TechFlow news — On February 27, Max Resnick, chief economist at Anza, posted on social platform X: "Network effects are inconvenient for many of the theories currently dominating top VC investment committees, but inconvenient doesn't mean incorrect.
2010: Uber investors recognized that ride-hailing was one of the industries most driven by network effects and continued funding an unprofitable company for years. They were right.
2025: Crypto investors are trying to argue that network effects don't matter—claiming that every corner of the world will have its own blockchain, each chain will have a token, those tokens will airdrop other tokens, and somehow all of this will generate meaningful returns. They are wrong."
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