Naval Ravikant is an entrepreneur, investor and co-founder, chairman and former CEO of AngelList. He has invested in over 100 companies including Uber, FourSquare, Twitter, SnapLogic, Yammer and Clearview. "Play Stupid Games, Win Stupid Prizes" is the title of an episode from his revered podcast show How To Get Rich Without Getting Lucky. In it, he discusses the pitfalls of getting caught up in short games in an attempt to out-do your competition:
"If I’m opening a restaurant and a more interesting version of the same restaurant opens in a different town, that’s fantastic. I’m going to copy what’s working and drop what’s not working. So it depends on the nature of the business. Often, businesses that seem to be in direct competition really aren’t. They end up adjacent or slightly different. You’re one step away from a completely different business, and sometimes you need to take that step. You’re not going to take it if you’re busy fighting over a booby prize. You’re playing a stupid game. You’re going to win a stupid prize. It’s not obvious right now because you’re blinded by competition. But three years from now, it’ll be obvious."
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Quote by Naval Ravikant