Nostr Web Client

It seems to me that the Nostr protocol is simultaneously capitalist and socialist.

Everyone independently owns their social graph, and everyone collectively owns the network itself.

Can someone explain to me the social graph? I don't understand it.

Also how is the equivalent of my history stored on relays/nostr?

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I’m definitely not the best person to ask but as I understand it, the social graph is just all of your content and following.