New Foundlands & Better Mousetraps

All startups can be divided into 2 buckets: new foundlands and better mousetraps. A new foundland is a startup that creates a new category (think AirBnB, Uber, and Netflix) while a better mousetrap startup improves upon an existing solution via better capabilities, lowering costs, etc (think Google, Facebook, Zoom and Spotify).

What are the differences between these two types of startups to be aware of?

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