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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 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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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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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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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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Thinking about how disturbingly herdlike people become in so many different contexts - mimetic theory forces you to think about that, which is knowledge that's generally suppressed and hidden. 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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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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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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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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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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As you craft a plan to expand to adjacent markets, don't disrupt: Avoid competition as much as possible.
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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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Every business is successful exactly to the extent that it does something others cannot.
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I think somehow people should be encouraged to think about a very long time horizon and I think this is true for businesses, it's true for governments and it's true for people doing things in the non-profit sector.
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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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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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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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Never invest in a tech CEO that wears a suit.
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No company has a culture every company is a culture.
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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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Technology and capitalism are very much linked. I think that capitalism probably works best in a technologically progressing society.
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