003e\n\u003cli\u003e“The increasing value of a network as its size increases certainly lies somewhere between linear and exponential growth “\u003c/li\u003e\n\u003cli\u003e“We admit that our \u003cem\u003en\u003c/em\u003e log(\u003cem\u003en\u003c/em\u003e) valuation of a communications network oversimplifies the complicated question of what creates value in a network… but it fits in with observed developments in the economy.”\u003c/li\u003e\n\u003cli\u003e“The fundamental flaw underlying both Metcalfe’s and Reed’s laws is in the assignment of equal value to all connections or all groups.”\u003c/li\u003e\n\u003cli\u003e“If Metcalfe’s Law were true, then two networks ought to interconnect regardless of their relative sizes. But in the real world of business and networks, only companies of roughly equal size are ever eager to interconnect.”\u003c/li\u003e\n\u003cli\u003e\u003cstrong\u003e“Zipf’s Law \u003c/strong\u003eis one of those empirical rules that characterize a surprising range of real-world phenomena remarkably well. It says that if we order some large collection by size or popularity, the second element in the collection will be about half the measure of the first one, the third one will be about one-third the measure of the first one, and so on”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e16. \u003ca href=\"https://vcmike.wordpress.com/2006/08/18/metcalfe-social-networks/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMetcalfe’s Law Recurses Down the Long Tail of Social Networking\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBob Metcalfe, 2006\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/5cca2e12f1988c1904a74e0d_Devices-2.png\" alt=\"Graph illustrating Metcalfe's Law\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nAround 1980, \u003ca href=\"https://twitter.com/BobMetcalfe\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eBob Metcalfe\u003c/a\u003e, the inventor of the Ethernet, noticed that the value of the Ethernet network grew with each new ethernet node added at an \u003cem\u003eexponential rate\u003c/em\u003e, a discovery which was immortalized as \u003ca href=\"https://www.nfx.com/post/network-effects-bible#metcalfes-law\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMetcalfe’s Law\u003c/a\u003e by George Gilder in 1993. Years later, Metcalfe revisits his own Law after criticism (above). First, Metcalfe proceeds to (hilariously) debunk Olydzko \u0026amp; co’s attempt to refute and revise his law, and then he goes on to suggest areas for further refinement. In doing so, he adds context and depth to his formulation of the value of network effects.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThere are quite a few key insights for Founders in Metcalfe’s essay, many of which were highly prescient given when it was written. Firstly, he anticipates the phenomenon of \u003ca href=\"https://www.nfx.com/post/network-effects-bible#negative-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enegative network effects\u003c/a\u003e long before social networks like Facebook began to experience it — and modeled mathematically how the “diseconomies of scale” of a network might begin to eventually overcome the increasing returns from positive network effects. He also inadvertently accounts for \u003ca href=\"https://www.nfx.com/post/network-effects-bible#reeds-law\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eReed’s Law\u003c/a\u003e (which would otherwise seem to contradict his law) by observing that Metcalfe’s Law \u003cem\u003erecurses \u003c/em\u003ein local networks. That is to say, the value of the network like the internet, given by Metcalfe’s Law to be N^2, can be multiplied by the value of nested local networks (i.e. \u003ca href=\"https://www.nfx.com/post/network-effects-bible#irregularity\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eclusters\u003c/a\u003e), recursing all the way down the long tail of clusters within a network.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“As I wrote a decade ago, \u003cstrong\u003eMetcalfe’s Law is a vision thing.\u003c/strong\u003e It is applicable mostly to smaller networks approaching ‘critical mass.\u003cstrong\u003e’\u003c/strong\u003e And it is undone numerically by the difficulty in quantifying concepts like ‘connected’ and ‘value.’”\u003c/li\u003e\n\u003cli\u003e“There may be diseconomies of network scale that eventually drive values down with increasing size. So, if V=A*N^2, it could be that A (for “affinity,” value per connection) is also a function of N and heads down after some network size, overwhelming N^2.”\u003c/li\u003e\n\u003cli\u003e“Also important would be linking Metcalfe’s Law to Moore’s Law and showing how that potent combination underlies what WIRED’s Editor-in-Chief Chris Anderson calls The Long Tail.”\u003c/li\u003e\n\u003cli\u003e“Metcalfe’s Law points to a critical mass of connectivity after which the benefits of a network grow larger than its costs. “\u003c/li\u003e\n\u003cli\u003e“Combining Moore’s and Metcalfe’s Laws, therefore, the number of users at which a network’s value exceeds its cost halves every two years”\u003c/li\u003e\n\u003cli\u003e“Looking more closely, I see that Metcalfe’s Law recurses. Just being on the Internet has some increasing value that may be described by my law. But then there’s the value of being in a particular social network through the Internet. It’s V~N^2 all over again.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e17. \u003ca href=\"https://ieeexplore.ieee.org/document/6636305\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMetcalfe’s Law after 40 Years of the Ethernet\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBob Metcalfe, \u003cem\u003eComputer\u003c/em\u003e, 2013\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nA follow-up to his 2006 refutation of what he now calls “Odlyzko’s Law”, e.g. the attempted revision of Metcalfe’s Law to define the value of a network as a logarithmic rather than exponential function of \u003ca href=\"https://www.nfx.com/post/network-effects-bible#nodes-and-links\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enetwork size\u003c/a\u003e, this more formalized rebuttal uses a generalized sigmoid function based on Metcalfe’s Law (which Metcalfe calls a “netoid” function) to model an S-curve which he fits to Facebook data, plotting user growth data from 2004 to 2013 against Facebook’s annual revenue to show the first formal empirical proof of Metcalfe’s Law.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nMuch of this article is aimed at formally proving the validity of Metcalfe’s Law, which is interesting of itself because it adds more weight to the importance of network effects for building transformative companies. But of particular interest are Metcalfe’s anecdotes about the growth of his ethernet company 3Com. Not only did he understand the value of network effects as the Marketing and Sales head of 3Com, but he actually \u003cem\u003eused Metcalfe’s Law to sell his customers\u003c/em\u003e \u003cem\u003eand motivate his salespeople\u003c/em\u003e. It’s a powerful example to Founders of how an understanding of network effects can help you sell your vision.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Critics have declared Metcalfe’s law, which states that the value of a network grows as the square of the number of its users, is a gross overestimation of the network effect, but nobody has tested the law with real data. Using a generalization of the sigmoid function called the netoid, Ethernet’s inventor and the law’s originator models Facebook user growth over the past decade and fits his law to the associated revenue.” \u0026#8211; 26\u003c/li\u003e\n\u003cli\u003e“Nobody (including me) has ever made the case for or against Metcalfe’s law with real data. “ \u0026#8211; 26\u003c/li\u003e\n\u003cli\u003e“I have modeled Facebook user growth over the last decade and fitted Metcalfe’s law to associated revenue, a surrogate of Facebook’s network value.” \u0026#8211; 26\u003c/li\u003e\n\u003cli\u003e“During a presentation to the 3Com sales force, I projected a 35-mm slide with the graph in Figure 2. I argued that if a network is too small, its cost exceeds its value; but if a network gets large enough to achieve critical mass, then the sky’s the limit” \u0026#8211; 28\u003c/li\u003e\n\u003cli\u003e“the 3Com sales force went back out into the field determined to get their customers’ Ethernets above critical mass, which we hoped to be about 30 nodes” \u0026#8211; 28\u003c/li\u003e\n\u003cli\u003e“Suspecting that not all network connections are of equal value and referring to Zipf’s law, Odlyzko and his colleagues countered—in what I will call Odlyzko’s law—that the growth in value of a network is approximately N × ln(N).” \u0026#8211; 29\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e18. \u003ca href=\"http://tomtunguz.com/saas-enabled-marketplace-data-advantage/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eData Network Effects In SaaS Enabled Marketplaces \u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eTomasz Tunguz, 2015\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/SEMS-1.png\" alt=\"Tomasz Tunguz's Data \u0026amp; Transaction Flow in SEMs diagram\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn this blog post, venture capitalist \u003ca href=\"https://twitter.com/ttunguz\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eTomasz Tunguz\u003c/a\u003e describes four key advantages enjoyed by software-enabled marketplaces that allow them to collect a high volume of valuable data and get a \u003ca href=\"https://www.nfx.com/post/network-effects-manual#data-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003edata network effect\u003c/a\u003e going.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nValuable insights for marketplace Founders on how best to leverage their data.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“SaaS Enabled Marketplaces (SEM’s) benefit from a unique advantage in their go-to-market. They have a panoptic view of their market place [sic], which over time provides them an unassailable competitive advantage.”\u003c/li\u003e\n\u003cli\u003e“SEMs provide software to suppliers and consumers, and then make a market between them.”\u003c/li\u003e\n\u003cli\u003e“The first SEMs flourished in advertising. Google manages one of the world’s largest advertising market places.”\u003c/li\u003e\n\u003cli\u003e“Because SEMs deploy SaaS to both the supply side and the demand side, these companies can develop an exceptional understanding of their market.”\u003c/li\u003e\n\u003cli\u003e“SEMs understand the supply/demand curve at every second.”\u003c/li\u003e\n\u003cli\u003e“SEMs understand the operational excellence of their suppliers\u0026#8230;This data enables the marketplace to amass census scale data on supplier performance, granular to the type of service rendered. The SEM can better qualify and match supply and demand”\u003c/li\u003e\n\u003cli\u003e“The accumulated data on both consumer demand and supplier performance compounds into a unique data asset that erects a moat around the business.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e19. \u003ca href=\"https://a16z.com/2016/08/01/network-effects-taxonomy/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eA16z Podcast: Not all Network Effects Are Created Equal\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eWith James Currier (Managing Partner, \u003ca href=\"https://content.nfx.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX\u003c/a\u003e) \u0026amp; Anu Hariharan\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nNetwork effects experts \u003ca href=\"https://twitter.com/JamesCurrier\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eJames Currier\u003c/a\u003e (Managing Partner, \u003ca href=\"https://content.nfx.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX\u003c/a\u003e) and \u003ca href=\"https://twitter.com/anuhariharan\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eAnu Hariharan\u003c/a\u003e (formerly a16z, now Partner @ Y Combinator) recap the history, evolution, and taxonomy of network effects.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters \u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eThere are many gems here about the big network effects success stories, and interesting insights into why network effects are so powerful a defensibility for technology in particular. It’s also a good recap of network effects content found in the NFX Manual and NFX Bible, although in podcast form.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Network effects are the only defensibilities native to the Internet era and therefore they’re the most powerful” \u0026#8211; James Currier\u003c/li\u003e\n\u003cli\u003e“Facebook is not valuable if you’re the only user on the platform… compared to phones or ethernet. With a piece of hardware there was more friction to adopt the hardware.” \u0026#8211; Anu Hariharan\u003c/li\u003e\n\u003cli\u003e“Network effects are native to technology in the sense that the technology wants to connect. Every ethernet switch connects to every ethernet switch. Mobile devices connect to mobile devices. Ever since the 60s when we started using chips it was endemic to these technologies that they wanted to be connected, and once connected, they become networks.” \u0026#8211; James Currier\u003c/li\u003e\n\u003cli\u003e“Facebook might be around in 10 years or it might not be, but it’s pretty clear that messaging will be around” \u0026#8211; James Currier\u003c/li\u003e\n\u003cli\u003e“Not all marketplaces have network effects, but they all have potential [depending on their stage of development]” \u0026#8211; Anu Hariharan\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e20. \u003ca href=\"https://hbr.org/2006/10/strategies-for-two-sided-markets\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eStrategies for Two-Sided Markets\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003e\u003ca href=\"https://twitter.com/g2parker?lang=en\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eGeoffrey Parker\u003c/a\u003e, \u003ca href=\"https://twitter.com/InfoEcon?lang=en\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMarshall W. Van Alstyne\u003c/a\u003e, and \u003ca href=\"https://twitter.com/teisenmann?lang=en\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThomas R. Eisenmann\u003c/a\u003e, \u003cem\u003eHarvard Business Review\u003c/em\u003e, 2006\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nAn analysis of two-sided networks focusing on how to navigate the complexity of multi-sidedness in the optimal way.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFounders building 2-sided platforms, marketplaces, or any other business that have to handle supply and demand dynamics will find actionable tactics in this article.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Platforms catalyze a virtuous cycle: More demand from one user group spurs more from the other.” \u0026#8211; pp.1\u003c/li\u003e\n\u003cli\u003e\u0026#8220;The key challenge? Get pricing right: \u0026#8216;Subsidize\u0026#8217; one user group while charging the other a premium for access to the subsidized group. Adobe’s Acrobat PDF market comprises document readers and writers. Readers pay nothing for Acrobat software. Document producers, who prize this 500- million-strong audience, pay $299.” \u0026#8211; pp. 1\u003c/li\u003e\n\u003cli\u003e“If you seize a platform opportunity but don’t get it right the first time, someone else will.” \u0026#8211; pp. 1\u003c/li\u003e\n\u003cli\u003ePricing strategies: “Subsidize quality- and price-sensitive users\u0026#8221; or secure “marquee” users’ exclusive participation in your platform [i.e. provide reasons not to multi-tenant for the most important users]\u0026#8221; \u0026#8211; pp. 1\u003c/li\u003e\n\u003cli\u003e“Products and services that bring together groups of users in two-sided networks are platforms. They provide infrastructure and rules that facilitate the two groups’ transactions and can take many guises” \u0026#8211; pp. 3\u003c/li\u003e\n\u003cli\u003eWith two-sided network effects, the platform’s value to any given user largely depends on the number of users on the network’s other side” \u0026#8211; pp. 3\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e21. \u003ca href=\"https://andrewchen.co/marketplace-startups-best-essays/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eRequired reading for marketplace startups: The 20 best essays\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eAndrew Chen, published on Twitter\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nA great anthology resource on marketplaces from \u003ca href=\"https://twitter.com/andrewchen\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eAndrew Chen\u003c/a\u003e, one of the most prolific writers on growth, formerly of Uber and currently a General Partner at Andreessen Horowitz.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis is a great list of the best articles for Founders discussing real world, applied approaches to building marketplaces. It includes the NFX essay on \u003ca href=\"https://www.nfx.com/post/10-years-about-market-networks\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMarket Networks\u003c/a\u003e. Since Andrew published the list, NFX has subsequently published \u003ca href=\"https://www.nfx.com/post/19-marketplace-tactics-for-overcoming-the-chicken-or-egg-problem\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003e19 Tactics to Solve the Chicken-or-Egg Problem\u003c/a\u003e and the \u003ca href=\"https://www.nfx.com/post/the-nfx-marketplace-scorecard\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX Marketplace Scorecard\u003c/a\u003e which we would also consider essential marketplace reading.\u003c/p\u003e\n\u003ch3\u003e22. \u003ca href=\"https://hbr.org/2016/04/pipelines-platforms-and-the-new-rules-of-strategy\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePipes, Platforms, and the New Rules of Strategy\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eMarshall W. Van Alstyne, Geoffrey G. Parker, and Sangeet Paul Choudary, \u003cem\u003eHarvard Business Review\u003c/em\u003e, 2016\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis article introduces a more nuanced framework for understanding platforms, in which the authors propose 4 types of “players” in a platform ecosystem: owners (e.g. Google), providers (e.g. Samsung), producers (e.g. Android app developers), and consumers (e.g. Android phone consumers). It contrasts the “pipeline” business model that dominated traditional industries with the more dynamic platform model common in tech and shows how the rise of network effects has upended the old rules of strategy that used to apply in supply-side industrial economies.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nVan Alstyne et. al. make clear just how dominant network effects are as a defensibility in the digital age. As the authors point out, it took less than 8 years for Apple and Google to demolish the entrenched market positions of Nokia, Motorola, LG and other mobile manufacturers by leveraging a 2-sided platform network effect via iOS and Android. Brand and scale were not enough to defend against a powerful 2-sided network effect. Although the authors conflate platforms with all 2-sided networks, they get the essential point right by compellingly showing the hierarchy of defensibilities with examples and data.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“In 2007 the five major mobile-phone manufacturers—Nokia, Samsung, Motorola, Sony Ericsson, and LG—collectively controlled 90% of the industry’s global profits. That year, Apple’s iPhone burst onto the scene and began gobbling up market share. By 2015 the iPhone singlehandedly generated 92% of global profits, while all but one of the former incumbents made no profit at all.”\u003c/li\u003e\n\u003cli\u003e“Apple conceived the iPhone and its operating system as more than a product or a conduit for services. It imagined them as a way to connect participants in two-sided markets—app developers on one side and app users on the other—generating value for both groups. As the number of participants on each side grew, that value increased—a phenomenon called \u0026#8216;network effects,\u0026#8217; which is central to platform strategy.”\u003c/li\u003e\n\u003cli\u003e“Information technology has profoundly reduced the need to own physical infrastructure and assets. IT makes building and scaling up platforms vastly simpler and cheaper, [and] allows nearly frictionless participation that strengthens network effects”\u003c/li\u003e\n\u003cli\u003e“Pipeline businesses create value by controlling a linear series of activities—the classic value-chain model. Inputs at one end of the chain (say, materials from suppliers) undergo a series of steps that transform them into an output that’s worth more: the finished product. “\u003c/li\u003e\n\u003cli\u003e“The competitive forces described by Michael Porter… still apply. But on platforms these forces behave differently, and new factors come into play.”\u003c/li\u003e\n\u003cli\u003e“The engine of the industrial economy was, and remains, supply-side economies of scale… The driving force behind the internet economy, conversely, is demand-side economies of scale, also known as network effects.”\u003c/li\u003e\n\u003cli\u003e“The five forces model doesn’t factor in network effects and the value they create. It regards external forces as \u0026#8216;depletive,\u0026#8217; or extracting value from a firm, and so argues for building barriers against them”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch2\u003ePart III: Other Defensibilities\u003c/h2\u003e\n\u003cp\u003eWe believe that for startup Founders, network effects are the most important defensibilities because they are native to the internet and because of the evidence we see: \u003ca href=\"https://www.nfx.com/post/70-percent-value-network-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enetwork effects have accounted for 70% of all value created in tech since 1994\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003eAnd in the digital world, there are three other defensibilities which also remain: brand, embedding, and scale. This section of the archive brings together sources written by investors from James Currier to Warren Buffet discussing the importance and nuances of defensibilities — a concept entrepreneurs must grasp to succeed in the digital world.\u003c/p\u003e\n\u003ch3\u003e23. \u003ca href=\"https://techcrunch.com/2016/09/15/defensibility-creates-the-most-value-for-founders/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eDefensibility Creates the Most Value For Founders\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eJames Currier (Managing Partner, \u003ca href=\"https://content.nfx.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX\u003c/a\u003e), \u003cem\u003eTechCrunch\u003c/em\u003e, 2015\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Defensibility-Graph-1.png\" alt=\"Defensibility vs. Valuation\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIf you haven’t read NFX’s original essay on defensibility, it’s a good place to start. In it, we explain why defensibilities create the most valuable companies, and why competitive advantages (while necessary) can only get you so far. We also point out that old defensibilities — access to raw materials, location, regulation, etc— apply less in a digital context, leaving just four defensibilities in the digital age: \u003ca href=\"https://www.nfx.com/post/network-effects-manual\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003enetwork effects\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/post/network-effects-bible#scale-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003escale\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/post/network-effects-bible#brand\" data-rt-link-type=\"external\"\u003ebrand\u003c/a\u003e, and \u003ca href=\"https://www.nfx.com/post/network-effects-bible#embedding\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eembedding\u003c/a\u003e.\u003c/p\u003e\n\u003cp\u003e\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Founders.png\" alt=\"Founders who read this will immediately feel the necessity of having a defensibility strategy as soon as possible.\" /\u003e\u003c/p\u003e\n\u003cp\u003e‍\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFounders who read this will immediately feel the necessity of having a defensibility strategy as soon as possible — the sooner, the better. Even Founders with a passing familiarity with the concepts will find it a worthwhile read. The discussion of the different competitive advantages, from speed to capital, can also help early-stage Founders decide where to focus their efforts.\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Three-Circles-1.png\" alt=\"Four types of defensibility: network effects, scale, brand, and embedding.\" /\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“If I have a choice, I’d rather start a business where I know if it works, it will be defensible… that I can really protect it from competition. For a long time.”\u003c/li\u003e\n\u003cli\u003e“Nearly all of the massive returns to you and your investors — the 100X or 500X returns — come from businesses that have long-term defensibility.”\u003c/li\u003e\n\u003cli\u003e“In the old days, the business literature listed many ways to create defensibility: unique access to raw materials, favorable geographic location, government regulations like tariffs, patents and licenses, etc.”\u003c/li\u003e\n\u003cli\u003e“Network effects have emerged as the native defense in the digital world.”\u003c/li\u003e\n\u003cli\u003e“‘Competitive advantages’ help your company become successful. ‘Defensibility’ helps you stay there.”\u003c/li\u003e\n\u003cli\u003eCompetitive advantages include: speed, capital, team quality, content, buzz, relationships, proximity to Silicon Valley, and patents.\u003c/li\u003e\n\u003cli\u003e“If you build a business with good competitive advantages, your value grows linearly as you grow revenues.”\u003c/li\u003e\n\u003cli\u003e“If you’re able to move past competitive advantages to true defensibility — to really being able to protect your business from competition — your value grows exponentially.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e24. \u003ca href=\"https://buffett.cnbc.com/video/1995/05/01/morning-session---1995-berkshire-hathaway-annual-meeting.html?\u0026amp;start=6671\u0026amp;end=7022\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eEconomics of the Moat and the Castle\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eWarren Buffett, \u003cem\u003eMorning Session \u0026#8211; 1995 meeting (section 25)\u003c/em\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn this 1995 video-recorded conversation with Charlie Munger, \u003ca href=\"https://twitter.com/WarrenBuffett\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eWarren Buffett\u003c/a\u003e speaks about company defensibility. He coins the term “economic moats” in referring to a business’s defensibilities, and explains how he sees defensibility as the fundamental “secret” to a company\u0026#8217;s success.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis is an interesting early formulation of defensibility theory by one of the world’s most influential and successful investors, which paved the way for how people would think about defensibility and its importance for years to come.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003eQ: “what are the fundamental rules of economics you used to make money for Berkshire?” A: “ the most important thing you can — you know, what we’re trying to do is we’re trying to find a business with a wide and long-lasting moat around it… And in essence, that’s what business is all about.”\u003c/li\u003e\n\u003cli\u003e“What we\u0026#8217;re trying to find is a business that, for one reason or another — it can be because it’s the low-cost producer in some area\u0026#8230; it could be because of its position in the consumers’ mind [i.e. \u003cstrong\u003ebrand\u003c/strong\u003e], it can be because of a technological advantage, or any kind of reason at all, that it has this moat around it.”\u003c/li\u003e\n\u003cli\u003e“all moats are subject to attack in a capitalistic system, so everybody is going to try and … figure out how to get to it.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e25. \u003ca href=\"https://hbr.org/1979/03/how-competitive-forces-shape-strategy\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eHow Competitive Forces Shape Strategy\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eMichael E. Porter, \u003cem\u003eHarvard Business Review\u003c/em\u003e, 1979\u003c/p\u003e\n\u003cp\u003e\u003ca href=\"https://hbr.org/1979/03/how-competitive-forces-shape-strategy\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"ext-link\"\u003e\u003cbr /\u003e\n\u003cimg src=\"https://content.nfx.com/wp-content/uploads/2019/07/Pathways-1.png\" alt=\"Michael Porter Five Forces Model\" /\u003e\u003cbr /\u003e\n\u003c/a\u003e\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis influential essay, commonly known as the “Five Forces Model,” outlines the various competitive forces that shape different industries, and relates those forces to the potential profitability of companies operating in markets. Porter classifies competitive forces into 5 broad camps: the threat of new entrants, bargaining power of suppliers, bargaining power of customers, threat of substitute products/services, and internal competition (“jockeying for position among current competitors”).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis article provides insight into the relationship between company defensibility and profitability within the larger ecosystem of an industry. It also accurately identifies two of the defensibilities that would persist into the internet age: scale and brand. However, because it was written before the advent of the internet economy, the five forces model doesn’t sufficiently take network effects into account. Later, work from other HBS professors would update this perspective — see the \u003ca href=\"https://www.nfx.com/post/network-effects-archives#12-pipes-platforms-and-the-new-rules-of-strategy\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003ePipes to Platforms model\u003c/a\u003e (Van Alstyne, Parker, and Choudary, 2016).\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“The essence of strategy formulation is coping with competition.”\u003c/li\u003e\n\u003cli\u003e“Intense competition in an industry is neither coincidence nor bad luck.”\u003c/li\u003e\n\u003cli\u003e“In the fight for market share, competition is not manifested only in the other players. Rather, competition in an industry is rooted in its underlying economics.”\u003c/li\u003e\n\u003cli\u003e“The state of competition in an industry depends on five basic forces… The collective strength of these forces determines the ultimate profit potential of an industry.”\u003c/li\u003e\n\u003cli\u003e“Whatever their collective strength, the corporate strategist’s goal is to find a position in the industry where his or her company can best defend itself against these forces or can influence them in its favor”\u003c/li\u003e\n\u003cli\u003e“Every industry has an underlying structure, or a set of fundamental economic and technical characteristics, that gives rise to these competitive forces.”\u003c/li\u003e\n\u003cli\u003e“The seriousness of the threat of entry depends on the barriers present and on the reaction from existing competitors that entrants can expect.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e26. \u003ca href=\"http://abovethecrowd.com/2011/05/24/all-revenue-is-not-created-equal-the-keys-to-the-10x-revenue-club/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eAll Revenue is Not Created Equal\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBill Gurley, \u003cem\u003eAbove the Crowd\u003c/em\u003e\u003cstrong\u003e, \u003c/strong\u003e2011\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn this classic essay, \u003ca href=\"https://twitter.com/bgurley\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eBill Gurley\u003c/a\u003e discusses the various factors that contribute to how companies are valued against their revenue, or their “price/revenue” multiple. He provides a scorecard of 10 business characteristics that impact a company’s likelihood of making it into what he calls the “10x+ price/revenue multiple club”. He includes 3 of the 4 defensibilities — network effects, embedding, and scale — in his scorecard, and also points out that, of these, network effects are the most powerful.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFounders looking to understand how investors value companies and what draws their interest should give this essay a thorough read. It’s an excellent framework and comes from one of the best in the business. Beyond explaining nuances of different defensibilities (what Bill Gurley calls “competitive advantages”), it also contains pragmatic nuggets about what to watch out for in terms of customer behavior, market fragmentation, gross margin, and predictability of forward revenue if you’re looking to build a valuable company.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“By far, the most critical characteristic that separates high multiple companies from low multiple companies is competitive advantage…How easy is it for someone else to provide the same product or service that you provide?”\u003c/li\u003e\n\u003cli\u003e“If high price/revenue multiple companies have wide moats or strong barriers to entry, then the opposite is also true. Companies with little to no competitive advantage, or companies with relatively low barriers to entry, will struggle to maintain above-average price/revenue multiples”\u003c/li\u003e\n\u003cli\u003e“No discussion of competitive advantages and barriers to entry is complete without a nod to perhaps the \u003cstrong\u003estrongest economic moat of all, network effects.\u003c/strong\u003e”\u003c/li\u003e\n\u003cli\u003e“Second, networks effects are discussed way more than they exist. Many things people identify as network effects are merely economies of scale, which are not nearly as powerful.“\u003c/li\u003e\n\u003cli\u003eSaaS are favored “for the same reason that investors favor companies with sustainable competitive advantages, investors favor pricing models that provide a high level of predictability and consistency in the future.” e.g. \u003ca href=\"https://www.nfx.com/post/network-effects-bible#embedding\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eembedding\u003c/a\u003e\u003c/li\u003e\n\u003cli\u003e“Investors love companies with scale\u003cstrong\u003e.\u003c/strong\u003e What this means is that investors love companies where, all things being equal, higher revenues create higher profit margins.”\u003c/li\u003e\n\u003cli\u003e“In order to measure how a business is scaling, many investors look at marginal incremental profitability.”\u003c/li\u003e\n\u003cli\u003e“you would rather have a highly fragmented customer base versus a highly concentrated one\u0026#8230; You also have an obvious issue if your top 2-5 customers can organize against you. This will severely limit pricing power. “\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e27. \u003ca href=\"https://www.nfx.com/post/reinforcement-building-iconic-tech-companies\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eReinforcement: The Hidden Key to Building Iconic Tech Companies\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eJames Currier (Managing Partner, \u003ca href=\"https://content.nfx.com/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eNFX\u003c/a\u003e), 2018\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nExpanding on our previous writing on defensibility and network effects, we explore the concept of reinforcement, i.e., the network effects of defensibilities. The observation at the heart of reinforcement is that the more defensibilities you add to your company, the more powerful all your other defensibilities become — just as the different parts of a castle work to reinforce one another, making the whole much more formidable than the sum of its parts.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nOne of the key observations of this essay for Founders is that companies with core network effects are the easiest to reinforce. That is, they are typically the quickest to start benefiting from the compounding returns of multiple defensibities. We also discuss how companies like Amazon, Uber, and Facebook — all of which have multiple defensibilities — made an intentional effort to keep layering on more defensibilities throughout their lifespan.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Every iconic company to come out of Silicon Valley in the last 25 years has done the same three things: product-market fit, rapid growth, and reinforcement.”\u003c/li\u003e\n\u003cli\u003e“The sooner a company starts to reinforce, the greater its chances of success.”\u003c/li\u003e\n\u003cli\u003e“whenever a company adds a new defensibility… its existing defensibilities become even more powerful.”\u003c/li\u003e\n\u003cli\u003e“Any type of defensibility will have a reinforcement effect on all the others, but network effects have the most dramatic impact. This is why companies that start out with core network effects — network effects that are integral to a company’s core business, not arising from features added later — are the easiest to reinforce. It\u0026#8217;s also why we think of reinforcement as the network effect of network effects.”\u003c/li\u003e\n\u003cli\u003e“Though it may seem like a product of luck from the outside, reinforcement requires deliberate effort.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e28. \u003ca href=\"https://avc.com/2014/07/the-dentist-office-software-story/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Dentist Office Software Story\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eFred Wilson, \u003cem\u003eAVC\u003c/em\u003e, 2014\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nA fictional but revealing anecdote by venture capitalist \u003ca href=\"https://twitter.com/fredwilson\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eFred Wilson\u003c/a\u003e that brings home how lethal it is for Founders not to have a defensibility strategy, and how almost any tech product can become a commodity over time if not properly defended.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nFred Wilson says that he realized early on that he didn’t want to invest in commodity software, and so he asked himself “what will provide defensibility” for the software he chose to invest in? He concluded, correctly, that networked products are the least vulnerable to commoditization and therefore the most worthy of investment. Fred is also shrewd here in pointing out that network effects apply to enterprise products as well as consumer products.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“This story is designed to illustrate the fact that software alone is a commodity. There is nothing stopping anyone from copying the feature set, making it better, cheaper, and faster.”\u003c/li\u003e\n\u003cli\u003e“We asked ourselves, \u0026#8216;what will provide defensibility\u0026#8217; and the answer we came to was networks of users, transactions, or data inside the software.”\u003c/li\u003e\n\u003cli\u003e“We felt that if an entrepreneur could include something other than features and functions in their software, something that was not a commodity, then their software would be more defensible.”\u003c/li\u003e\n\u003cli\u003e“That led us to social media, to Delicious, Tumblr, and Twitter. And marketplaces like Etsy, Lending Club, and Kickstarter. And enterprise oriented networks like Workmarket, C2FO, and SiftScience.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e29. \u003ca href=\"https://stratechery.com/2018/amazon-go-and-the-future/\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eAmazon Go and the Future\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBen Thompson, \u003cem\u003eStratechery\u003c/em\u003e, 2018\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nScale, as a function of spreading fixed costs and low marginal costs, is a basic concept from the industrial era — but it still applies to tech companies, which benefit from the very low marginal cost of software. Using Amazon as a case study, in this essay Stratechery’s \u003ca href=\"https://twitter.com/benthompson\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eBen Thompson\u003c/a\u003e explores the mechanics of \u003ca href=\"https://www.nfx.com/post/the-network-effects-bible/#scale-effects\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003escale effects\u003c/a\u003e, providing a simplified, basic, and current description of how scale defensibility works.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It’s Relevant\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis essay explains the unique scale advantages enjoyed by tech companies, and the exact reasons why scale can be such an effective defensibility. Thompson shows that, especially with tech, low marginal costs mean that margins actually scale along with revenue — so that an incumbent with scale effects enjoys much more profitability than new entrants.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“To understand the economics of tech companies one must understand the difference between fixed and marginal costs”\u003c/li\u003e\n\u003cli\u003eMarginal costs: “costs increase in line with revenue. Fixed costs, on the other hand, have no relation to revenue.”\u003c/li\u003e\n\u003cli\u003e“R\u0026amp;D is so important to tech company profitability: while digital infrastructure obviously needs to be maintained, by-and-large the investment reaps dividends far longer than the purchase of any physical good. “\u003c/li\u003e\n\u003cli\u003e“A huge amount of fixed costs up front is overwhelmed by the ongoing ability to make money at scale; to put it another way, tech companies combine fixed costs with marginal revenue opportunities, such that they make more money on additional customers without any corresponding rise in costs.”\u003c/li\u003e\n\u003cli\u003e“the economics of software: massive fixed costs, and effectively zero marginal costs”\u003c/li\u003e\n\u003cli\u003e“network effects, supercharged by the ability to scale for free, are these companies’ moats.”\u003c/li\u003e\n\u003cli\u003e“Technology like Amazon Go is the ultimate expression of capital: invest massive amounts of money up front in order to reap effectively free returns at scale”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e30. \u003ca href=\"https://www.ben-evans.com/benedictevans/2017/10/12/scale-wetxp\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eThe Scale of Tech Winners\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eBenedict Evans, 2017\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary \u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThis article discusses scale in the context of modern tech giants like Google, Facebook, Amazon and Apple. It explains how scale has enabled them to build secondary competitive advantages, such as the ability to conduct large experimental projects “without betting the company” — an important moat because it allows these companies “to disrupt themselves”.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nThe relative decline of the once dominant Microsoft after the 1990s and the even more precipitous declines of AOL, Myspace, and Yahoo show that even companies with strong scale and network effects are still vulnerable to new waves of technology which allow them to be disrupted. \u003ca href=\"https://twitter.com/benedictevans\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eBenedict Evans\u003c/a\u003e’ analysis is important in showing how companies can leverage existing competitive advantages to anticipate future threats — and how defensibilities, if married to the proper strategy, can endure the threat of disruption.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Google, Apple, Facebook \u0026amp; Amazon (GAFA) are 3x the scale of Wintel [Windows + Intel combined]\u0026#8230; They have far more employees, and they invest far more.”\u003c/li\u003e\n\u003cli\u003e“Being a big tech company means something different now to in the past.”\u003c/li\u003e\n\u003cli\u003e“Scale means these companies can do a lot more. They can make smart speakers and watches and VR and glasses, they can commission their own microchips, and they can think about upending the $1.2tr car industry.”\u003c/li\u003e\n\u003cli\u003e“If you’re riding the smartphone supply chain cornucopia but can’t construct a story further up the stack, around cloud, software, ecosystem or network effects, you’re just another commodity widget maker.”\u003c/li\u003e\n\u003cli\u003e“The shift to mobile was a fundamental structural threat that unbundled Facebook \u0026#8211; the founder spent over 10% of the company to buy the most successful unbundlers and, as importantly, didn’t smother them after he’d bought them”\u003c/li\u003e\n\u003cli\u003e“‘Disruption’ doesn’t work if everyone’s read the book, and everyone has. This, to repeat, is compounded by scale”\u003c/li\u003e\n\u003cli\u003e“the new platforms have created unprecedented opportunities \u0026#8211; 3bn smartphone users today are an unprecedented ‘white space’ for company creation. But they often expand into that space themselves.”\u003c/li\u003e\n\u003c/ul\u003e\n\u003ch3\u003e31. \u003ca href=\"https://news.greylock.com/beyond-network-effects-digging-moats-in-non-networked-products-b6c10de43a7b\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eBeyond Network Effects: Digging Moats in Non-Networked Products\u003c/a\u003e\u003c/h3\u003e\n\u003cp\u003eMatt Heiman, \u003cem\u003eGreylock\u003c/em\u003e, 2018\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSummary\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nIn this article, CRV investor \u003ca href=\"https://twitter.com/Matt_Heiman\" target=\"_blank\" rel=\"noopener noreferrer\" data-rt-link-type=\"external\"\u003eMatt Heiman\u003c/a\u003e discusses each of the three non-network effects defensibilities — scale, brand, and embedding (he bundles embedding under “switching costs”). The article walks through the nuances of defensibility for non-networked products.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eWhy It Matters\u003c/em\u003e\u003c/strong\u003e\u003cbr /\u003e\nHeiman breaks down three reasons why scale makes companies more defensible: negotiating leverage, amortization of fixed assets, and product density. He also thinks that brand has become even more important in the digital age because the internet “elevates the importance of trust”. What\u0026#8217;s more, his analysis of embedding is spot on — he points out that an embedding strategy is typical of enterprise software products like Salesforce. SaaS business models often rely on embedding themselves into customer operations and incur high switching costs, making it hard for competitors to gain market share.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003e\u003cem\u003eSelected Quotations\u003c/em\u003e\u003c/strong\u003e\u003c/p\u003e\n\u003cul\u003e\n\u003cli\u003e“Virtually all startup pitches include a conversation about competitive advantage or “moats,” and rightfully so; these moats are what ultimately allow companies to become compounding franchises and accrue outsized profits over the long run.”\u003c/li\u003e\n\u003cli\u003e“If a startup can architect network effects into the product or business model, that is worth its weight in gold”\u003c/li\u003e\n\u003cli\u003e“However, there are real world problems to be solved and businesses to solve them which… will not be candidates for a network effect approach.”\u003c/li\u003e\n\u003cli\u003e“the internet magnifies the importance of scale effects in many ways; most obviously by removing the constraint of geography and reducing the capital intensity of growth.”\u003c/li\u003e\n\u003cli\u003e“Economies of scale do not affect all industries equally. In fact, some industries exhibit dis-economies of scale”\u003c/li\u003e\n\u003cli\u003e“Brand is one of the longest standing sources of defensibility. I believe that the internet has increased, rather than decreased, the importance of brand.”\u003c/li\u003e\n\u003cli\u003e“some of the most successful startups have focused on creating a brand in a category where there was previously none.”\u003c/li\u003e\n\u003cli\u003e“Switching costs is the one-time inconvenience or expense a user incurs to change over from one product to another”\u003c/li\u003e\n\u003cli\u003e“Products that are used with high frequency tend to exhibit habit formation and once habit is formed, users are reluctant to switch.“\u003c/li\u003e\n\u003cli\u003e“This is a phenomenon whereby a product becomes integrated with a user’s other products and workflow. This type of moat is most often seen in enterprise software products; many enterprise software giants get their defensibility from high switching costs”\u003c/li\u003e\n\u003c/ul\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n\u003cp\u003e\u0026nbsp;\u003c/p\u003e\n","protected":false},"excerpt":{"rendered":"\u003cp\u003eSince the arrival of the internet, network effects have become the most important source of value creation in the networked economy. Companies built on top of network effects have become the domina","protected":false},"author":1,"featured_media":9867,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[80,89,91],"tags":[8],"acf":{"short_description":"Foundational reading for mastering how network effects work. 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Papers, articles, and books that have proved invaluable for building strong, highly defensible companies.\" /\u003e\n\u003cmeta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" /\u003e\n\u003clink rel=\"canonical\" href=\"https://content.nfx.com/post/network-effects-archives\" /\u003e\n\u003cmeta property=\"og:locale\" content=\"en_US\" /\u003e\n\u003cmeta property=\"og:type\" content=\"article\" /\u003e\n\u003cmeta property=\"og:title\" content=\"The NFX Archives: Foundations for Mastering Network Effects\" /\u003e\n\u003cmeta property=\"og:description\" content=\"Foundational reading for mastering how network effects work. Papers, articles, and books that have proved invaluable for building strong, highly defensible companies.\" /\u003e\n\u003cmeta property=\"og:url\" content=\"https://content.nfx.com/post/network-effects-archives\" /\u003e\n\u003cmeta property=\"og:site_name\" content=\"NFX\" /\u003e\n\u003cmeta property=\"article:publisher\" content=\"https://www.facebook.com/nfxsf/\" /\u003e\n\u003cmeta property=\"article:published_time\" content=\"2019-07-25T08:47:59+00:00\" /\u003e\n\u003cmeta property=\"article:modified_time\" content=\"2022-04-27T22:35:22+00:00\" /\u003e\n\u003cmeta property=\"og:image\" content=\"https://content.nfx.com/wp-content/uploads/2019/07/The-NFX-Archives.jpeg\" /\u003e\n\t\u003cmeta property=\"og:image:width\" content=\"1200\" /\u003e\n\t\u003cmeta property=\"og:image:height\" content=\"508\" /\u003e\n\t\u003cmeta property=\"og:image:type\" content=\"image/jpeg\" /\u003e\n\u003cmeta name=\"twitter:card\" content=\"summary_large_image\" /\u003e\n\u003cmeta name=\"twitter:creator\" content=\"@NFX\" /\u003e\n\u003cmeta name=\"twitter:site\" content=\"@NFX\" /\u003e\n\u003cmeta name=\"twitter:label1\" content=\"Written by\" /\u003e\n\t\u003cmeta name=\"twitter:data1\" content=\"NFX\" /\u003e\n\t\u003cmeta name=\"twitter:label2\" content=\"Est. reading time\" /\u003e\n\t\u003cmeta name=\"twitter:data2\" content=\"54 minutes\" /\u003e\n\u003cscript type=\"application/ld+json\" class=\"yoast-schema-graph\"\u003e{\"@context\":\"https://schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https://content.nfx.com/#website\",\"url\":\"https://content.nfx.com/\",\"name\":\"NFX\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https://content.nfx.com/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https://content.nfx.com/post/network-effects-archives#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https://content.nfx.com/wp-content/uploads/2019/07/The-NFX-Archives.jpeg\",\"contentUrl\":\"https://content.nfx.com/wp-content/uploads/2019/07/The-NFX-Archives.jpeg\",\"width\":1200,\"height\":508,\"caption\":\"The NFX Archives\"},{\"@type\":\"WebPage\",\"@id\":\"https://content.nfx.com/post/network-effects-archives#webpage\",\"url\":\"https://content.nfx.com/post/network-effects-archives\",\"name\":\"The NFX Archives: Foundations for Mastering Network Effects\",\"isPartOf\":{\"@id\":\"https://content.nfx.com/#website\"},\"primaryImageOfPage\":{\"@id\":\"https://content.nfx.com/post/network-effects-archives#primaryimage\"},\"datePublished\":\"2019-07-25T08:47:59+00:00\",\"dateModified\":\"2022-04-27T22:35:22+00:00\",\"author\":{\"@id\":\"https://content.nfx.com/#/schema/person/d3f37b0a88d9e43e60e44e6f71d2ed4a\"},\"description\":\"Foundational reading for mastering how network effects work. 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Tickle grew to the 18th largest website in the world with over 150 million registered users — before they were acquired in 2004 by Monster for $110 million. It was during this time that James realized the power of network effects as the core growth driver of both B2B and B2C successes across every vertical.\u003c/p\u003e\n\u003cp\u003eJames then co-founded three other successful companies – Wonderhill (online video games, merged with Kabam in 2010 which then sold for $800M), IronPearl (growth analytics SaaS, acquired by PayPal in 2013), and Jiff (enterprise healthcare software, raised $68M from Venrock, GE, J\u0026amp;J, merged with Castlight in 2017 — NASDAQ: CSLT).\u003c/p\u003e\n\u003cp\u003eAs a lifelong learner and developer of talent, James loves sharing wisdom among Founders. He speaks regularly at numerous industry conferences. He’s also been featured in Forbes, Fortune, Harvard Business Review, TechCrunch, and Silicon Valley Business Journal.\u003c/p\u003e\n\u003cp\u003e\u003cstrong\u003eInterests\u003c/strong\u003e\u003c/p\u003e\n\u003cp\u003eAdventure seeker who has sailed across both the North Atlantic and the South Pacific; father of 4 boys and married to the strongest woman in the world; musician and singer; fascinated by psychology and language; interested in innovative learning models and organizations for community development and networked ecosystems.\u003c/p\u003e\n","protected":false},"featured_media":18909,"template":"","acf":{"fallback_image":19378,"designation":"General Partner","add_social_media":[{"title":"Twitter","link":"https://twitter.com/jamescurrier"},{"title":"Signal","link":"https://signal.nfx.com/investors/james-currier"},{"title":"LinkedIn","link":"https://www.linkedin.com/in/jamescurrier"}],"essays":[96,17489,116,17157],"videos":[110,15266],"podcasts":[19523,19230,19155],"brieflink_referral_url":"https://brieflink.com/investors/james-currier?e=jc-essay\u0026utm_source=nfxessays","investments":[{"company_name":"Honeybook","initial_investment_stage":"Pre-seed, Seed"},{"company_name":"Firefly","initial_investment_stage":"Pre-seed, Seed"},{"company_name":"Incredible Health","initial_investment_stage":"Pre-seed"},{"company_name":"Mammoth Biosciences","initial_investment_stage":"Pre-seed, Seed"},{"company_name":"Moov.co","initial_investment_stage":"Seed"},{"company_name":"Doordash","initial_investment_stage":"Seed"},{"company_name":"Patreon","initial_investment_stage":"Series A"},{"company_name":"Outdoorsy","initial_investment_stage":"Pre-seed"}],"add_focus_areas":[{"focus-area":"Generative AI"},{"focus-area":"Marketplaces"},{"focus-area":"FinTech"},{"focus-area":"Gaming"},{"focus-area":"Bio"}],"top_investment_categories":"\u003ca href=\"https://www.nfx.com/generative-tech\"\u003eGenerative Tech\u003c/a\u003e\u003ca href=\"https://www.nfx.com/marketplaces\"\u003e, Marketplaces\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/fintech\"\u003eFintech\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/gaming\"\u003eGaming\u003c/a\u003e, \u003ca href=\"https://www.nfx.com/bio\"\u003eBio\u003c/a\u003e","headline":"5-time founder. 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It was during this time that James realized the power of network effects as the core growth driver of both B2B and B2C successes across every vertical.\u003c/p\u003e\r\n\r\n\u003cbr\u003e\r\n\u003cp\u003eJames then co-founded three other successful companies – Wonderhill (online video games, merged with Kabam in 2010 which then sold for $800M), IronPearl (growth analytics SaaS, acquired by PayPal in 2013), and Jiff (enterprise healthcare software, raised $68M from Venrock, GE, J\u0026amp;J, merged with Castlight in 2017 — NASDAQ: CSLT).\u003c/p\u003e\r\n\r\n\u003cbr\u003e\r\n\u003cp\u003eAs a lifelong learner and developer of talent, James loves sharing wisdom among Founders. He speaks regularly at numerous industry conferences. He’s also been featured in Forbes, Fortune, Harvard Business Review, TechCrunch, and Silicon Valley Business Journal.\u003c/p\u003e","experience":[{"title_":"Founding Partner ","company":"NFX Capital","date_range":"2017 - Present"},{"title_":"Co-Founder and Chairman","company":"Jiff Inc.","date_range":"2011 - 2017"},{"title_":"CEO \u0026 Co-Founder","company":"Ooga Labs","date_range":"2007 - 2010"},{"title_":"Co-Founder and CEO","company":"WonderHill","date_range":"2008 - 2011"},{"title_":"Venture Capital Associate","company":"Battery Ventures","date_range":"1994 - 1997"}],"education_and_affiliations":"\u003cp\u003eM.B.A., Harvard Business School\u003c/p\u003e\r\n\u003cp\u003eB.A., Princeton\u003c/p\u003e\r\n\u003cp\u003eHS, Phillips Exeter Academy\u003c/p\u003e\r\n\u003cp\u003eHenry Crown Fellow at the Aspen Institute\u003c/p\u003e","interests":"\u003cp\u003eAdventure seeker, has sailed across both the North Atlantic and the South Pacific; father of 4 boys; married to the strongest woman in the world; musician and singer; fascinated by psychology and language; interested in innovative learning models/organizations for community development and networked ecosystems.\u003c/p\u003e","marquee_text":"5-time founder · Expert on network effects · ","1-1_image":17393,"department":"investment","news_articles_ids":[19336,17928,17929],"company_slugs":[{"slug":"honeybook"},{"slug":"firefly"},{"slug":"incredible-health"},{"slug":"mammoth-biosciences"},{"slug":"moov"},{"slug":"doordash"},{"slug":"patreon"},{"slug":"outdoorsy"}],"grid_images":[18896,18945,18944]},"yoast_head":"\u003c!-- This site is optimized with the Yoast SEO plugin v18.3 - 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