Being a fast-follower is often an excellent strategy.
I've long thought that somebody will make a fortune by setting up a company that clones successful America-centric startups into Europe, Asia and/or Brazil; using a fast-follower strategy to test core ideas, but then implementing them in untapped markets.
The have cloned AirBNB (Wimdu), for example.
I seem to recall that they had several large exits by cloning sites like eBay and then selling to the company they cloned, but I can't find the article right now. In a sense, if an American company doesn't know how to penetrate a particular international market, then these clones actually do add value.
I've long thought that somebody will make a fortune by setting up a company that clones successful America-centric startups into Europe, Asia and/or Brazil; using a fast-follower strategy to test core ideas, but then implementing them in untapped markets.