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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
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More quotes by Peter Thiel
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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A company does better the less it pays the CEO.
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Every business is successful exactly to the extent that it does something others cannot.
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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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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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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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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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Today's 'best practices' lead to dead ends the best paths are new and untried.
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No company has a culture every company is a culture.
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There are many more secrets in the world that are waiting to be found. The question of how many secrets exist in our world is roughly equivalent to how many startups people should start.
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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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When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.
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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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Long-term planning is often undervalued by our indefinite short-term world.
Peter Thiel
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.
Peter Thiel
We might describe our world as having retail sanity, but wholesale madness.
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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.
Peter Thiel
The developing world can just do things that are extensive or horizontal, that basically copy. The developed world needs to do things that are intensive or vertical, where we take our civilization to the next level.
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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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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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