meaning - Is there a difference between "leading edge" and "bleeding edge"?
It seems to me that "leading edge" is the more established phrase, while "bleeding edge" is basically the same thing but the user has adapted the phrase for extra (rather meaningless) emphasis.
Or is there a meaningful distinction between the two?
Answer
There is, in fact, a distinction.
Leading edge in this sense, means cutting edge. It refers to the most highly sophisticated development in a field. However, it rarely or never has the connotation of risky or untested. It is almost always used to describe the best; not necessarily the newest.
Bleeding edge would refer to a development that is so new that it could have a high risk of being unreliable and may incur greater expense in order to use it:
Bleeding edge: A pun on "leading edge." It implies that using the latest technology is often risky because it has not been tested with enough users and may not perform as expected. Introducing an advanced product or service is also risky because the user community may not be ready for it or really want it.
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