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Just found out someone else has built my app idea! (VENT)
I'm building an app that works like couples therapy using AI (Sessions, Exercises etc.). I'm ready to launch it to a group of testers (friends etc.) and I JUST FOUND out that someone has launched an extremely similar app about 3 weeks ago. Ok, their tiktoks are getting 2k views, and I believe I can out-advertise them (using organic), because I used to do social media marketing and know how to get views and sell. I believe with trial and error I can make successful videos that bring more people to my app instead of theirs. But dude, despite stressing whether it's gonna work out or not, I was happy untill now. I'm even more stressed. Now I started having second thoughts that people will not like it because it's not a sloppy app for mass-consumption by lazy people, it's an app for people who actually want to improve. And these people make up for a small perecentage of the population. Have you had similar experiences?
This is a pre-launch, solo-founder project in a crowded AI-wellness space with no current traction and low barriers to entry. While the founder's marketing background is a plus for organic growth, the lack of a technical moat and the founder's expressed doubts about market size and competitive resilience are significant red flags for a VC.