What are the advantages of being an early adopter of technology? What are the disadvantages?
Computer and other electronic technologies are booming today. New technologies come out very frequently. People who use such technology have to decide whether they will constantly buy the newest thing or if they will wait to buy it. Most of the advantages come to those who wait to adopt new technologies, but there is at least one major advantage to being an early adopter.
There are at least two main advantages to waiting to buy a new technology. First, by waiting, you are likely to save money. The prices of new technologies are always higher so that companies can reap profits from those people who are set on having the newest innovations. After a while, prices drop. Second, by waiting, you can avoid having to live through the bugs that come with new technologies. At times, you may even avoid wasting money on technologies that go “extinct.”
However, there is one main advantage to being an early adopter. This is mostly a psychological or emotional advantage. Some people like to feel that they are ahead of the times. They like to feel that they are on the cutting edge. By being early adopters, they get to feel the satisfaction of being ahead of other people.
Thus, there are tangible benefits to waiting, but psychological benefits to being an early adopter.