Top Highlights

• This past year, for the first time, I could see the end of the road for Twitter. Not in an abstract way; I felt its decline.
• One of his key insights is what I think of as his theory of group inertia. Groups are hard to form in the first place.
• In The Rise and Decline of Nations, Mancur Olson builds on his previous book The Logic of Collective Action: Public Goods and the Theory of Groups to discuss how and why groups form. What are the incentives that guide their behavior?
• However, inertia works both before and after product-market fit. Once a group has formed, it tends to persist even after the collective good it came together to provide is no longer needed.
• But if you manage by some miracle to conjure one from the void, and if you provide that group with a reasonable set of ways for everyone to hang out, network effects can keep the party going long after last call.

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