Being a ‘first mover’ can be either advantageous or dangerous. Many innovators end up being far ahead of the public’s willingness to adopt new products or ways of doing things. And the companies that follow your lead can just be better at doing what you do.
In most cases, being first to market is a definite advantage but plenty of success stories involve simply building a better mousetrap. History is full of pioneers whose mojo was stolen by a second wave that had the advantage of seeing your concept/product in action, identifying how it could be improved and reaping the rewards.
Before Bodog, I ran an online gambling turnkey business that powered a number of sites. I got to see what worked and what didn’t. Many of these early sites eventually went dark for one reason or another while Bodog succeeded on a scale these other companies could only dream of.
A lot of the incumbents failed to maintain their early advantage because money was rolling in and the guys who ran these sites couldn’t see any reason why that would stop.
So they didn’t reinvest profits into making a better product and providing a better service. They dismissed new competitors as not having whatever it was they thought made their own sites successful. Complacency and arrogance are a toxic mix at the best of times but in business, it’s fatal.
A lot of the second- and third-wavers also had the advantage of being able to start from scratch software-wise, whereas the original sites were often built on sub-optimal code that was never rebuilt from the ground up, just added to as new features were required. You ended up with something Rube Goldberg might have admired but customers generally didn’t.
I definitely benefited from these guys’ shortcomings, but if I had my choice, I’d rather be a leader than a follower. Just remember to keep your foot firmly on the gas pedal, because competitors in your rearview mirror may be closer than they appear.
Compact-object damping spectra may reveal whether observed relativistic time is merely clock redshift or a projection of hidden reference-conditioned information flow.
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