> You're also competing with multinationals that can exploit tax loopholes and attract tax incentives and grants.

Not only that, but often with whole government backed companies where the government will gladly support them and even participate in espionage to gain competitive advantages. Huawei is the classic example, but is just the tip of the iceberg.

Meanwhile in most of the western world, executives are focusing on the next quarterly results...

Competition is for losers. All you have to do is create value in an entirely new niche category that you will own by offering something that didn’t exist before and that people want.

Till the multinational corporation with deep pockets decides to go after your niche. They don't have to be profitable inside that niche, while you have to.

Who have also captured regulators and politicians and use them to cement their advantage by making things too costly and difficult for new startups to compete.