First-mover always looks foolish until it doesn't. Early entry hits different—the self-doubt, the FOMO watching sidelines, questioning every move. Meanwhile, jumping in late? That's comfortable. Safer. You're following the crowd, riding momentum, no skin in the original bet.

But here's what actually moves the needle: markets reward pioneers, not followers. The early ones absorb the volatility, take the L's, build the conviction. By the time mainstream catches up, the real gains are already baked in. Risk and timing—they're inseparable.