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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.

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
Real
Extent
Quantitative
Think
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Bonds
Thinking
Across
Asset
Including
Bubble
Negative
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Interest
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Values
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Government
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Easing

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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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I no longer believe that freedom and democracy are compatible.
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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.
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I'm skeptical of a lot of what falls under the rubric of education.... People are on these tracks. They are getting these credentials and it's very unclear how viable they are in many cases.
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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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Every university…seem[s] to reassure you that ‘it doesn’t matter what you do, as long as you do it well.’ That is completely false. It does matter what you do. You should focus relentlessly at something you’re good at doing, but before that you must think hard about whether it will be valuable in the future.
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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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What important truth do very few people agree with you on?
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If you think about basic science or coming up with new theories of mathematics, these are not the kinds of things which are necessarily a well-defined market to pay people.
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Had the people who started Facebook decided to stay at Harvard, they would not have been able to build the company, and by the time they graduated in 2006, that window probably would have come and gone.
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In a world where wealth is growing, you can get away with printing money. Doubling the debt over the next 20 years is not a problem.
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A true bubble is when something is overvalued and intensely believed. Education may be the only thing people still believe in in the United States. To question education is really dangerous. It is the absolute taboo. It's like telling the world there's no Santa Claus.
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Big part of the challenge to innovation is that people too easily resign themselves to dying.
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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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Anti-aging is an extremely under-explored field.
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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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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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Technology is probably the single biggest driver of productivity gains for the developed countries. For example, I think it's much more important than free trade.
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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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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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