Quotes on Future Build-up:
All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.
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.
The most contrarian thing of all is not to oppose the crowd but to think for yourself.
You should focus relentlessly on something you’re good at doing, but before that you must think hard about whether it will be valuable in the future.
I don’t think it makes sense to destroy them. Preserve them, study them instead.
We should recognize that success cannot be reduced to the overall size of the budget: Spending money and solving problems are not the same thing.
It’s always a mistake to be too focused on prestige and status…I would always be long substance, short status.
The biggest secret in venture capital is that the best investment in a successful fund equals or outperforms the entire rest of the fund combined.
Education has become a substitute for thinking about the future.
The single greatest danger for a founder is to become so certain of his own myth that he loses his mind.
"All salesmen are actors: their priority is persuasion, not sincerity.”
Quotes on Business:
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.
We wanted flying cars, instead we got 140 characters.
Tolstoy opens Anna Karenina by observing: “All happy families are alike; each unhappy family is unhappy in its own way.” Business is the opposite. All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.
What important truth do very few people agree with you on?
The most valuable businesses of coming decades will be built by entrepreneurs who seek to empower people rather than try to make them obsolete.
Monopoly is the condition of every successful business.
All failed companies are the same: they failed to escape competition.
If your product requires advertising or salespeople to sell it, it’s not good enough: technology is primarily about product development, not distribution.
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.
CREATIVE MONOPOLY means new products that benefit everybody and sustainable profits for the creator. Competition means no profits for anybody, no meaningful differentiation, and a struggle for survival.
You’ve invented something new but you haven’t invented an effective way to sell it, you have a bad business—no matter how good the product.
In a world of scarce resources, globalization without new technology is unsustainable.
The road doesn’t have to be infinite after all. Take the hidden paths.
The single most powerful pattern I have noticed is that successful people find value in unexpected places, and they do this by thinking about business from first principles instead of formulas.
Peter Thiel is an American venture capitalist and entrepreneur. He is a co-founder of PayPal, Palantir Technologies and Founders Fund.
Thiel was born in Frankfurt, West Germany. His family migrated to the United States when Thiel was one-year-old. In 1999, Thiel co-founded PayPal with five other people. He served as PayPal chief executive officer until eBay acquired it in 2002.
In 1995, Thiel co-authored The Diversity Myth: Multiculturalism and the Politics of Intolerance at Stanford along with David O. Sacks. In spring of 2012, Thiel taught a course CS 183: Startup at Stanford University. Notes taken by a student Blake Masters led to a book titled Zero to One by Thiel and Masters, which was released in September 2014.
In 2007, Thiel was honoured as a Young Global Leader by the World Economic Forum as one of the 250 most distinguished leaders aged 40 and under. In Forbes Midas List of 2014, he was ranked No. 4, and No. 328 on the Forbes 400 List in 2018.
Through his foundation, the Thiel Foundation, he governs the grant-making bodies Breakout Labs and Thiel Fellowship. The foundation also funds nonprofit research into artificial intelligence, life extension and seasteading.