Social networks are immune to competition because of network effects. Once their network is established as the first mover, a subsequent newcomer will always have a worse product because of the smaller networks be therefore can’t challenge the incumbent.

Where we have seen successful upstarts in social media is when they have a different product. So Tik Tok can enter this space. But a Twitter clone or Facebook clone will have a hard time.

The technology isn’t the blocker. It’s that the nature of the social media product works differently, and the lack of competition is inherent to such a product.