Price's Law is very intriguing as well and is similar to the Pareto Principle; it's just expressed a little different mathematically.
What Price's Law says is that 50% of the work/results/sales/etc. is produced by the square root of the number of people/entities in the hierarchy.
So if you have 100 websites that did $1m in revenue this year:
50% of the total revenue ($500,000) was generated by only 10 of the websites (the square root of 100).
So 10 sites = 50% of the revenue and 90 sites combine to make up the other 50%.
But it gets even more interesting (and confusing to write it out, but I will try).
You don't just take the square root once and it ends there. You have to keep breaking it down until you can't go any further.
So using the same example of the 100 websites doing $1m in revenue:
We already established that 50% ($500,000) is generated by 10 of the sites (square root of 100). However, now of those 10 sites that made $500,000, we have to take the square root of that 10 to get 50% of the $500,000. Meaning $250,000 out of that $500,000 was earned by only 3 of the sites (3 is roughly the square root of 10).
At this point, we've shown that out of our 100 total websites, a mere 3 of them generated $250,000 out of our $1m total; this means 97 of them combine to make the remaining $750,000 (however, it's not like it's split evenly amongst those 97 - everything is still concentrated within a small number of the total websites).
And we can do it again...
Of the 3 sites that earned $250,000 total, half of that was made by the square root of 3, which shows that only 1-2 of the 100 sites brought in $125,000 total and the rest is spread out over the remaining 98-99 sites.
Jordan Peterson talks about both Pareto and Price's Law a lot. It's extremely captivating when you realize that these equations can be applied to literally almost every scenario and area of industry in life (50% of the total book sales on Amazon this year was brought in by the square root of the number of authors who wrote books during the same time period).
Here's a video of him explaining it:
And then here's a written article that breaks it down further: https://dariusforoux.com/prices-law/
Lastly, if you really pay attention to the numbers, you'll see that what you calculate using Price's Law comes out to be very close to the 80-20 rule of Pareto's Principle.