>> The determining factor in a startup’s success isn’t competition, it’s whether they can actually make something good enough that they don’t die.
That is so wrong. Very wrong. It's all about competition. If you work for a well-connected startup or a big corporation, it may feel like there is no competition... But the competition exists; they just never had a chance. The reality for most startups is that they're faced with impossible competition. Competition is everything.
>> You can tell whether a startup has [already] made something people want by whether it’s growing really quickly
People buy what they're told to buy. People don't actually buy what they inherently want or need - If they did, they wouldn't be so miserable and Facebook wouldn't be making so much money. "Make something people want" is a lie - The quote should be "Fool people into buying something they don't need".
I disagree. Competition is important, sure, because every customer will evaluate you against them and will only decide for your product if he finds it better. BUT, you don't need to be better in every aspect. You can represent a better alternative for only a subset of customers, and still have a big enough market share.
I think most businesses, when they are driven out by competition, actually fail at delivering value. Competitors just show them how it should be done. Unfortunately it is almost impossible to change how an existing business entity operates.
seems like a cynical rant but this is accurate. a “good enough” product is in fact only good enough because it is better than the competition on some axes and has a moat.
competition is everything. it’s no fun and not worth it to work for a startup that is withering on the vine.
That is so wrong. Very wrong. It's all about competition. If you work for a well-connected startup or a big corporation, it may feel like there is no competition... But the competition exists; they just never had a chance. The reality for most startups is that they're faced with impossible competition. Competition is everything.
>> You can tell whether a startup has [already] made something people want by whether it’s growing really quickly
People buy what they're told to buy. People don't actually buy what they inherently want or need - If they did, they wouldn't be so miserable and Facebook wouldn't be making so much money. "Make something people want" is a lie - The quote should be "Fool people into buying something they don't need".