The Applications of Networks in Social Media Platforms and Business World – Snapchat
https://www.wsj.com/articles/snaps-big-snip-will-only-go-so-far-11661959909?page=1
Networks have been a highly important part of the modern technology and relevant business field, especially in the new media platform industry, including Twitter, Meta, Netflix, Snapchat, and etc. People call it “network effect” by referring to the phenomenon that a social media platform could grow faster based on a larger user base, as users are flocking to the crowds in terms of social networks. Users always want the platform that can connect them to the most other users and friends. On the other hand, a large user base can also increase the cost-efficiency of some platforms, like Uber and Doordash. In the resource , it discusses the recent layoff of Snapchat and the company’s challenge on cutting the cost. It mentions that due to the impending recession, Snapchat is in a dangerous position compared to its peers because it is still a small fish in the pond of social networks, well behind its direct or indirect competitors, Meta, Alphabet, and Twitter. In an unideal economic environment, its smaller user base could be exposed to higher risk of revenue decline. However, despite all the disadvantages, Snap has added 28 million to its average daily user count since the first of the year compared with the 23 million Twitter has added in that time, even with all the hype about Elon Musk’s acquisition deal.
We can connect the information from the source to the class material as networks are essential in the modern world. As taught in class, triadic closure made it easy for people to connect as a big crowd. When a user has bonds with two other users, it is also easier for the other two users to connect with each other, even on social media accounts. The reasons behind triadic closure, opportunities, incentive, compatibility, all applies to connection on social media networks. In terms of opportunities, it is even easier for people to connect online than doing so in the real world. In terms of incentive, the majority goal of people using social media accounts is to connect with current and new friends. In terms of compatibility, the same logic in the real world also applies to such connections online. As a result, triadic closure will probably be easier to achieve on social media platforms than in the real world. So it is very rare for a user to violate the Strong Triadic Property, as it is even harder for a user online to have two strong ties while the other two users do not know each other, especially with the presence of group chats. Thus, we are surrounded by networks all around, in regardless of being physical or online.