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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.
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
Kind
World
Businesses
Kinds
Competition
Crazy
Two
More quotes by Peter Thiel
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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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 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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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.
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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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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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Long-term planning is often undervalued by our indefinite short-term world.
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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.
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What nerds miss is that it takes hard work to make sales look easy.
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We cannot take for granted that the future will be better, and that means we need to work to create it today.
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Consider the trivial but revealing hallmarks of urban hipsterdom: faux vintage photography, the handlebar mustache, and vinyl record players all hark back to an earlier time when people were still optimistic about the future. If everything worth doing has already been done, you may as well feign an allergy to achievement and become a barista.
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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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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.
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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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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.
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There is perhaps no specific time that is necessarily right to start your company or start your life. But some times and some moments seem more auspicious than others. Now is such a moment. If we don’t take charge and usher in the future - if you don’t take charge of your life - there is the sense that no one else will.
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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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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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