But going back to the topic of building companies that are going into markets that are relatively slow moving and hard to technically replicate. This obviously sounds very appealing because if your first then you can win pretty well.

The hard part about this is usually there’s a reason why it’s technically really hard and the market moves really slow even though the TAM is usually really high, it’s because these markets usually take enormous amounts of capital expenditure upfront in order to set up the infrastructure required to be able to build products that serve this market.

That’s why not a lot of folks are there

"There are three ways to make a living in this business: be first, be smarter, or cheat. Now, I don't cheat. And although I like to think we have some pretty smart people in this building, it sure is a hell of a lot easier to just be first."- John Tuld