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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: 56
Born: 1967
Born: October 11
Banker
Chess Player
Computer Scientist
Entrepreneur
Financier
Writer
Frankfurt/Main
Peter Andreas Thiel
Quite
Avoided
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Markets
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Existing
Fighting
Destructive
Better
Wherever
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Competition
Scraps
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Create
Overrated
More quotes by Peter Thiel
Great tech opportunities happen only once.
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Moving first is a tactic, not a goal.
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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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What important truth do very few people agree with you on?
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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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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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What nerds miss is that it takes hard work to make sales look easy.
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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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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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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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Long-term planning is often undervalued by our indefinite short-term world.
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Brilliant thinking is rare, but courage is in even shorter supply than genius.
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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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A company does better the less it pays the CEO.
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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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Higher education holds itself out as a kind of universal church, outside of which there is no salvation.
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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.
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All failed companies are the same: they failed to escape competition.
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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.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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