I've started a new project with a college classmate. We wanted to develop a mobile app, which we thought wasn't invented yet. Doing some research, we found out that the idea already existed; and it was exactly the same as what we had created.
After some thought, we decided to do it anyway but add more functionality and cover more countries than the app that already existed.
But here is where the conflict started: he thinks we should keep it small and after gaining some profit, then we can start expanding it. In my opinion, we should release the app with all the features working, because, if we release an app that already exists, without any new features, why would users pick our newly created app over a 3-year-old app with a lot more clients and stability than ours?
I can't find a proper way to justify my opinion. I'd like to have any statistics or some knowledge of how this works, but I don't.
How can I convince him that my opinion is better? Or am I actually wrong?