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Trail link: http://trailfire.com/stefan/trails/9586
Summary: http://trailfire.com/stefan/trailview/9586
Summary: http://trailfire.com/stefan/trailview/9586
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"[...] you launch with 15% of your total end user solution, and spend much longer that you thought shipping the remaining 85% - Which has to take longer because you now have to take care of your operational website and business [...]"
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The key here is Fred's claim that investors should shy away from VCs that fund the second tier of companies. That advice is all the stronger when viewed from the angle of a founder or a startup employee - if you're not the first or second with an idea, then 10x success is highly unlikely - at which point you're not really playing the game anymore, since you've all but eliminated your chance of pulling out more than just your salary. So don't bother to cook up copycat products unless you're confident that you can cut costs sharply enough that you won't need VC funding. Of course, at that point you're really doing something altogether new - so, just stay away from copycatting, period :)
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Fred Wilson harps some more on the copycat issue.
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