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hey hodlbod, I think I found a little imprecision: > "Network effect" is the idea that a network's value does not grow linearly with the number of users, but quadratically with the number of connections between users. Let's say N is the number of users. Then the value of the network is proportional to N^2. However, from what you write it seems that the value is "quadratic with the number of connections". But the number of connections is already proportional to N^2, so that would imply something proportional to N^4. I would write: "Network effect" is the idea that a network's value does not grow linearly with the number of users, but quadratically, because what matters is the number of connections between users.