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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
Better
Wherever
Much
Competition
Scraps
Ones
Scrap
Create
Overrated
Quite
Avoided
Possible
Markets
Practice
Existing
Fighting
Destructive
More quotes by Peter Thiel
Big part of the challenge to innovation is that people too easily resign themselves to dying.
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Recruiting is a core competency for any company. It should never be outsourced.
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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 most successful businesses have an idea for the future that's very different from the present.
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Of the six people who started PayPal, four had built bombs in high school.
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What nerds miss is that it takes hard work to make sales look easy.
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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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You'll attract the employees you need if you can explain why your mission is compelling: not why it's important in general, but why you're doing something important that no one else is going to get done.
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There are only two kinds of businesses in this world: Businesses in crazy competition, and businesses that are one of a kind.
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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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Long-term planning is often undervalued by our indefinite short-term world.
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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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Great tech opportunities happen only once.
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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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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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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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No company has a culture every company is a culture.
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We might describe our world as having retail sanity, but wholesale madness.
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The zero-sum world [the movie The Social Network] portrayed has nothing in common with the Silicon Valley I know, but I suspect it's a pretty accurate portrayal of the dysfunctional relationships that dominate Hollywood.
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