> This is also true of advertising, startups in crowded 
  > fields, and businesses with high brand recognition.

Peter Thiel has an interesting stance about startups in crowded fields. He argues that you should pick a niche with little competition and own that niche completely. While growing from that always avoid competition and aim for a monopoly.

Lecture 5 - Competition is for Losers (Peter Thiel)

https://www.youtube.com/watch?v=5_0dVHMpJlo

Transcript:

http://genius.com/Peter-thiel-lecture-5-business-strategy-an...

Previous discussion:

https://news.ycombinator.com/item?id=8310301