Compared to the era of a self-sufficient barter economy, everyone’s happiness is greater in the exchange economy, where each person divides their labor into what they do best and exchanges what they produce. This is because the division of labor is more efficient than self-sufficiency in productivity and can further reduce production costs. At this point, a means of exchange agreed upon by society is required, which is called money (currency). In other words, in the exchange economy, specialists who excel in one field are more advantageous for survival than ordinary people. An all-round player is more likely to face starvation. Therefore, a generalist is only advantageous for survival when they can organically integrate their diverse abilities in a specific field or situation, while also managing and restricting the scope of their activities and conditions. - Joseph’s “just my thoughts”
Metcalfe’s Law states that the value of a communication network is proportional to the square of the number of users connected to it, represented by the formula N(N-1)/2, where N is the number of terminals (users). In other words, if there is only one cell phone in the world, it holds no value. The same applies to computers and software. Consequently, mobile communication service providers strive to distribute mobile phones to consumers, even going so far as to subsidize them. The value of language follows the same principle. However, the impact can vary significantly depending on who is connected to this network. If you are in the business of building networks, you must implement a strategy to quickly attract the most influential users to your network. Therefore, an entrepreneur must clearly and concisely define who their customers are and why they should engage with their network. - Joseph’s “just my thoughts”