It's harder to compete on technical merit, but that doesn't mean you shouldn't do it. I'll quote Drucker again here: "Concentrate on what you're good at." At 33, you've probably got a decent amount of experience in the business world, plus some additional formal education. Work on finding and solving problems that aren't apparent to the young turks just out of college, because they don't have the work experience. I'm…
PG said it best, "build something people want": it's the hardest thing for a start up to do. So the idea of all these hidden opportunities just kills me. If someone wants to start a website that publishes these type of ideas, you'll have me as a user.