Every technology cycle leaves behind a residue of solved problems that make the same iteration of an idea both more likely to succeed and more likely to face competition. The first e-commerce companies, for example, had to figure out how to accept payments online—eBay originally assessed fees on an honor system and asked customers to mail in checks—but now third-party services solve this problem. So solving payments is no longer something founders have to think about, but it’s also one less potential competitive advantage.
