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They have the market and the network effects, so the game is over, regardless of how profitable they are, if they get acquired, etc.


What network effects?


A user would have a difficult time leaving the platform, even if they preferred an alternative, unless all of their friends and communicates also left, similar to why leaving a platform like Facebook or Reddit can be so difficult.


Discord is mostly small groups, which aren't strongly coupled to each other. It's pretty easy to move a small group. I am part of a couple of small groups which have migrated between platforms several times. I don't think Discord has a network effect anything like Facebook's.


Honestly, I think you would be surprised. Talk to some males aged 14-18 that play video games, and you may find that almost their entire social life and graph is on Discord.




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