This situation reiterates the belief that Network Effects are the key to success.
The value or utility a user obtains from a good or service relies on the number of users of related products, which is a phenomenon known as a "network effect." The phrase "network effect" describes any circumstance in which the quantity of buyers, sellers, or users who utilize a platform, product, or service determines its worth. Positive network effects typically result in a user gaining more value from a product when other users join the same network.
The three primary types that can increase the number of users and worth of your product are direct, two-sided, and local network impacts.
Therefore, this situation reiterates the belief that Network Effects are a key to success.
For more information on Network effects, refer to the below link:
https://brainly.com/question/27597063
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