I was chatting with a fellow entrepreneur last night, around the at least one competitor rule.
A companies founder that he’d invested in was worrying that there was a competitor in the space. You want at least one, as they help educate the market, they help bring a point of difference, they help sell. You don’t want to the lone soldier growing the market.
Especially when your product is iterative, it’s worrying if others aren’t reaching a similar conclusion.