"Drew Houston turned to an investor who dismissed the idea & asked 'Do you use any file sharing service?. The answer was 'No'"
This is GOLD. Drew probably found the competitive edge by figuring out why the investor didn't use those other file sharing service and fixed that investor's pain
It's a nice reply but IMHO it works only if your investors are (a subset of) your typical customer base. Do you think you can use the same approach if you're pitching a new service for, let's say wedding spouses, or even pregnant women, and you're in front of 5 alpha males?
This is GOLD. Drew probably found the competitive edge by figuring out why the investor didn't use those other file sharing service and fixed that investor's pain