1. Innovate.
2. Exploit.
You start by innovating a "fast horse". This gains you early adopters who pull in a larger audience. A horse can only be so fast, so continued innovation might lead to something more like a car. This will only cause you to bleed users. Stick to the horse.
Instead of continuing to innovate endlessly, you switch to exploitation. Fire the visionaries. They're just a waste of payroll. Bring in people who can squeeze every last dime out of your user base.
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The above isn't anything new. However, it's clear that some companies are better at maintaining quality while exploiting. Are they doing something different, or is it just that their customers have to choose them repeatedly? e.g. Most people don't sign up with one car company for life. They'll buy several cars over their life and that's a choice that the car company must win each time. Meanwhile, people sign up for Netflix or Spotify and stay subbed. They don't look at the alternatives every few years. Porsche needs to keep up with the latest and fastest horses to continue exploiting their reputation, while Netflix can focus purely on making more money from their users. A faster horse may come along, but Netflix doesn't break down and need to be replaced.