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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: 57
Born: 1967
Born: October 11
Banker
Chess Player
Computer Scientist
Entrepreneur
Financier
Writer
Frankfurt/Main
Peter Andreas Thiel
Makes
Long
Profit
Competition
Economic
Company
Perfect
Running

More quotes by Peter Thiel

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What important truth do very few people agree with you on?
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I no longer believe that freedom and democracy are compatible.
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People don't want to believe that technology is broken. Pharmaceuticals, robotics, artificial intelligence, nanotechnology - all these areas where the progress has been a lot more limited than people think. And the question is why.
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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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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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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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As you craft a plan to expand to adjacent markets, don't disrupt: Avoid competition as much as possible.
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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 something of somewhere is mostly just the nothing of nowhere.
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Never invest in a tech CEO that wears a suit.
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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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Long-term planning is often undervalued by our indefinite short-term world.
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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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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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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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I'm always very excited about trying to do something on next-generation biotechnology and life sciences because I think if we can cure cancer or dementia, we can really make the future a lot better and I think these things are eminently doable.
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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.
Peter Thiel
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We might describe our world as having retail sanity, but wholesale madness.
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A lot of the key to Apple's succes is Designing technology in order to hide it.
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Anti-aging is an extremely under-explored field.
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