“Every company is its own work of art, and the founder is the artist.” – James Currier We explore network effects and investing in network effect businesses. We’re joined by James Currier, co-founder and general partner of NfX. We cover virality vs. network effects, tweaking rules and systems to take advantage of network effects, and network effects as a business strategy. Explore the episode notes. Search and down a transcript and find links to related books, interviews, lectures, and more: outlieracademy.com/57. Chapters (00:00:00) – Introduction (00:01:58) – James’ background and journey to NfX (00:07:50) – Defining network effects and why they are so powerful (00:11:20) – Virality vs. network effects (00:14:46) – Examples of businesses with network effects (00:24:57) – Tweaking rules and systems to take advantage of network effects (00:31:07) – Networks effects as a business strategy (00:33:58) – Investing in network effects businesses (00:40:26) – Advice for founders About NfX The name NfX is actually short for Network Effects, and James with his founding partner, Pete Flint, founded NfX after seeing the power of network effects, partially by doing research that confirms that 70% of all unicorns are companies with proven network effects driving their businesses. While NFX has become one of the world's leading thinkers on network effects, having published incredibly salient posts from 13 different network effects and counting, where they've now identified 16 different types of network effects, to their very popular self-help article titled Your Life is Driven by Network Effects, and their strategy is clearly working. Watch and listen. Watch this episode on YouTube Find this episode in your favorite podcast app Get new episodes delivered via email Brought to you by HVMN. With Ketone-IQ, fuel your best anytime with a boost of awesome-feeling energy and clarity. Unlock the power of nature's superfuel—no fasting or keto diet required. Advertise with Outliers and reach our global community Disclosures: https://www.outlieracademy.com/legal/disclosures Learn more about your ad choices. Visit megaphone.fm/adchoices