If you're starting a company, always aim for monopoly and avoid competition; competition is for losers.

There are only two kinds of businesses: perfectly competitive and monopolies; this dichotomy is often misunderstood as people misrepresent their market positions.

When founders claim they have no competitors, it's a red flag indicating a lack of understanding of the market and customer needs.

Having a monopoly means that as your company grows, it becomes increasingly difficult for competitors to defeat you, often due to network effects.

Defensibility in startups often comes from doing something unique that others aren't pursuing. The most enduring companies typically find ways to differentiate themselves from the competition.

Be explicit about what differentiates your product from competitors, especially in a crowded market where many offer similar solutions.

Characteristics of a monopoly include proprietary technology, network effects, and economies of scale, which can lead to sustained market dominance over time.

Startups often make the mistake of trying to emulate other companies; instead, they should do the opposite of what competitors are doing.

The critical aspect of a monopoly is not just achieving it but maintaining it over time; being the last mover in a category is often more valuable than being the first.