Founders mistakenly avoid markets with existing competitors, but these markets can indicate a real demand for solutions that existing products fail to address, as seen with Dropbox's success despite many competitors.

It's a dangerous mindset for founders to think they must beat their competitors to succeed, which distracts them from focusing on their own customers and product development.

In discussions about competition, it's beneficial to ask founders how they plan to win against competitors rather than making them defensive about their market position.

Young founders often lack historical knowledge about previous companies in their field, leading them to mistakenly believe that if they haven't heard of a similar company, it hasn't existed.

Having competition is often a good sign for a startup idea, as it indicates that there is a market, but you need a new insight to compete effectively against entrenched players.

Founders often assume their competitors are winning based on external signs like fundraising announcements, but they should focus on whether their customers are satisfied and engaged.

Founders should not shy away from competitive spaces, as many successful companies have emerged from crowded markets.

Sometimes competitors have objectively better products, which can lead to founders losing users to those alternatives.

Founders often psych themselves out by worrying about competitors, especially when they see a competitor raise significant funding, leading them to feel like they are failing.