To quit or not to quit

BTW this was inpired by the FB clubhouse clone artictle on tech crunch the other day

you refine your problem, to serve a specific subset of your original target customers. when slack started they knew they would lose (to microsoft) selling to corporations as their main business communication system, so they focused on individual teams. Also Twitch was born of focusing on a subset of their original users (from anyone that wanted to live stream to gamers)

You should keep going

You can't take for granted that your idea is good, that people will pay for your solution, or even that the problem which you aim to solve is real. In essence, build something that your intended users can use ASAP.

I would also go for it! If Facebook is onto the same thing, it's likely that you have a good product market fit. As people said before, key is to find your own product and not just copy what they did or do or will do. Focus on your product and be inspired instead of devastated

Hey. First, try Facebook's one and then disrupt it with yours but new perspectives (: but the point is keep going, my opinion. May the force.., you know that..

keep on going

It can be frustrating when a competitor with seemingly unlimited resources pushes their way into your space. However, you can also view it as justification of what you are building. Get to know their product and its weaknesses and try to fill in the gaps with your own product. You can often find public message boards where customers are complaining about missing features and long running defects. Use these gaps to fuel your product and attract some of their customers.

great

Keep going if you can afford it financially. Difficult decision but if you do the marketing right, it can take off.