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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
Economic
Company
Perfect
Running
Makes
Long
Profit
Competition

More quotes by Peter Thiel

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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
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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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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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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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No company has a culture every company is a culture.
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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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A lot of the key to Apple's succes is Designing technology in order to hide it.
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Recruiting is a core competency for any company. It should never be outsourced.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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If people were super-optimistic about technology there would be no reason to be pessimistic about the future.
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Higher education holds itself out as a kind of universal church, outside of which there is no salvation.
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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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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
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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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Anti-aging is an extremely under-explored field.
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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.
Peter Thiel
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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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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.
Peter Thiel
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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