Snippet: Creating new Vs Cultivating existing networks

 

“Given the powerful network effects exhibited by properties such as Facebook, and the walled garden inside which these platforms exist…, one thing companies should be quick to recognize is that if they are investing any more money than $0 in building their own version of Facebook or LinkedIn, they’re making a terrible, terrible mistake. Instead, firms should focus on extending their own applications to benefit from existing networks that their employees, contemporaries and clients have already spent time cultivating.” 

 

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