I actually think the opposite approach might be the most optimal one, at least from a monetary perspective. That is, be on the cutting-edge of something, but be willing to bail out at the moment its future starts seeming questionable. Or even more specifically, maximize your foothold in it while minimizing your downside.

Bitcoin is a good example: if you bought it 15 years ago and held it, you're probably quite wealthy by now. Even if you sold it 5 years ago, you would have made a ton of money. But if you quit your job and started a cryptocurrency company circa 2020, because you thought crypto would eat the entire economic system, you probably wasted a lot of time and opportunities. Too much invested, too much risked.

AI is another one. If you were using AI to create content in the months/years before it really blew up, you had a competitive advantage, and it might have really grown your business/website/etc. But if you're now starting an AI company that helps people generate content about something, you're a bit late. The cat is out of the bag, and people know what AI-speak is. The early-adopter advantage isn't there anymore.