Entrepreneurs should target hard problems that just became solvable due to new technology or economics, not compete on making easy things cheaper. Focus on what was impossible for everyone except the super-elite, and you'll find markets with almost no competition.
Ask what makes hard things possible. Look for technology. Look for context. Look for changes in relative economics that make difficult things, you know, possible to do, economical to do. I contrast this with taking easy things and reducing them to like near zero. See, that ladder really rewards capital, and that's gonna be something that a larger company will have a much easier time making a whole lot of money on. But the things that are really hard and that are currently really only in the domain of the super elite, or maybe are totally impossible, That is where if you focus your attention, you can open up new markets and be in a position where you don't need to compete at all. People who are trying to make something easy and make it super cheap or free, there are a lot of people who are doing that because they think that's going to be the easy money. That will lead to a red ocean race to the bottom. Focus on what is hard, what is special, what's special about you that you know that nobody else does. The insight that you have into the tools and the context that will allow you to take advantage of the new relative economics around us.
