Everytime we have an entrepreneur pitch us, a version of this question comes up: "What happens if BigCoXYZ decides to enter this area?" We usually know the answer, and already think it's a stupid question, but it keeps coming up over and over again. Then, the same question gets brought up in the investment committee meetings.
In doing what we do, you have to learn to be comfortable with the incumbent question. In the following video, Kevin Ryan does a good job explaining what we think.