Competition is overrated! (Product Management)
Hello there, Today’s Newsletter is about Product Management!
Do you spend more time thinking about your competition? If yes, this one is for you.
Suppose you have an idea for a startup, and then do some research only to discover there are already similar products on the market. You become disheartened and wonder if you should abandon your idea... (By Chris Dixon)
Key Points:
- Almost every good idea has already been built. Sometimes new ideas are just ahead of their time.
- There were probably 50 companies that tried to do viral video sharing before YouTube. Before 2005, when YouTube was founded, relatively few users had broadband and video cameras.
- YouTube also took advantage of the latest version of Flash that could play videos seamlessly.
- When Google launched, other search engines like Yahoo, Excite, and Lycos were focused on becoming multipurpose “portals” and had de-prioritized search (Yahoo even outsourced their search technology).
- Startups are primarly competing against indifference, lack of awareness, and lack of understanding — not other startups.
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