[tomhoward]

They also all got started several decades ago when there were huge new blue ocean opportunities to pursue and much less competition for capital. And other many competitors have failed along the way. (Remember Amiga, Wang, Gateway, many others from the 80s and 90s).

The main issue now is competition for capital: the majority of tech investors regard software startups as much safer paths to huge returns. Whether they’re right or wrong in any individual case is a separate issue; they’re playing the percentages.