The power of the network effect can be seen in technologies like America Online's Instant Messenger.
As a result, Hearn points out, just two individuals control more than 50% of the power of the network.
Facebook has done a good job of exploiting the power of the network, and it keeps innovating.
The real opportunity is to bring together the power of the network, TV delivered through that network and the power of exciting content," he said.
"The protocol will never be safe against attacks by a selfish mining pool that commands more than 33% of the total mining power of the network".
If the 20th century was shaped by people power, the 21st is already being moulded around the power of the network.
Asked whether the power of the network's incumbency led to the I.O.C.'s decision to choose NBC, Mr. Ebersol said: "We're a G.E. company.
The ODI will be designed around the power of the network effect and will be a focal point to convene, link, integrate and carry out Open Data exploitation.
"Gates saw software as a separate market from hardware before anyone else, but his great insight was recognizing the power of the network effects surrounding the software," said Michael A. Cusumano, a professor at the Massachusetts Institute of Technology's Sloan School of Management.
The power of the network is smart.
