Startup: 5. Competition is for Losers

A business creates X dollars of value and captures Y% of X.

X and Y are independent variables.

Don’t start with a massive market.

Start with a small market and expand from there.

Facebook started with 10k Harvard students.

“All happy companies are different because they doing something unique.”

“All unhappy companies are alike because they trying to escape the essential sameness that is competition.”

Make something 1o x better than next best thing.

“Why this will be still leading company in 10-20 years ?”

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