<ol><li>It's better to be bold than inconsequential</li><li>A Bad Plan is better than none</li><li>Don't Compete: competition destroys profits</li><li>Sales Strategy matters as much as product</li></ol>

Lessons of the Dot-Com Bubble

A start-up is the largest group of people you can convince of a plan to build a different future. <ul><li>Big organisations are risk adverse</li><li>A brilliant loner does not have the means to create a new industry</li></ul>It takes multiple people to create new technology, but also smallness for momentum and flexibility.

Why Start-ups?

<ul><li>Successful people find value in the most unexpected places. They think in terms of principles, not formulas.</li><li>Refining an existing idea moves the world from 1 to n, but to move from 0 to 1, we must create something new.</li><li>Progress comes from Monopoly, not competition. </li></ul>

Every moment in business happens only once

Small changes have disproportionate results."The secret in venture funding is that the top investment equals or exceeds the rest of the fund combined." <ul><li>One market will bring the greatest success</li><li>One distribution strategy will outperform all others</li><li>Some moments will count more than others</li><li>What's more important probably is not obvious</li></ul>

The Power Law

<ol><li>Proprietary Technology: 10x Better than next best alternative.</li><li>Network Effects: Provide immediate value to early adopters.</li><li>Economies of Scale: Cost per unit declines as production increases.</li><li>Branding: A reputation that differentiates itself from competitors and guarantees quality.</li></ol>

Monopoly Characteristics

The best place to find secrets is to ask questions no one is asking and look where no one else is looking. <ul><li>"What important truth do few people agree with you on?"</li><li>"What valuable company is nobody building?"</li></ul>The best entrepreneurs know this: every successful 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. <a href="https://www.justologist.com/newsletter/">Subscribe to my Newsletter to Learn More!</a>

Finding Secrets

The first and most crucial decision is whom to start it with.<ul><li>Ownership: who will run the company's equity</li><li>Possession: who will run the company's routine</li><li>Control: who will govern the company</li></ul>

Building a Strong Foundation

'Zero to One' is one of my all-time favorite books. Peter Thiel discusses how successful companies are built around a strong foundation, secrets, and monopolies. This book is for aspiring entrepreneurs and investors who want to build a valuable business that creates new things, rather than develop on existing ideas. 

WHAT VALUABLE COMPANY IS NOBODY BUILDING? The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin wonâe(tm)t make a search engine. If you are copying these guys, you arenâe(tm)t learning from them. Itâe(tm)s easier to copy a model than to make something new: doing what we already know how to do takes the world from 1 to n, adding more of something familiar. Every new creation goes from 0 to 1. This book is about how to get there. âe~Peter Thiel has built multiple breakthrough companies, and Zero to One shows how.âe(tm) ELON MUSK, CEO of SpaceX and Tesla âe~This book delivers completely new and refreshing ideas on how to create value in the world.âe(tm) MARK ZUCKERBERG, CEO of Facebook âe~When a risk taker writes a book, read it. In the case of Peter Thiel, read it twice. Or, to be safe, three times. This is a classic.âe(tm) NASSIM NICHOLAS TALEB, author of The Black Swan

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WHAT VALUABLE COMPANY IS NOBODY BUILDING? The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. If you are copying these guys, you aren’t learning from them. It’s easier to copy a model than to make something new: doing what we already know how to do takes the world from 1 to n, adding more of something familiar. Every new creation goes from 0 to 1. This book is about how to get there. ‘Peter Thiel has built multiple breakthrough companies, and Zero to One shows how.’ ELON MUSK, CEO of SpaceX and Tesla ‘This book delivers completely new and refreshing ideas on how to create value in the world.’ MARK ZUCKERBERG, CEO of Facebook ‘When a risk taker writes a book, read it. In the case of Peter Thiel, read it twice. Or, to be safe, three times. This is a classic.’ NASSIM NICHOLAS TALEB, author of The Black Swan

Peter Thiel is an accomplished writer whose work has resonated with readers around the world. Peter Thiel has published several books that explore a range of topics, from fiction to nonfiction, and has received critical acclaim for the ability to weave compelling narratives. Peter Thiel's writing style is known for its depth and authenticity, and has earned quite a loyal following of readers.

Peter Thiel

Blake Masters is an accomplished writer whose work has resonated with readers around the world. Blake Masters has published several books that explore a range of topics, from fiction to nonfiction, and has received critical acclaim for the ability to weave compelling narratives. Blake Masters's writing style is known for its depth and authenticity, and has earned quite a loyal following of readers.