I see what you mean, and this would probably be good for society (you are supposedly replacing something with a better version). Granted if you could identify a

I see what you mean, and this would probably be good for society (you are supposedly replacing something with a better version). Granted if you could identify a different undeveloped business, you may have more to gain individually. Imagine there is company A pursuing market A', if company B decides to pursue A', then A and B have to split the value of A'. Rather, B can pursue B', and if |A'| ~ |B'|, then there could be more to gain by not being competitive. If B(A') < |B'| then this still holds true (where B of A' is a function of how much value of A' that B can realize). In the finite world that we live in, there can only be so many A', B' or X', so this strategy may eventually much more in favor of competition. What I believe Thiel has identified is that we haven't reached that stage yet, or even that it's improbable that we will ever reach that stage.