That's the network effect, if one person has a telephone, it's useless. Two? still useless, 10? Getting a bit more useful but over there that thing has 1000 users, which is more useful than your 10-user phone. Bring those 1000 over to your "phone" and suddenly those 500 over there will want to switch too etc... maybe your "phone" isn't t…
That's the network effect, if one person has a telephone, it's useless. Two? still useless, 10? Getting a bit more useful but over there that thing has 1000 users, which is more useful than your 10-user phone. Bring those 1000 over to your "phone" and suddenly those 500 over there will want to switch too etc... maybe your "phone" isn't the best (VHS) and there is a better one (BETAMAX), but still you have the users so BETAMAX whatever! ;)
That's the network effect, if one person has a telephone, it's useless. Two? still useless, 10? Getting a bit more useful but over there that thing has 1000 users, which is more useful than your 10-user phone. Bring those 1000 over to your "phone" and suddenly those 500 over there will want to switch too etc... maybe your "phone" isn't the best (VHS) and there is a better one (BETAMAX), but still you have the users so BETAMAX whatever! ;)