A few principles I’ve come to believe about competition: 1) You’re more likely to win or lose because of your own company’s actions than those of your competition. This is particularly true of startups but I’ve found surprisingly true at scale as well. 2) Being copied isn’t always inspiring. But it usually means you’re leading. Don’t waste energy looking over your shoulder. Lead, don’t follow. 3) There’s more to learn from customers than competitors. Consumer markets are hard, but they’re honest. Sales, engagement, and retention are the only scoreboard that matters. 4) There’s a difference between obsessing over competitors and harnessing a deeply competitive spirit. The former distracts you from your true intuition. The latter gives you the extra motivation to do your best work. 5) Creating a market is valuable. Continuing to lead after others copy you is even more valuable. You’re innovative and durable. 6) Remember big, growing markets attract competition. Competition validates the opportunity. Now go win.