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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
Company
Perfect
Running
Makes
Long
Profit
Competition
Economic
More quotes by Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
The something of somewhere is mostly just the nothing of nowhere.
Peter Thiel
If you can identify a delusional popular belief, you can find what lies hidden behind it: the contrarian truth.
Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
My own answer to the contrarian question is that most people think the future of the world will be defined by globalization, but the truth is that technology matters more.
Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
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.
Peter Thiel
Twitter is hard to evaluate. They have a lot of potential. It's a horribly mismanaged company — probably a lot of pot-smoking going on there. But it's such a solid franchise it may even work with all that.
Peter Thiel
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.
Peter Thiel
All failed companies are the same: they failed to escape competition.
Peter Thiel
Of the six people who started PayPal, four had built bombs in high school.
Peter Thiel
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.
Peter Thiel
We cannot take for granted that the future will be better, and that means we need to work to create it today.
Peter Thiel
Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
Peter Thiel
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.
Peter Thiel
