They really drive home a few points often overlooked:
Business fundamentals are really important, while not the only thing, that are a critical aspect of longevity.
Ideas are less important than execution.
Porter's 5 forces model provides some basic criteria for evaluating competition. If you provide something easy to copy and the barriers to entry are low, it could be a good idea but not a great business. In one of Sam Altman's lectures the "when to expand internationally" question is brought up. I don't want to misqoute it, so I won't. The context might have been the Samwer bros, but he gives some good insight.
Business fundamentals are really important, while not the only thing, that are a critical aspect of longevity.
Ideas are less important than execution.
Porter's 5 forces model provides some basic criteria for evaluating competition. If you provide something easy to copy and the barriers to entry are low, it could be a good idea but not a great business. In one of Sam Altman's lectures the "when to expand internationally" question is brought up. I don't want to misqoute it, so I won't. The context might have been the Samwer bros, but he gives some good insight.