April 4, 2019

The First Mover's Advantage is DEAD.

The first mover's advantage doesn't really exist anymore for tech products.

One could be quick to pull up the “Facebook vs MySpace” card or some other example — my discussion is around plugs.

There are 15 types of socket plugs. And it's not that we don't want to all (every country) have the same types of plugs, in theory, it's just that it's too hard to have that happen.

When UK socket plugs became so chunky because of a shortage of copper, no one was able to come 3 months after and say “UK plugs but thinner” and thus claim all the business.

However, in 2019 you’ll be swallowed in 3 months indeed if you’re not able to lock people in — but in a different fashion than how we’re locked into metric/imperial et al.

The more time has passed between your product and the next innovator, the harder it is for people to leave.

Do you guys think First Mover's Advantage still exists?