What is the network effect?

Network Effect describes the phenomenon how the value of a good or service increases as more people start to use that good or service. Certain products only have value if a large number of people are using them. This phenomenon was first described by Theodore Vail in 1908.

‘Feedback theory loop’ Norbert Wiener.

A feedback loop is a concept found in systems theory. Feedback loops provide information to an organization about system successes and problems. Success results in a positive feedback loop and problems create a negative feedback loop.

What is the Dunbar number?

Robin Dunbar is a very smart man. An anthropologist and evolutionary psychologist, Dunbar’s fame largely focuses around a single number. 150. The theory of Dunbar’s Number posits that 150 is the number of individuals with whom any one person can maintain stable relationships.