> Starting a company when there are already established and strong competitors probably counts as "looks like a bad idea". First-mover advantage is overrated,

> Starting a company when there are already established and strong competitors probably counts as "looks like a bad idea". First-mover advantage is overrated, and in the tech industry, you'll notice that many if not most successful companies were not first-movers. Often, first-mover advantage is a disadvantage. In even the most established markets, you can find meaningful niches and adjacencies that the big players aren't tapping. Many times, the untapped adjacencies can expand the overall size of the market significantly (see Airbnb).