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I think somehow people should be encouraged to think about a very long time horizon and I think this is true for businesses, it's true for governments and it's true for people doing things in the non-profit sector.
Peter Thiel
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Peter Thiel
Age: 56
Born: 1967
Born: October 11
Banker
Chess Player
Computer Scientist
Entrepreneur
Financier
Writer
Frankfurt/Main
Peter Andreas Thiel
Long
Encouraged
Things
Businesses
Time
Horizon
Think
Governments
Thinking
Somehow
People
Profit
True
Government
Sector
More quotes by Peter Thiel
All failed companies are the same: they failed to escape competition.
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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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Great tech opportunities happen only once.
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The something of somewhere is mostly just the nothing of nowhere.
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Of the six people who started PayPal, four had built bombs in high school.
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American government is not dominated by engineers, it is dominated by lawyers. Engineers are interested in substance and building things lawyers are interested in process and rights and getting the ideology correctly blended. And so there is sort of no really concrete plan for the future.
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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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Recruiting is a core competency for any company. It should never be outsourced.
Peter Thiel
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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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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The best entrepreneurs know this: every great business is built around a secret that’s hidden from the outside. A great company is a conspiracy to change the world when you share your secret, the recipient becomes a fellow conspirator.
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Technology and capitalism are very much linked. I think that capitalism probably works best in a technologically progressing society.
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What important truth do very few people agree with you on?
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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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What nerds miss is that it takes hard work to make sales look easy.
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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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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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People working on bigger ideas on a more protracted timeline will be more on the stealth side. They aren’t releasing new PR announcements every day. The bigger the secret and the likelier it is that you alone have it, the more time you have to execute. There may be far more people going after hard secrets than we think.
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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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Distribution may not matter in fictional worlds, but it matters in most. The Field of Dreams conceit is especially popular in Silicon Valley, where engineers are biased toward building cool stuff rather than selling it. But customers will not come just because you build it. You have to make this happen, and it's harder than it looks.
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