I can think of 2 positives in this: 1. It provides validation to your idea. Your job is somewhat reduced to validate and find a product-market fit. Remember, it

I can think of 2 positives in this: 1. It provides validation to your idea. Your job is somewhat reduced to validate and find a product-market fit. Remember, it's not a zero-sum game, there is enough room for both of you. 2. Use your competition as a baseline for your product/service. You can use the gravity/momentum from competition to catapult yourself to higher velocity or get sucked-in.