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> Why doesn’t someone else create a competing app that’s better and thereby steal all their business?

Isn't this just your "information asymmetry" point over again?

The average user has no way to actually compare outcomes between dating apps - at best, they can run a limited A/B test on short term outcomes (do I go on a lot of dates? Do I click with my dates?), or they might have anecdotal evidence from the success/failures of their friends dating on the same apps.



There can also be barriers to entry, regulatory capture, predatory pricing and other market issues




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