How much do you need to degrade their experience before they stop coming, initiating a sort of death spiral?
Modern technology has, in many ways, drastically reduced the importance of distance — not just physical distance but more abstract kinds of distance too.
It has never been as easy to interact with people in different countries, in different professions and in different social strata as it is now.
Yet even in this shrunken world there are nexuses sustained by what economists call network externalities.
The world’s great financial centers are nexuses: People do business in New York or London because so many others do the same.
Persons:
Elon, it’s
Organizations:
U.S .
Locations:
New York, London, York, Erie, U.S