Should you be a First Mover or Fast Follower?

For the last 20 years there has been one big debate around technology innovation. Should you be a first mover or a fast follower? First movers would take on higher risk experiments expecting higher returns, but also tolerating higher rates of failure. Fast followers, on the other hand, would wait for the kinks to be worked out or the market to be validated before investing. So which strategy is better?