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> convergence to the mean

That's a funny way of saying "race to the bottom."

> The internet does that but it feels different with this

How does "the internet do that?" What force on the internet naturally brings about mediocrity? Or have we confused rapacious and monopolistic corporations with the internet at large?

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I'd call it race to the median, converging to mediocrity, or what the kids would call "mid"
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> How does "the internet do that?"

Stack exchange. Google.

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Indeed 'race to the bottom' seems more like capitalism in general.
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