If you can find a valuable market which has been overlooked, or where your competitors are lazy or stuck in their ways, you can beat that competition, no matter how big or rich those other players might be. Greylock general partner Reid Hoffman and his Blitzscaling co-author Chris Yeh discuss why entrepreneurs are far better off pursuing a high-value opportunity with bad competition over a low-value opportunity with no competition, highlighting case studies of SpaceX, Tesla, Virgin Atlantic and LinkedIn. This podcast is the first in a multi-part installment looking at the fundamental laws of entrepreneurship. You can read the essay based on this conversation here: https://greylock.com/greymatter/choosing-bad-competition/

Learn more about your ad choices. Visit megaphone.fm/adchoices