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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
Sense
Inflation
Stuff
Productivity
Money
Print
Today
Happenings
Without
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Keynesian

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Long-term planning is often undervalued by our indefinite short-term world.
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Every business is successful exactly to the extent that it does something others cannot.
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A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life, but over a small and important part of the world. It begins by rejecting the unjust tyranny of Chance. You are not a lottery ticket.
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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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The something of somewhere is mostly just the nothing of nowhere.
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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.
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A company does better the less it pays the CEO.
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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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Never invest in a tech CEO that wears a suit.
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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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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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No company has a culture every company is a culture.
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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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There are still many large white spaces on the map of human knowledge. You can go discover them. So do it. Get out there and fill in the blank spaces. Every single moment is a possibility to go to these new places and explore them.
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We might describe our world as having retail sanity, but wholesale madness.
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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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Anyone who prefers owning part of your company to being paid in cash reveals a preference for the long term and a commitment to increasing your company's value in the future.
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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.
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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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Under perfect competition, in the long run no company makes an economic profit.
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