Rare that a journalistic article about business and economics is mathematically competent. But here are the "intrinsic properties" of computer and internet innovations", at least according to The Observer's John Naughton today:
"They are: near-zero marginal costs (which confer massive advantages on early movers and investors); network effects (which lead to winner-takes-all outcomes, as has happened with search and social networking); the way in which online phenomena follow power law statistical distributions that apply when a few players capture the overwhelming bulk of the action, leaving everyone else scrabbling around in a "long tail"; and technical lock-in (of the kind that has enabled Amazon to exert an iron grip on cloud computing)."
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I'm sorry to have to say that the number of spam comment postings has required that we turn off anonymous comment posting. There's been a massive boom in what seems like computer-automated spam comments with links to web pages that advertise cheap, nasty, bad-for-you products, mostly cigarettes.
From now on, you'll have to be a registered user to comment on this blog.
If you had something you wanted to say, but really didn't want your name attached to it for some good reason, you should email Mick at mwomersley@unity.edu
I'll protect your confidentiality and post your comment for you.