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.

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.

The structure of competition in industries often prevents innovators from making money, despite creating significant value for society.

It's important to recognize that competition can lead to a focus on trivial achievements rather than on what is truly valuable.

External validation often favors conservative choices, making it hard to pursue unconventional startup ideas.

High performers are often driven by a sense of insufficiency, seeking validation and striving to prove their worth to the world.

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.

As Y Combinator partners, we often see founders become overly focused on their competitors, which can lead to fear overshadowing their excitement for their own company.

While being open is essential, it is not enough; innovators also need a high level of conscientiousness, which involves a strong commitment to applying themselves over many years to achieve significant accomplishments.