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How do network effects apply here? Do you mean to refer to compounding growth? It's true that wealth begets wealth. Zuckerberg's kids are billionaires without
by staunch 4y ago
How do network effects apply here? Do you mean to refer to compounding growth?
It's true that wealth begets wealth. Zuckerberg's kids are billionaires without having to do anything. Bill Gates would've been rich even if he had not started Microsoft, just through inheritance.
But Steve Jobs led the creation of the most valuable company on the planet. There was no blocker to him being richer than Bill Gates or Elon Musk. Larry Ellison is among the richest people on the planet. John Carmack and Palmer Luckey have generational wealth.
Creating a massive company is what makes someone as rich as an Elon Musk or Bill Gates. They had more opportunity to create a massive company than a person from a lower class, but it's got nothing to do with network effects. The main driver of these people's massive fortunes is technology that scales globally.