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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

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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
Practice
Existing
Fighting
Destructive
Better
Wherever
Much
Competition
Scraps
Ones
Scrap
Create
Overrated
Quite
Avoided
Possible
Markets

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I no longer believe that freedom and democracy are compatible.
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Recruiting is a core competency for any company. It should never be outsourced.
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Society is secretly driven by sales
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What valuable company is nobody building?
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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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If you can identify a delusional popular belief, you can find what lies hidden behind it: the contrarian truth.
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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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Higher education holds itself out as a kind of universal church, outside of which there is no salvation.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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There's been a lot companies that have shown zero to one kind of growth in the computer, internet software age. Facebook and Google are zero to one companies. Apple's iPhone was the first smartphone that really works, and of course, then you scale it horizontally, but the vertical component was really critical. Space X would also be one.
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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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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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Rivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
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