Contrary to popular belief, a lot of cases exist where the “first mover” have not been able to sustain for a long in a market and the followers have taken over.
Source – http://www.revelx.co
The following link talks about the disadvantages of a “First Mover”
A few notable examples in this regard:
- Google Glass was the pioneer now Snapchat Spectacles is in demand
- Apple was the pioneer in PCs , Microsoft was the follower and adopted the model
- Craglist was the pioneer in finding properties “for rent” , AirBnb now dominates the market
Similar points are discussed in Jim Collins’s book titled “Great By Choice”