Originally posted on Manage By Walking Around:
What was the first fast food company?
What was the first credit card company?
If you’re like most people, you probably didn’t know the answers are White Castle and Diners’ Club. While both companies still exist, they now have relatively small share in what has turned out to be very large markets.
In an earlier post, I argued the benefits of the so-called first mover advantage are exaggerated: