Nonsense. First, I'm sure that Patrick does have competition in his niche (a simple Google for "bingo card software" reveals a litany of options). Second, having no competition is a big warning sign that perhaps that niche isn't a great one to go into. Third, you would be well-advised to avoid niches that are highly over-competitive. Finally, most businesses are pretty terrible, and not all that hard to run circles around, especially if you follow some of Patrick's advice here (I'm thinking particularly of the stuff regarding time debt and building repeatable processes).