There is a false belief that, the first innovator in, the real innovator, wins. As I recall, this was MBA dogma of the Boston Consulting Group and Morgan Stanley applied it to IPOs 20-30 years ago. Between 1970 to 1980, Morgan Stanley prided itself on only taking the first company in an industry public. Also, the first company often has a great idea, but takes the wrong road. See Buffalo in picture.
I worked for one of those companies so I know the story first hand. The rational was that the first company into a market space was the genuine innovator and would always dominate. In those days, we were the first in and Morgan Stanley did take us public. Poppycock now for sure. Now, the second or third entry into the market is typically the winner.
You can research these on your own, but before MS DOS, there was CPM. Before Excel, there was Visicalc. Before Windows, there was Apple. Before Apple, there was PARC . Before Google, there was Overture. Before many of the other tech giants, there was Bell Labs.
I could make a more extensive list, or you could, but you will find that the first mover principle has been replaced by the second or third mover, which enters the market place and forces the first mover to move over and get out of the way.
The reasons for this are perhaps obvious to all. It is simply easier to copy things, then invent them, and when you copy things you can also improve them more economically. You can come up with some reasons on your own. The impact on innovation is negative.
It is cheaper to be the watcher then the watchee.
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