"But X already exists!" isn't even really a barrier for startups on the rocket-ship trajectory (look in e.g. email marketing), to say nothing of companies which are not. Your friendly local dentist is not devastated that someone else has filled cavities before; why should you be.
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"Who's that a reference to?" Venture capitalists, whose primary customers are limited partners (LPs = sources of the money), and to whom they can express at florid length how their firm with a very similar product to many others is actually quite differentiated, thank you.
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This is so insightful. I never thought of it this way in the past, and I’m sure I’ll never forget this perspective in the future.
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