A dynamic where each additional user makes the product more valuable for every other user, so growth compounds and late competitors struggle to catch up.
Meta's flagship app crossed 3 billion monthly active users in 2023, more than a third of humanity. The product itself is unremarkable, the moat is who else is on it. A new social app launching today competes not against Facebook's features but against the 30 high school friends, 12 cousins, and one ex who already live there.
