The Nature of Competition

Sean Flaherty
The Startup
Published in
6 min readApr 8, 2020

Experience is what creates a sustainable competitive advantage. This is the nature of competition.

Speed, Quality, Price, Features and Other Factors as pieces in an Experience Puzzle
The Experience Puzzle

Economists have argued for centuries about the nature of competition.

According to Adam Smith in the 18th century, every individual “intends only his own gain.” Therefore, he exchanges what he produces with others who sufficiently value what he has to offer. One thing many economists agree on is…