diff --git a/src/cmd/run.js b/src/cmd/run.js
index d95b32168a..fbbfffb555 100644
--- a/src/cmd/run.js
+++ b/src/cmd/run.js
@@ -206,8 +206,6 @@ export default async function run(
   if (noReload) {
     log.info('Automatic extension reloading has been disabled');
   } else {
-    log.info('The extension will reload if any source file changes');
-
     reloadStrategy({
       extensionRunner,
       sourceDir,
@@ -217,6 +215,8 @@ export default async function run(
       ignoreFiles,
       noInput,
     });
+
+    log.info('The extension will reload if any source file changes');
   }
 
   return extensionRunner;
diff --git a/src/watcher.js b/src/watcher.js
index d4a784b474..c2e4bde76a 100644
--- a/src/watcher.js
+++ b/src/watcher.js
@@ -63,7 +63,9 @@ export default function onSourceChange({
     files: watchedFiles,
     directories: watchedDirs,
     missing: [],
-    startTime: Date.now(),
+    // startTime: Date.now(), is explicitly NOT set because it causes onChange
+    // to be emitted if the files were created shortly before now!
+    // See https://github.com/webpack/watchpack/issues/295
   });
 
   // TODO: support interrupting the watcher on Windows.