--- title: "Meaning & Key Takeaway of: Competition is overrated. In practice it…" description: "\"Competition is overrated. In practice it is quite destructive and should be avoided wherever possible. Much better than fighting for scraps in existing..." image: "https://sms4smile.com/quotes/i/345/peter-thiel-1311_avoided_competition-is-overrated-in-practice-it_1754821.jpg" --- # Competition is overrated. In practice it is quite… ![“Competition is overrated. In practice it is quite destructive and should be avoided wherever possible. Much better than fighting for scraps in existing markets is to create and own new ones.” quote by Peter Thiel](https://sms4smile.com/quotes/i/345/peter-thiel-1311_avoided_competition-is-overrated-in-practice-it_1754821.jpg) [Download](https://sms4smile.com/quotes/i/345/peter-thiel-1311_avoided_competition-is-overrated-in-practice-it_1754821.jpg) [Open image](https://sms4smile.com/quotes/i/345/peter-thiel-1311_avoided_competition-is-overrated-in-practice-it_1754821.jpg) > “Competition is overrated. In practice it is quite destructive and should be avoided wherever possible. Much better than fighting for scraps in existing markets is to create and own new ones.” [Peter Thiel](https://sms4smile.com/quotes/author/peter-thiel/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. Competition often wastes resources; creating unique markets yields greater value. **In simple terms:** Competing is costly; innovate instead. Key Takeaway Focus on creating new markets. Themes innovation competition strategy Mood strategic optimistic Type business motivational When to use this quote - startup planning - product development - market analysis Key Concepts economics entrepreneurship Questions to Reflect On - What unique value can you offer? - How to identify untapped markets? A Different Perspective New markets can still face hidden competition. ★ ★ ★ ★ ★ No ratings yet [Avoided](https://sms4smile.com/quotes/about/avoided/) [Competition](https://sms4smile.com/quotes/about/competition/) [Competition Overrated](https://sms4smile.com/quotes/about/competition-overrated-1637399/) [Destructive](https://sms4smile.com/quotes/about/destructive/) [Existing Markets](https://sms4smile.com/quotes/about/existing-markets-1637400/) [Fighting](https://sms4smile.com/quotes/about/fighting/) [Fighting Scraps](https://sms4smile.com/quotes/about/fighting-scraps-1607385/) [Investing](https://sms4smile.com/quotes/about/investing/) [Markets Create](https://sms4smile.com/quotes/about/markets-create-896088/) [Overrated](https://sms4smile.com/quotes/about/overrated/) [Practice](https://sms4smile.com/quotes/about/practice/) [Scrap](https://sms4smile.com/quotes/about/scrap/) [Should](https://sms4smile.com/quotes/about/should/) ## Related quotes > [I was raised in the Depression, when there was a great sense of dog-eat-dog and people fighting over scraps.](https://sms4smile.com/quotes/john-updike/i-was-raised-in-the-depression-when-there-was-a-great-sense-of-dog/) [John Updike](https://sms4smile.com/quotes/author/john-updike/) > [It is harder to explain why free markets create wealth than it is to pander to workers who have been displaced by global competition.](https://sms4smile.com/quotes/charlie-sykes/it-is-harder-to-explain-why-free-markets-create-wealth-than-it-is-to/) [Charlie Sykes](https://sms4smile.com/quotes/author/charlie-sykes/) > [We should preserve every scrap of biodiversity as priceless while we learn to use it and come to understand what it means to humanity.](https://sms4smile.com/quotes/e-o-wilson/we-should-preserve-every-scrap-of-biodiversity-as-priceless-while-we/) [E. 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