How You Can Be The Architect of Your Own Future

Making small changes to things that already exist might lead you to a local maximum, but it won’t help you find the global maximum. 

• It is better to risk boldness than triviality
• An imperfect plan is better than no plan
• Competit...

Rule 1 : Only invest in companies that have the potential to return the value of the entire fund.

Rule 2 : Because rule one is so restrictive, there can’t be any other rules.

• Proprietary technology (10 times better than any existing solution),
• Network effect (start with a hyper-niche market. If you think its too big it is),
• The economy of scale (SaaS vs employee labor-intensive),
• ...

• Horizontal or extensive progress means copying things that work— going from 1 to n.
• Vertical or intensive progress means doing new things— going from 0 to 1.

Vertical progress is more ch...

The importance of moving away from the idea of healthy competition is that competition means there will be no capital left for you. The rest of the capital ‘pie’ will be eaten by your competitors. Therefore, Peter emphasizes the importance of building a monopoly.

• Imagery: Using branded clothing and other items/events help show others in your company that you belong in the same tribe and shows commitment.
• Slogans: Slogans, catch-phrases, and idioms are great tools to build strong relations among members of the...

• We overrated the power of chance and underrated the importance of planning.
• If you want an effective board, keep it small.
• Eliminating competition makes it easier for everyone to build the kinds of long-term relationships that transcend mere ...

1. The Engineering Question: Can you create breakthrough technology instead of incremental improvements?

2. The Timing Question: Is now the right time to start your particular business?

3. The Monopoly Question: Are you starting with ...