The Importance of Being the Last Mover

In business, one of the critical things is that you don't want excess competition. Good businesses always have this extremely unique character. You can certainly get it by being sort of a first mover where you grow incredibly fast. And so, if you are the first one and you grow quickly enough that no one can catch up, that can work. In practice, I think it's more important to be the last mover than the first mover.