Business is getting harder and smarter, requiring multiple competencies to succeed rather than just one.

As you scale, competition changes. Initially, you focus on survival, but as you gain traction, you face existential threats from competitors who may try to copy your model and undermine your success.

The bigger the market, the more you need to specialize; specialization helps you compete effectively.

Marketplaces are tough businesses, but after about two years, they hit an inflection point and start growing exponentially.

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.

I learned that there's a seven-year arc in business, where a company can grow from nothing to a significant player, but then face challenges from competition and market changes.

Running a company in the crypto space is particularly difficult because you're forced to evolve as the market cycles come and go.

In competitive industries, if you have good technology but the market forces aren't favorable, you're likely to fail.

Expectations of customers continue to rise, making it a constant challenge to maintain product-market fit.