And Then The Spiders Came

Twice, while building startups, competing technology was released that made what we were making obsolete before it was even completed.

The first was a new trading platform based on proprietary charts. TradingView was released just before our launch, forcing us to pivot our business model.

A few years later, just before launching a new AI, ChatGPT was released. It took our press and raised customer expectations higher than we could match.

Lesson

Competing on technology or some grand product idea is not a good strategy because someone else can consistently deliver something better. It is like trying to be the most attractive at a party. Eventually, someone else more handsome or prettier enters the room.

Danger

Each major AI company has extraordinary talent, billions of dollars in budget, and the attention of the world press. While you may not directly compete with such behemoths, they compete with you. Their technology is aimed at replacing all other technology, including yours.

Challenge

Warren Buffet said it best when asked how do you beat Bobby Fisher. His answer was, "You challenge him in anything but chess." So, how do you compete with the world's best technology companies? By focusing on anything other than technology.

Conclusion

By concentrating on the things that large technology companies cannot, you can create a place to grow. Otherwise, you are just waiting for AI to overtake your product.