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Network Effects
In economics, a network effect (also called network externality or demand-side economies of scale) is the phenomenon by which the value or utility a user derives from a good or service depends on the number of users of compatible products. Network effects are typically positive, resulting in a given user deriving more value from a product as more users join the same network. The adoption of a product by an additional user can be broken into two effects: an increase in the value to all other users ( "total effect") and also the enhancement of other non-users' motivation for using the product ("marginal effect"). Network effects can be direct or indirect. Direct network effects arise when a given user's utility increases with the number of other users of the same product or technology, meaning that adoption of a product by different users is complementary. This effect is separate from effects related to price, such as a benefit to existing users resulting from price decreases as m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tencent QQ
Tencent QQ (), also known as QQ, is an instant messaging software service and web portal developed by the Chinese technology company Tencent. QQ offers services that provide online social games, music, shopping, microblogging, movies, and group and voice chat software. As of March 2022, there were 563.8 million monthly active QQ accounts. History Tencent QQ was first released in China in February 1999 under the name of OICQ ("Open ICQ", a reference to the early IM service ICQ). After the threat of a trademark infringement lawsuit by the AOL-owned ICQ, the product's name was changed to QQ (with "Q" and "QQ" used to imply "cute"). The software inherited existing functions from ICQ, and additional features such as software skins, people's images, and emoticons. QQ was first released as a " network paging" real-time communications service. Other features were later added, such as chatrooms, games, personal avatars (similar to "Meego" in MSN), online storage, and Internet dat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Metcalfe's Law
Metcalfe's law states that the value of a telecommunications network is proportional to the square of the number of connected users of the system (''n''2). First formulated in this form by George Gilder in 1993, and attributed to Robert Metcalfe in regard to Ethernet, Metcalfe's law was originally presented, c. 1980, not in terms of users, but rather of "compatible communicating devices" (e.g., fax machines, telephones). Only later with the globalization of the Internet did this law carry over to users and networks as its original intent was to describe Ethernet connections. Network effects Metcalfe's law characterizes many of the network effects of communication technologies and networks such as the Internet, social networking and the World Wide Web. Former Chairman of the U.S. Federal Communications Commission Reed Hundt said that this law gives the most understanding to the workings of the Internet. Metcalfe's Law is related to the fact that the number of unique possible co ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Metcalfe
Robert Melancton Metcalfe (born April 7, 1946) is an engineer and entrepreneur from the United States who helped pioneer the Internet starting in 1970. He co-invented Ethernet, co-founded 3Com and formulated Metcalfe's law, which describes the effect of a telecommunications network. Since January 2011, he has been Professor of Innovation and Entrepreneurship at The University of Texas at Austin. He is also the Murchison Fellow of Free Enterprise. Metcalfe has received various awards, including the IEEE Medal of Honor and National Medal of Technology and Innovation for his work developing Ethernet technology. In addition to his accomplishments, Metcalfe has made several predictions which failed to come to pass, separately forecasting the demise of the Internet, wireless networks, and open-source software during the 1990s. Early life Robert Metcalfe was born in 1946 in Brooklyn, New York. His father was a test technician who specialized in gyroscopes. His mother was a homemake ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bell System
The Bell System was a system of telecommunication companies, led by the Bell Telephone Company and later by the American Telephone and Telegraph Company (AT&T), that dominated the telephone services industry in North America for over one hundred years from its creation in 1877 until its antitrust breakup in 1983. The system of companies was often colloquially called Ma Bell (as in "Mother Bell"), as it held a vertical monopoly over telecommunication products and services in most areas of the United States and Canada. At the time of the breakup of the Bell System in the early 1980s, it had assets of $150 billion (equivalent to $ billion in ) and employed over one million people. Ever since the 1910s, American antitrust regulators had been observing and accusing the Bell System of abusing its monopoly power, and had brought legal action multiple times over the decades, until in 1974 the Antitrust Division of the U.S. Department of Justice brought a lawsuit against Be ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bell Telephone Company
The Bell Telephone Company, a common law joint stock company, was organized in Boston, Massachusetts, on July 9, 1877, by Alexander Graham Bell's father-in-law Gardiner Greene Hubbard, who also helped organize a sister company – the New England Telephone and Telegraph Company. The Bell Telephone Company was started on the basis of holding "potentially valuable patents", principally Bell's master telephone patent #174465. Upon its inception, the Bell Telephone Company was organized with Hubbard as "trustee", although he was additionally its ''de facto'' president, since he also controlled his daughter's shares by power of attorney, and with Thomas Sanders, its principal financial backer, as treasurer. The two companies merged on February 17, 1879, to form two new entities, the National Bell Telephone Company of Boston, and the International Bell Telephone Company, soon after established by Hubbard and which became headquartered in Brussels, Belgium.Huurdeman, Anton A''The Wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Telephone Cases
''The Telephone Cases'', 126 U.S. 1 (1888), were a series of US court cases in the 1870s and the 1880s related to the invention of the telephone, which culminated in the 1888 decision of the US Supreme Court upholding the priority of the patents belonging to Alexander Graham Bell. Those telephone patents were relied on by the American Bell Telephone Company and the Bell System although they had also acquired critical microphone patents from Emile Berliner. The objector (or plaintiff) in the notable Supreme Court case was initially the Western Union telegraph company, which was then a far-larger and better financed competitor than American Bell Telephone. Western Union advocated several more recent patent claims of Daniel Drawbaugh, Elisha Gray, Antonio Meucci and Philip Reis in a bid to invalidate Alexander Graham Bell's master and subsidiary telephone patents dating back to March 1876. Western Union's success would have immediately destroyed the Bell Telephone Company, and W ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Theodore Vail
Theodore Newton Vail (July 16, 1845 – April 16, 1920) was president of American Telephone & Telegraph between 1885 and 1889, and again from 1907 to 1919. Vail saw telephone service as a public utility and moved to consolidate telephone networks under the Bell system. In 1913 he oversaw the Kingsbury Commitment that led to a more open system for connection. Biography Early life and career Theodore was born on July 16, 1845, in Malvern, Ohio, and he was educated in Morristown, New Jersey. At first he studied medicine with his uncle. He also studied telegraphy. Success in the latter led him to go to New York, where he became manager of a local telegraphy office.Notable Vail Kin retrieved April 26, 1980 He then joined the staff of a superintendent of [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monopoly
A monopoly (from Greek el, μόνος, mónos, single, alone, label=none and el, πωλεῖν, pōleîn, to sell, label=none), as described by Irving Fisher, is a market with the "absence of competition", creating a situation where a specific person or enterprise is the only supplier of a particular thing. This contrasts with a monopsony which relates to a single entity's control of a market to purchase a good or service, and with oligopoly and duopoly which consists of a few sellers dominating a market. Monopolies are thus characterized by a lack of economic competition to produce the good or service, a lack of viable substitute goods, and the possibility of a high monopoly price well above the seller's marginal cost that leads to a high monopoly profit. The verb ''monopolise'' or ''monopolize'' refers to the ''process'' by which a company gains the ability to raise prices or exclude competitors. In economics, a monopoly is a single seller. In law, a monopoly is a busine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Positive Feedback
Positive feedback (exacerbating feedback, self-reinforcing feedback) is a process that occurs in a feedback loop which exacerbates the effects of a small disturbance. That is, the effects of a perturbation on a system include an increase in the magnitude of the perturbation. That is, ''A produces more of B which in turn produces more of A''.Keesing, R.M. (1981). Cultural anthropology: A contemporary perspective (2nd ed.) p.149. Sydney: Holt, Rinehard & Winston, Inc. In contrast, a system in which the results of a change act to reduce or counteract it has negative feedback. Both concepts play an important role in science and engineering, including biology, chemistry, and cybernetics. Mathematically, positive feedback is defined as a positive loop gain around a closed loop of cause and effect. That is, positive feedback is in phase with the input, in the sense that it adds to make the input larger. Positive feedback tends to cause system instability. When the loop gain is pos ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bandwagon Effect
The bandwagon effect is the tendency for people to adopt certain behaviors, styles, or attitudes simply because others are doing so. More specifically, it is a cognitive bias by which public opinion or behaviours can alter due to particular actions and beliefs rallying amongst the public. It is a psychological phenomenon whereby the rate of uptake of beliefs, ideas, fads and trends increases with respect to the proportion of others who have already done so. As more people come to believe in something, others also "hop on the bandwagon" regardless of the underlying evidence. Following others' actions or beliefs can occur because of conformism or deriving information from others. Much of the influence of the bandwagon effect comes from the desire to 'fit in' with peers; by making similar selections as other people, this is seen as a way to gain access to a particular social group. An example of this is fashion trends wherein the increasing popularity of a certain garment or styl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Demand
In economics, demand is the quantity of a good that consumers are willing and able to purchase at various prices during a given time. The relationship between price and quantity demand is also called the demand curve. Demand for a specific item is a function of an item's perceived necessity, price, perceived quality, convenience, available alternatives, purchasers' disposable income and tastes, and many other options. Factors influencing demand Innumerable factors and circumstances affect a consumer's willingness or to buy a good. Some of the common factors are: The price of the commodity: The basic demand relationship is between potential prices of a good and the quantities that would be purchased at those prices. Generally, the relationship is negative, meaning that an increase in price will induce a decrease in the quantity demanded. This negative relationship is embodied in the downward slope of the consumer demand curve. The assumption of a negative relationship is reaso ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
