I disagree with his assessment on rabbits. I get his point, but his example doesn't stand: He went elephant hunting and then blamed the rabbits for running away

I disagree with his assessment on rabbits. I get his point, but his example doesn't stand: He went elephant hunting and then blamed the rabbits for running away. His piece on conquering markets that already have rabbit hunters in them is more accurate. That's the key right there though: if you want to hunt rabbits, a good evaluator of success will be that you're the only person hunting these particular rabbits, or you're hunting rabbits in a unique way that is more effective. Hunting rabbits can only be done with "blue ocean" style strategies.