According to Andy Rachleff, a General Partner at Benchmark (top tier VC firm), usually the startup first to product market fit is worth significantly more that

According to Andy Rachleff, a General Partner at Benchmark (top tier VC firm), usually the startup first to product market fit is worth significantly more that all its competitors combined. Assuming this is true, the OP's "competition destroying big hits" thesis is incorrect. Source: https://blog.wealthfront.com/demystifying-venture-capital-economics-part-3/ https://blog.wealthfront.com/demystifying-venture-capital-ec...