Y Combinator Startup Podcast How To Compete With Amazon and Google
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Jan 18, 2023 The discussion dives deep into the fears that startups face when competing with giants like Amazon and Google. Founders are encouraged to focus on their own product development rather than getting tangled in competitor analysis. Anecdotes from Twitch illustrate the importance of understanding customer needs over worrying about rivals. Strategies from companies like Snap and Instacart showcase how excellence in product quality can enable smaller players to flourish despite industry behemoths. Maintaining a positive mindset is key to navigating these competitive landscapes.
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Fear of Competition
- Founders often lose initial excitement and become overly worried about competitors.
- This fear can be paralyzing and shift focus away from building a successful company.
Focus on Your Customers
- Focus on your own customers and product, not your competitors.
- Avoid blindly copying competitors; use a first-principles approach to building your company.
Most Startups Fail
- Most startups fail, including competitors; focus on building something people want.
- Multiple winners can exist in many markets; don't assume a single competitor shuts down the market.