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We might describe our world as having retail sanity, but wholesale madness.

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
World
Wholesale
Retail
Sanity
Describe
Madness
Might

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Society is secretly driven by sales
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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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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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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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You'll attract the employees you need if you can explain why your mission is compelling: not why it's important in general, but why you're doing something important that no one else is going to get done.
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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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The most successful businesses have an idea for the future that's very different from the present.
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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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I think we have a bubble in the US in government bonds, because of the quantitative easing and the negative real interest rates, and to some extent, that increases asset values across the board, including in startups.
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I believe we are in a world where innovation in stuff was outlawed. It was basically outlawed in the last 40 years - part of it was environmentalism, part of it was risk aversion.
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For Hamlet, greatness means willingness to fight for reasons as thin as an eggshell: anyone would fight for things that matter true heroes take their personal honor so seriously they will fight for things that don’t matter.
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Distribution may not matter in fictional worlds, but it matters in most. The Field of Dreams conceit is especially popular in Silicon Valley, where engineers are biased toward building cool stuff rather than selling it. But customers will not come just because you build it. You have to make this happen, and it's harder than it looks.
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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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Technology and capitalism are very much linked. I think that capitalism probably works best in a technologically progressing society.
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What nerds miss is that it takes hard work to make sales look easy.
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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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The best entrepreneurs know this: every great business is built around a secret that’s hidden from the outside. A great company is a conspiracy to change the world when you share your secret, the recipient becomes a fellow conspirator.
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Long-term planning is often undervalued by our indefinite short-term world.
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A true bubble is when something is overvalued and intensely believed. Education may be the only thing people still believe in in the United States. To question education is really dangerous. It is the absolute taboo. It's like telling the world there's no Santa Claus.
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There are many more secrets in the world that are waiting to be found. The question of how many secrets exist in our world is roughly equivalent to how many startups people should start.
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