by Charles Hugh Smith
Of Two Minds
All the incubator projects around the world are attempting to kickstart an entrepreneurial Network Effect.
We have all experienced The Network Effect: the more people who start using a service, the more valuable that service becomes to every user. Examples include the telephone, the Internet, and social media sites.
Each new user is only seeking to add value to their own life, but in joining the network, they add value to every user and the network.
As the network adds participants, it become more attractive to new users, and this increase in network value generates a positive feedback loop.