1988 US scholars David Montgomery and Marvin Lieberman write “First-Mover Advantage,” outlining the competitive advantages of being first to market.
1995 Amazon.com launches, the first of a new breed of online retailers.
1997–2000 Adopting the “be first” mantra, dot-com companies race to market; many fail when the promised advantages do not materialize.
1998 Montgomery and Lieberman question their original findings in their paper, “First-Mover (Dis)Advantages.”
2001 Amazon.com returns its first profit. The company’s first-mover advantages were significant, but a good business model mattered more.
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