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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.
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
Able
Window
Come
Build
Would
Decided
Time
Stay
People
Started
Probably
Company
Graduated
Gone
Harvard
More quotes by Peter Thiel
If you can identify a delusional popular belief, you can find what lies hidden behind it: the contrarian truth.
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A company does better the less it pays the CEO.
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As an investor-entrepreneur, I’ve always tried to be contrarian, to go against the crowd, to identify opportunities in places where people are not looking.
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I'm skeptical of a lot of what falls under the rubric of education.... People are on these tracks. They are getting these credentials and it's very unclear how viable they are in many cases.
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If people were super-optimistic about technology there would be no reason to be pessimistic about the future.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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Twitter is hard to evaluate. They have a lot of potential. It's a horribly mismanaged company — probably a lot of pot-smoking going on there. But it's such a solid franchise it may even work with all that.
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American government is not dominated by engineers, it is dominated by lawyers. Engineers are interested in substance and building things lawyers are interested in process and rights and getting the ideology correctly blended. And so there is sort of no really concrete plan for the future.
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There's been a lot companies that have shown zero to one kind of growth in the computer, internet software age. Facebook and Google are zero to one companies. Apple's iPhone was the first smartphone that really works, and of course, then you scale it horizontally, but the vertical component was really critical. Space X would also be one.
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The something of somewhere is mostly just the nothing of nowhere.
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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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We cannot take for granted that the future will be better, and that means we need to work to create it today.
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As you craft a plan to expand to adjacent markets, don't disrupt: Avoid competition as much as possible.
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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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Under perfect competition, in the long run no company makes an economic profit.
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No company has a culture every company is a culture.
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Every business is successful exactly to the extent that it does something others cannot.
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Today's 'best practices' lead to dead ends the best paths are new and untried.
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Competition is overrated. In practice it is quite destructive and should be avoided wherever possible. Much better than fighting for scraps in existing markets is to create and own new ones.
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Technology is probably the single biggest driver of productivity gains for the developed countries. For example, I think it's much more important than free trade.
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