Technology is an incredibly powerful tool, but it can't ever replace relationships.
Technology, code and data don't mean a lot by themselves, because all content can be duplicated. Often the strength of a platform is in its community. It's very hard work to build a vibrant community - as they are born out of relationships, ideological commonalities, trends, and trust - not to mention ongoing engagement.
As an example, with cryptocurrency - it’s really easy to copy ethereum (literally you can just fork it on github) but everybody supporting it - developers building on top of it, their core team and all their community karma they’ve built - that stuff can’t be copied.
When you bet on platforms, you bet on the community as much as the tech, because the code can be duplicated. If the platform's success is because of the building community, that’s a real competitive advantage as opposed to pure tech.