The competition between ChatGPT and Claude is the perfect example of SaaS competition.
No matter how great you are, someone else may come from nowhere and create a better version than your product.
1 month ago, ChatGPT 4-O blew our minds with its new announcement. 2 weeks ago, that same technology became a "meh" because Anthropic's Claude was a lot better than ChatGPT.
This can teach us 2 lessons:
1- No matter how big you are or how much people love your product, someone else can build a better product than yours.
2- No matter how big your competitors are, if your product is better, people will switch to your product.