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

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There's a wide range of sales ability: there are many gradations between novices, experts, and masters. There are even sales grandmasters. If you don't know any grandmasters, it's not because you haven't encountered them, but rather because their art is hidden in plain sight.
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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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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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Education needs to be rethought. Education does not just happen in college, but it also happens in developing skills which will enable people to contribute to our society as a whole.
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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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Under perfect competition, in the long run no company makes an economic profit.
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I no longer believe that freedom and democracy are compatible.
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All failed companies are the same: they failed to escape competition.
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Of the six people who started PayPal, four had built bombs in high school.
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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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Customers won’t care about any particular technology unless it solves a particular problem in a superior way. And if you can’t monopolize a unique solution for a small market, you’ll be stuck with vicious competition.
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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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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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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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Great tech opportunities happen only once.
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Society is secretly driven by sales
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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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In the most dysfunctional organizations, signaling that work is being done becomes a better strategy for career advancement than actually doing work (if this describes your company, you should quit now).
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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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