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Competition Is For Losers
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.
453
3.43K reads
MORE IDEAS ON THIS
7 Questions That Every Business Must Answer
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 ...
552
2K reads
How You Can Be The Architect of Your Own Future
- Being the architect of your own future involves attempting to create the best future for you.
- Peter describes future success as being a product of focus, dedication, and determination. You have to forget about the ideas of fate and luck. Those who are consistently su...
513
4.14K reads
To Construct An Effective Company Culture
- 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...
467
2.01K reads
On “Lean Startup” Dogmas
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...
466
3.65K reads
Follow The Money
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.
465
3.08K reads
Importance Of Planning
- 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 ...
463
2.93K reads
Horizontal Vs Vertical Progress
- 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...
527
5.81K reads
”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.”
PETER THIEL
466
3.08K reads
What Defines A Monopoly?
- 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),
- ...
468
3.37K reads
“Every moment in business happens only once. The next Bill Gates will not build an operating system. The next Larry Page or Sergey Brin won’t make a search engine. And the next Mark Zuckerberg won’t create a social network. If you are copying these guys, you aren’t lea...
PETER THIEL
513
4.69K reads
CURATED FROM
CURATED BY
"A good curated idea should be like a girl's skirt; long enough to cover the subject and short enough to create interest."
“Brilliant thinking is rare, but courage is in even shorter supply than genius.”— Peter Thiel
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MORE LIKE THIS
Competition is for losers
Competition narrows your focus on beating the other companies. While this makes you good at that which you are competing on, it doesn't guarantee success.
You risk losing sight of the big picture and of what is important for future growth, if you keep relat...
Start with a small market and dominate
Every startup is small at the start. Every monopoly dominates a large share of its market. Therefore, every startup should start with a very small market.
The perfect target market for a startup is a small group of particular people concentrated together an...
Make an idea sticky with simplicity
To make an idea sticky, keep it simple. The idea should be stripped down to its core, where there is nothing left to take away. Use fewer bullet points. Use easy words. Reduce the ideas. The more we reduce the information, the more the idea will stick.
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