Ben Constanty, 25 February 2021
The odds are good that you have been impacted by the network effect, or when a product increases in value when more individuals begin adopting and using said product. A few examples include the telephone and the internet.
Company CEOs such as Elon Musk have recently expedited this process by using their personal brands to create a massive network effect in different industries. To get a better understanding, we need to dive in further.
If you were to ask Elon Musk whether he was a disruptor, a term often used to describe either Musk himself or the companies he leads, you might be surprised by his answer.
Back in 2015, Musk spoke at the Edison Electric Institute’s annual convention. He stated that he is “not really a fan” of disruption, and that disruption can only happen when a “fundamentally better” option is developed. Yet, even with this statement, it is difficult to ignore the significant impact that Musk has on any field he’s involved in.