If I could go back and give advice to my younger self, it might be this: Competition is for losers.
That was actually the headline the Wall Street Journal used when it excerpted a chapter from my book Zero to One in which I argue that great companies succeed not by competing with everybody else but by differentiating themselves—by becoming so good at what they do that no other firm can offer a close substitute. Think of Google, which hasn’t competed in search since the early 2000s, when it clearly distanced itself from Microsoft and Yahoo!
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