I’m currently rereading Zero to One for my book club. Thiel argues that all significant fortunes are built by building something new that totally avoids competition (or at least addresses a problem in a completely new way from preexisting competition).
I get you now. Yes, the big bold new, competition less ideas are usually that way for a reason, but you can always test them out. Build a small version of that diesel engine and light a match under it first.