Human cone photoreceptors differ from rods and serve as the retinoblastoma cell-of-origin. Here, we used deep full-length single-cell RNA-sequencing to distinguish post-mitotic cone and rod developmental states and cone-specific features that contribute to retinoblastomagenesis. The analyses revealed early post-mitotic cone- and rod-directed populations characterized by higher THRB or NRL regulon activities, an immature photoreceptor precursor population with concurrent cone and rod gene and regulon expression, and distinct early and late cone and rod maturation states distinguished by maturation-associated declines in RAX regulon activity. Unexpectedly, both L/M cone and rod precursors co-expressedNRLandTHRBRNAs, yet they differentially expressed functionally antagonisticNRLisoforms and prematurely terminatedTHRBtranscripts. Early L/M cone precursors exhibited successive expression of lncRNAs along withMYCN, which composed the seventh most L/M-cone-specific regulon, andSYK, which contributed to the early cone precursors’ proliferative response toRB1loss. These findings reveal previously unrecognized photoreceptor precursor states and a role for early cone-precursor-intrinsicSYKexpression in retinoblastoma initiation.