There is an inherent fear of competition in business. So many people hide information about their companies in fear of competitors learning secrets. And in some industries, that makes a lot of sense. When you are developing a brand new technology, protecting it from competitors is unbelievably important. In 2001, the U.S. Department of Justice published a report that said “economic espionage costs the United States $100 billion each year in lost market share.” So, I completely get why businesses are afraid of competition.
But media businesses are unique in that their fear of competition is almost entirely a waste of energy. On the contrary, I would argue that competition is exactly what you want to see in media for two reasons. First, it acts as a massive validator. And second, it keeps you paranoid enough to not get complacent.
