COMPETITION IS NOT MARKET VALIDATION

Summary from the TLDR Dev newsletter

A high level of competition in a startup market does not automatically equate to market validation or a large, viable opportunity. Often, such crowded spaces arise from an oversupply of investment money, an abundance of founders and easily reproducible ideas, or readily available low-cost infrastructure. Conversely, crowded markets can also signify fragmented needs better served by consulting, or perfectly efficient markets where products are commoditized and profits are slim.