I run a music "startup" that is in the "extremely saturated" space he is describing. We're now 7 years old, have 10 employees and have been profitable since 20

I run a music "startup" that is in the "extremely saturated" space he is describing. We're now 7 years old, have 10 employees and have been profitable since 2005 with no VC. There are many opportunities in the music startups, just as in other industries. Find a market need. Test your product, and iterate quickly. In our case, we found that by bundling a website builder with tools to promote and sell music is something that musicians want to pay for. We're not the only one, there are many profitable companies in this space.