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In every business and every industry, one of these will apply, you just have to know which one.
Take Uber for example.
They might have been the early bird in ride sharing, but it came at a cost.
Millions of dollars spent on lobbying against laws that protect taxi businesses.
And more recently – whether or not drivers are contractors or employees.
As you well know, everything turned out alright for them,
But, if they didn’t have such deep pockets, they could have easily been put out of business while fighting decades-old regulations.
Now smaller rideshare apps are popping up,
And you know what they don’t have to do??
Hire scores of lobbyists and lawyers.
Their path is already paved,
All that’s left is scaling.
They are the second mouse just grabbing some cheese.
On the other hand, I recently invested in an East African company called Apexloads and our goal is to capitalize on a first mover advantage.
Nearly every country around the world has a “load board” that connects truckers with available shipments,
But a few countries in East Africa don’t have one yet.
Apexloads is the first to bring one and they don’t have to fight any existing regulations to do it.
This allows them to truly have a first mover advantage.
For every innovative company in every industry,
You NEED to know whether you will have a first mover advantage, or if the second mouse will get the cheese.
🔔 Follow Brian on Linkedin: Brian Pillmore