If you get to the market first, you’ll win, right?
Wrong.
Have you ever heard of the Tablet PC from Microsoft?
No? They tried to start it in 2001, but they failed.
After 9 years, Apple brought out the same idea as the iPad, which made them over $150B.
Why?
Microsoft didn’t have the right mix of tech and market.
At that time, there was no wireless internet, which is now a very important tool.
Other examples of the technology-market fit for the first mover:
1. “Personal computer” is a new device; the market needs MacOS and Windows
2. Internet -> Netscape, Internet Explorer
3. The Internet got popular: Yahoo, Alta Vista, and Google
4. Wireless internet = iPhone and Nokia
5. Smartphones = Applications
6. Fast internet means you can watch YouTube and Netflix
7. Mobile picture -> Instagram
8. Front camera on a mobile phone = SnapChat, Looksery
9. The next new technology: Your first-mover $1 billion company
Source: www.matthewbarby.com