It already happens. If you fund as many companies as we do it's unavoidable you'll end up with some overlap. Even if you tried not to accept competing companies, you'd still get overlap because startups' ideas morph so much. So the way we deal with it is that when two startups are working on related stuff, we don't talk to one about what the other's doing.
In practice it turns out not to be as big a problem as one might think, because most big markets have room for several slightly different solutions, and it's unlikely that two startups would end up doing precisely the same thing.
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[ 2.8 ms ] story [ 7.7 ms ] threadIn practice it turns out not to be as big a problem as one might think, because most big markets have room for several slightly different solutions, and it's unlikely that two startups would end up doing precisely the same thing.