Why many products struggle, and only a few succeed

Nick Quah shared this in a recent newsletter:

[I have] this feeling that everybody’s drilling for oil in the same spot because some other guy found oil there already.

It’s human nature: when we hear that someone else has found gold, we all rush to that same spot, hoping to hit it big too.

But, as we saw with the real gold rush, that strategy rarely works.

Nick thinks makers have two options:

Build something that does the same thing for the same audience, but do it better. If this is the case...