Niall Ferguson, in "The Square and the Tower," discusses the concept of preferential attachment in social networks, suggesting that this phenomenon creates significant inequalities among users. As individuals and connections gain popularity, they attract more attention and resources, leading to a few dominating figures or nodes in the network while marginalizing others. This disparity reflects a broader trend where social networks are skewed towards a few central players who accumulate power and influence over time.

The implications of this inegalitarian structure are profound. Ferguson argues that such networks shape not only online interactions but also real-world power dynamics. The concentration of influence can affect societal norms, economic opportunities, and political power, highlighting the need to understand these networks' underlying mechanics to navigate their effects on contemporary society effectively.