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Under perfect competition, in the long run no company makes an economic profit.

Peter Thiel

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Peter Thiel
Age: 56
Born: 1967
Born: October 11
Banker
Chess Player
Computer Scientist
Entrepreneur
Financier
Writer
Frankfurt/Main
Peter Andreas Thiel
Long
Profit
Competition
Economic
Company
Perfect
Running
Makes

More quotes by Peter Thiel

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University administrators are the equivalent of subprime mortgage brokers selling you a story that you should go into debt massively, that it's not a consumption decision, it's an investment decision. Actually, no, it's a bad consumption decision. Most colleges are four-year parties.
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Long-term planning is often undervalued by our indefinite short-term world.
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The something of somewhere is mostly just the nothing of nowhere.
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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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Of the six people who started PayPal, four had built bombs in high school.
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Anti-aging is an extremely under-explored field.
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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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I think anything that requires real global breakthroughs requires a degree of intensity and sustained effort that cannot be done part time, so it's something you have to do around the clock, and that doesn't compute with our existing educational system.
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Never invest in a tech CEO that wears a suit.
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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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I no longer believe that freedom and democracy are compatible.
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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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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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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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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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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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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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Today's 'best practices' lead to dead ends the best paths are new and untried.
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What important truth do very few people agree with you on?
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