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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.

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
Work
Growth
Least
Keynesian
Sense
Inflation
Stuff
Productivity
Money
Print
Today
Happenings
Without
Happening
Going
Worked

More quotes by Peter Thiel

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Of the six people who started PayPal, four had built bombs in high school.
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The developing world can just do things that are extensive or horizontal, that basically copy. The developed world needs to do things that are intensive or vertical, where we take our civilization to the next level.
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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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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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All failed companies are the same: they failed to escape competition.
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A true bubble is when something is overvalued and intensely believed. Education may be the only thing people still believe in in the United States. To question education is really dangerous. It is the absolute taboo. It's like telling the world there's no Santa Claus.
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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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Long-term planning is often undervalued by our indefinite short-term world.
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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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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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Every business is successful exactly to the extent that it does something others cannot.
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Anti-aging is an extremely under-explored field.
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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.
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The zero-sum world [the movie The Social Network] portrayed has nothing in common with the Silicon Valley I know, but I suspect it's a pretty accurate portrayal of the dysfunctional relationships that dominate Hollywood.
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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.
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What important truth do very few people agree with you on?
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The business model piece is we're always talking about competing more effectively. If you're starting a company or career you don't want to compete. You want to create a monopoly. We want to invest in a company that has a good plan to create a monopoly.
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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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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 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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