IP has subtle things going against it, which you should certainly analyze more.. eg University research teams have IP too, but no clear network effect (maybe even an anti-network effect?)

To me the overall "anti-network effect" for Big Tech looks like the metatheory Krugman proposed to explain enshittification. The initial ramp up can come from proprietary code, hiring power, regulatory capture, branding, anything really, but especially a synthesis of all these

https://paulkrugman.substack.com/api/v1/file/7510035f-d377-4...