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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
Failed
Escape
Companies
Competition
Company

More quotes by Peter Thiel

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There are only two kinds of businesses in this world: Businesses in crazy competition, and businesses that are one of a kind.
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We might describe our world as having retail sanity, but wholesale madness.
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Recruiting is a core competency for any company. It should never be outsourced.
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A company does better the less it pays the CEO.
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What valuable company is nobody building?
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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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Under perfect competition, in the long run no company makes an economic profit.
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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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Anyone who prefers owning part of your company to being paid in cash reveals a preference for the long term and a commitment to increasing your company's value in the future.
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The zero-sum world [the movie The Social Network] portrayed has nothing in common with the Silicon Valley I know, but I suspect it's a pretty accurate portrayal of the dysfunctional relationships that dominate Hollywood.
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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.
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Every university…seem[s] to reassure you that ‘it doesn’t matter what you do, as long as you do it well.’ That is completely false. It does matter what you do. You should focus relentlessly at something you’re good at doing, but before that you must think hard about whether it will be valuable in the future.
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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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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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There is perhaps no specific time that is necessarily right to start your company or start your life. But some times and some moments seem more auspicious than others. Now is such a moment. If we don’t take charge and usher in the future - if you don’t take charge of your life - there is the sense that no one else will.
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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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What important truth do very few people agree with you on?
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Consider the trivial but revealing hallmarks of urban hipsterdom: faux vintage photography, the handlebar mustache, and vinyl record players all hark back to an earlier time when people were still optimistic about the future. If everything worth doing has already been done, you may as well feign an allergy to achievement and become a barista.
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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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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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