Network effects are central to our investment thesis at USV. We believe that they provide one of the few (the only?) source of sustainable competitive advantage. We have also been outspoken about wanting to limit the power that these network effects provide to winning companies. One proposal that I have made is to shift more power to the edge of the network by giving humans the right to be represented by a software bot. It is useful to think about how contestable a market with network effects...

Network effects are central to our investment thesis at USV. We believe that they provide one of the few (the only?) source of sustainable competitive advantage. We have also been outspoken about wanting to limit the power that these network effects provide to winning companies. One proposal that I have made is to shift more power to the edge of the network by giving humans the right to be represented by a software bot. It is useful to think about how contestable a market with network effects...