2 ms·

And they will most likely also be the last to benefit from hypothetical efficiency gains because they haven't been building up expertise (by burning billions) y

• lamontcg 7mo ago
  You can hire expertise off your competitors. Being able to Greenfield something new is a tempting pitch to use to poach employees. And first to market often doesn't win, or else WebVan would still be doing grocery deliveries. We tend to overstate the first-mover advantages because we more easily remember the cases where that turned into lasting dominance while forgetting all the companies that died to first-mover disadvantages.