History with Phil: In business, being first doesn't always win out

In business and technology, being first to market is often celebrated as a sign of innovation and leadership. The early mover seems to have a clear advantage: they capture attention, define the category, and set the stage for competitors. However, the history of commerce demonstrates a recurring pattern reminiscent of the old proverb “the early bird catches the worm” — but with a twist. Sometimes, the first bird gets the worm, and sometimes it’s the worm itself that suffers. In other words, being first does not guarantee success. In fact, many pioneering products have been overtaken by later entrants that refined the idea, executed better, or simply timed their arrival more effectively.

Take, for instance, social media. MySpace was the first major social networking platform to achieve wid