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People don't want to believe that technology is broken. Pharmaceuticals, robotics, artificial intelligence, nanotechnology - all these areas where the progress has been a lot more limited than people think. And the question is why.
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
People
Intelligence
Broken
Progress
Pharmaceuticals
Question
Nanotechnology
Technology
Robotics
Believe
Artificial
Think
Limited
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Areas
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All failed companies are the same: they failed to escape competition.
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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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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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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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Long-term planning is often undervalued by our indefinite short-term world.
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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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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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The something of somewhere is mostly just the nothing of nowhere.
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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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A company does better the less it pays the CEO.
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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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We might describe our world as having retail sanity, but wholesale madness.
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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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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
