There is a strategy called fast follower where you run behind a competitor (first mover) waiting for them to trip up. Quite
often they do. You can learn from their mistakes, operate leaner, you take different risks, make different partnerships, etc.
Often the first mover advantage comes with a lot of pride leading to arrogance and them making unforced errors.
Keep your head and focus on execution, margin and survival. Who knows what the future holds.
I'm the lastest entrant in a very mature market and I'm cleaning up.
Thanks. I post stories about it secretly on HN through anonomous accounts. I mostly get downvoted as it's usually controversial and counterintuitive. It is to be expected.
I don't teach 'defence against the dark arts' as the techniques are more likely to be exploited if more widely known and I'd rather not help it spread. Thankfully we're already seeing a cultural pushback with people logging off. I expect to see much more of that in the future as society gets better at understanding addiction and individuals get better at optimizing for their own happiness.
As for me; I have my own software product company now and I am free to optimise for the user. I don't need the money but I do like making the world a better place.
More importantly social media is bad for your mental health. It hits the brain in many of the same ways as the 'news' and those intentionally boring phone games. It causes dopamine dysregulation which leads to a dependency. Consider the anxiety you feel if you need to go to the bathroom and cannot find your phone. This dopamine dysregulation destroys your mood and motivation.
Being social is a good thing. However companies have figured out they need addictive properties in order to be successful. I previously worked on optimizing companies for user engagement and the addictive properties naturally fall out of the process. If social media satiates your desires you will actually use them less. Think about it; why are your keys always in the last place you look? Because once you find them you stop looking. If you want to keep people on your site you hide their keys. People love a challenge and will be even happier when they find them.
It's particularly bad with modern (low information) news media. I'm a compulsive news junkie* so I have to avoid the news in order to get anything done. I quit facebook and google over their insistence on pushing 'news'. It's junk food for the brain. It's low information and only gives an illusion of being informed. E.g. the recent election.
* Note: I consider HN to be social 'media' news and I am aware that I'm here 'chipping'. I do so intentionally in effort to avoid fettishising vices. Plus HN is as close as I get to an online group of peers. I only use HN after self-flagellating while repeatedly muttering "the flesh is weak".
People who worry about the risk of accidents should also take into account the risk of falling behind technologically and economically. I'd argue that the latter would cause (or fail to prevent) far more deaths. If China wants to lead the world on this then more power to them. Maybe the US will step up their game in response.
Often the first mover advantage comes with a lot of pride leading to arrogance and them making unforced errors.
Keep your head and focus on execution, margin and survival. Who knows what the future holds.
I'm the lastest entrant in a very mature market and I'm cleaning up.