[jmknoll]

Either thinking they can build something better internally, thinking the new thing doesn't matter, or realizing that it does matter but not having the ability to move fast and commercialize it.

e.g. Microsoft circa 2000 didn't think they could build a better internet. They just thought that the internet didn't really matter that much. Google in 2022 knew that LLMs mattered, and had spent a ton of money, but OpenAI just got a better product to market faster.