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217: The Flip Side: When Not to Build in Public
The Bootstrapped Founder
The Importance of Keeping Competitive Tools Secret
When it comes to tools for day traders, keeping it a secret can maximize profits and prevent competition. Building a brand of being elite and exclusive works well in hyper-competitive markets. Building in public can still be an option, but with a selective and strategic approach. Copycats are a problem, especially when lacking a strong business moat, which is any advantage that can't be easily replicated. Sharing too much publicly invites clones and competitors, which is risky for first-time founders without expertise or connections.
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