A short talk by Jason M. Lemkin contrasting VC and founder perspectives on competition and market strategy. Lemkin argues that startups don't always need to directly outcompete incumbents across an entire category; instead they can 'own' specific segments or verticals (SMB, mid-market, e-commerce) and founders must have conviction about why they will win.
What happens in a world then when the postmates effect isn't true. There's two ways of looking at it. There's the VC perspective and the founder's perspective. Okay? You don't always have to directly compete with someone else in your category. You can own a segment of it, right? You can own the SMB segment or the mid market, or you can be focused on e commerce or a different vertical categories have more rooms for number one than sometimes VCs realize, right? I think you have to have as founders, you have to have conviction about why you will truly win. The competition side finally matters again. Why will you win?
