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All failed companies are the same: they failed to escape competition.

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
Competition
Company
Failed
Escape
Companies

More quotes by Peter Thiel

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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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In the most dysfunctional organizations, signaling that work is being done becomes a better strategy for career advancement than actually doing work (if this describes your company, you should quit now).
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I no longer believe that freedom and democracy are compatible.
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Customers won’t care about any particular technology unless it solves a particular problem in a superior way. And if you can’t monopolize a unique solution for a small market, you’ll be stuck with vicious competition.
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What important truth do very few people agree with you on?
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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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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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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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There's a wide range of sales ability: there are many gradations between novices, experts, and masters. There are even sales grandmasters. If you don't know any grandmasters, it's not because you haven't encountered them, but rather because their art is hidden in plain sight.
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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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The developing world can just do things that are extensive or horizontal, that basically copy. The developed world needs to do things that are intensive or vertical, where we take our civilization to the next level.
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We might describe our world as having retail sanity, but wholesale madness.
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I think in my twenties I tended to think of all people as sort of more or less alike. In now think that people are really different in all these subtle ways that are very important.
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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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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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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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As you craft a plan to expand to adjacent markets, don't disrupt: Avoid competition as much as possible.
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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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Of the six people who started PayPal, four had built bombs in high school.
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A company does better the less it pays the CEO.
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