Admitting our faults can be difficult at times, as we may feel that we lose our status when we acknowledge the truth. However, considering ourselves as the ultimate destination of knowledge can lead to arrogance and rudeness. Although admitting our flaws may result in a loss of status, it is essential to avoid being drained by our imagination, which can keep the graph of our status down. We can actually benefit from acknowledging our flaws, but many people find it hard to admit them.
The first mover advantage maybe a myth like MySpace. It is not necessary to have a first mover advantage, but it may do good if managed correctly. In the world of crypto we could see Bitcoin reigning over a decade as the leading coin. It got its first mover advantage and it is way ahead than other altcoins. But does it means it will lead forever ? Not really. I’m case of Amazon the first mover advantage was a great benefit. It is not that because of Amazon being the first to deliver goods through online, it is the ever growth mindset of Jeff Bezos. Like in case of any other thing, the important factor is not the advantage, but the mindset that drives it behind. Last day I wrote about having a progressive mindset. But when it comes to BTC, the driver behind it is clearly absent. Its first mover advantage is getting it to the top, but as soon as when one person with growth mindset comes with an equivalent product (which already happened), the first mover advantage may slay. ...
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