Only if you’re going to copy their great features, e.g. Snapchat Stories as implemented in Instagram Stories. Facebook are masters at this.
At both Viaweb and YC, every minute I spent thinking about competitors was, in retrospect, a minute wasted.
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It may be useful for some companies to think about competitors. That's why I didn't phrase it as a general rule. In particular it may be useful for more established companies to. If a startup has to, though, they're probably doomed.
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“We have to let go of this notion that for Apple to win, Microsoft has to lose...for Apple to win, it has to do a really good job. And if others are going to help us that’s great...and if we screw up...it’s not somebody else’s fault, it’s our fault” -Steve Jobs returning in 1997
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Nah. To succeed you need to compete asymmetrically. To compete asymmetrically, you need to understand, from the customer's point of view what your value proposition is relative to alternatives.
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You probably will have to do this once at the beginning and then move on
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*every* minute? Reviewing your competitors' actions and their mistakes/successes didn't help you at all?
Thanks. Twitter will use this to make your timeline better. UndoUndo
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Wait, what about: "Sometimes, in desperation, competitors would try to introduce features that we didn't have. But with Lisp our development cycle was so fast that we could sometimes duplicate a new feature within a day or two of a competitor announcing it in a press release."
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lol - owned.
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Tencent Ventures (not a YC competitor but still believe they have special insights and talent re: picking and investing in winners), from their Q4 2018 earnings call: Invested in 700 companies where 100+ valued over $1B 60+ IPO'edpic.twitter.com/nbme424oSR
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over 100 of them are publicly listed?!? I had no idea Tencent Ventures is such a power house
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