Centralised platforms have several problems:
They follow a predictable life cycle and try to recruit users to make their services more valuable.
Platforms are systems. When platforms move up the adoption S-curve, they grow their power over users and 3rd parties. But when they are at the top of the S-curve, they can really only grow by extracting data from users and competing with complements over audiences and profits.
Over time, the best entrepreneurs, developers and investors will tire of building on top of centralised platforms.
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