For startups, there is no step two.
don't blame the player, blame the game.
But the analysis has a selection bias. For one, Looker did not start as a BI tool. By Seed Round, it did not even have dashboards.
And some companies started as something else entirely: Outreach.io (workforce management tool), Slack (Game company), etc.
While in hindsight everything is very clear, when you're in it, the markets look small (Fivetran & ETL, Slack & Chat, Salesforce & CRM), categories are not as clear cut, and the past is a poor predictor of the future.