In competitive environments, there are scenarios where maintaining secrecy is important, especially for easily copied products. However, most people err on the side of being too secretive rather than too open.

If you have insider information about a competitor that the founder doesn't know, it's generally advisable to keep that information to yourself to avoid complications.

When starting a company in a noisy environment, entrepreneurs should focus on breaking through the noise and consider doing something contrarian to stand out.

The most feared competitor is one that focuses on improving their own business rather than worrying about you.

Don't try to be the last money in; it shows a lack of confidence in your investment decision.

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.

If you're not convinced about a company's strategy, it's best to communicate that honestly without labeling the founders negatively, as it can be a sensitive topic.

Avoid saying you're in on an investment just to keep your options open; be honest about your concerns regarding financing risks instead.

Creating a competitive environment is essential for securing favorable deal terms; if you don't have options, you may not get the best outcome.