[fionic]

I’d say it’s roughly still true it just looks different than a very traditional sense. “Undercutting” happens in different ways now - while some entrepreneurs don’t care to compete in commodity markets and compete in tech since it’s not as messy and scales more easily. In tech people can be sold products for “free” and it’s all about their data. But for commodities for example to start an egg/dairy farm you need land and lots of physical resources. So these days a lot of times instead of competing with the egg farmers or dairy directly, entrepreneurs are making faux eggs/dairy. So instead of a new farm they’ve invented a “new” egg/dairy and so instead of undercutting they’re actually charging more for it since it’s a premium product now and “healthier” or is saving the planet/backed by an expensive mission.