In class, we discussed how simplicity and open API were key factors in Facebook’s rise and domination of the social media arena. This article by The New York Times discusses how it is now the network effect which helps Facebook retain their position as the number one social media platform.
Although the benefits of network effects have been reduced for incumbents due to open API, Facebook remains competitive by copying attractive features from its less-established competitors. Over the years, Facebook has added the follower feature (copied from Twitter), live video (copied from Periscope), and most recently, Facebook Stories (copied from Snapchat).
However, users may end up benefitting from this as Facebook, with its large array of resources, developer networks, and deep investment in research, can advance these features and make them even better.
References: Manjoo, F. (2017, Apr 19). Why Facebook keeps beating every rival: It’s the network, of course. The New York Times, Retrieved from https://www.nytimes.com/2017/04/19/technology/facebook-snapchat-instagram-innovation.html?_r=0