Are you familiar with the network effect? Whenever individuals gain from interactions with others, they tend to join larger groups so that they can interact with more people. This, in turn, makes existing members group better off since, with every new member, they can interact with one more person. This effect was initially discussed in the context of telephone networks but has become more pronounced in the digital economy. Microsoft DOS and then Windows became dominant platforms (initially riding on IBM PCs and clones) as they allowed people to take their work from home to office and exchange files with others. We see this in handheld devices where Apple IOS and Google’s Android are dominant operating systems.With the appearance of handheld devices, we have also seen the emergence of APPs – lightweight systems geared towards specific tasks, from providing a user interface with enterprise systems to games like Backgammon and Candy Crush.In this forum, share your thoughts on network effects and the app economyRequirements: 1 day
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