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In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.
Peter Thiel
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Peter Thiel
Age: 57
Born: 1967
Born: October 11
Banker
Chess Player
Computer Scientist
Entrepreneur
Financier
Writer
Frankfurt/Main
Peter Andreas Thiel
Wealth
Growing
Away
Next
Money
Problem
Doubling
Years
Printing
World
Debt
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What important truth do very few people agree with you on?
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Had the people who started Facebook decided to stay at Harvard, they would not have been able to build the company, and by the time they graduated in 2006, that window probably would have come and gone.
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The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete. You want to create a monopoly. We want to invest in a company that has a good plan to create a monopoly.
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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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All failed companies are the same: they failed to escape competition.
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People don't want to believe that technology is broken. Pharmaceuticals, robotics, artificial intelligence, nanotechnology - all these areas where the progress has been a lot more limited than people think. And the question is why.
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Under perfect competition, in the long run no company makes an economic profit.
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In the '30s, the Keynesian stuff worked at least in the sense that you could print money without inflation because there was all this productivity growth happening. That's not going to work today.
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A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but over a small and important part of the world. It begins by rejecting the unjust tyranny of Chance. You are not a lottery ticket.
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Higher education holds itself out as a kind of universal church, outside of which there is no salvation.
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Recruiting is a core competency for any company. It should never be outsourced.
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If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily a well-defined market to pay people.
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What nerds miss is that it takes hard work to make sales look easy.
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When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.
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Education needs to be rethought. Education does not just happen in college, but it also happens in developing skills which will enable people to contribute to our society as a whole.
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Today's 'best practices' lead to dead ends the best paths are new and untried.
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There are still many large white spaces on the map of human knowledge. You can go discover them. So do it. Get out there and fill in the blank spaces. Every single moment is a possibility to go to these new places and explore them.
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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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In the U.S., we fundamentally need to do new things, which I think is harder for the government to do. And moreover, it is not something our government actually is inclined to particularly do.
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