Right? Being the first to market always pays off.
Wrong.
What about Microsoft’s Tablet PC, have you heard of it?
No? They attempted it in 2001, but it was a failure.
With the iPad, Apple made over $150 billion after introducing essentially the same product 9 years later.
Why?
The technology-market fit was missing at Microsoft.
Wireless internet, which is now a necessity, wasn’t around then.
Additional pioneering instances of technology meeting consumer demand:
1. The introduction of the “Personal Computer” -> Demand for MacOS and Windows in the marketplace
Two: Online, so Netscape and IE
Third, the Internet gained popularity, leading to the rise of Yahoo, Alta Vista, and Google.
For 4G internet access, think Nokia and iPhone
5. Mobile devices -> Software
Rapid data transfer rates = (more) Netflix and YouTube
Photo app for smartphones: Instagram
8: Selfie apps for smartphones: Snapchat and Looksery
9. Your multibillion dollar startup in the next cutting-edge technology