I don't know about this, if you're a new business trying to do something similar to an existing competitor that's well known and well liked, that's a big compet

I don't know about this, if you're a new business trying to do something similar to an existing competitor that's well known and well liked, that's a big competitive advantage and barrier to entry for newcomers. Mindshare isn't very easily quantifiable, but it's very real. But maybe the barriers to entry you're talking about that VCs fret over are more traditional things that just don't really apply to the internet.