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Doesn't this just mean that the vast majority of users don't care enough about these sorts of things? Doesn't that mean that the market is working? If switchin
by thegrimmest 2y ago
Doesn't this just mean that the vast majority of users don't care enough about these sorts of things? Doesn't that mean that the market is working?
If switching cost > perceived benefit why should we expect anything other than status quo? When a truly innovative platform that offers benefit > switching cost, users will naturally flock to it. We're already starting to see that with ChatGPT.
- MereInterest 2y ago> Doesn't this just mean that the vast majority of users don't care enough about these sorts of things? Doesn't that mean that the market is working? No. Network effects mean that there's not only a high cost of switching away from the largest network, but there's a high cost to use anything other than the largest network. When that bias exists, you cannot infer any preferences from market outcomes.
- thegrimmest 2y agoOK so innovators have to provide an option where: benefit > switching cost + network cost This has repeatedly been demonstrated as large networks have been disrupted. Folks switched away from MSN Messenger and MySpace didn't they?