Digital network effects have only increased the rate of value capture at the core which is geometric (intermediation). The costs borne at the edge are mostly uniform (linear) and benefit from moore’s law. So at the surface everything appears ok, but the system imbalance is growing. Digital and wealth divides are growing, not declining. The overall trend in performance, experience and availability that the value owners point to is up (in part because of regulations that retarded digital networ...