fuchsbau

Zero to One, Peter Thiel

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• Substrat: go from 0 to 1, not from 1 to n.
  • what valuable company is nobody building?
  • better to be the last mover than the first mover
  • because of power laws investors should make few investments
• monopoly = so good at what you do that no close substitute exists
  • typical: proprietary technology, network effects, economies of scale, branding
  • monopolies are only great if they can endure in the future
• dysfunctional organisation: signalling that work gets done brings more career advancement than getting work done
• general principles:
  1. It is better to risk boldness than triviality.
  2. A bad plan is better than no plan.
  3. Competitive markets destroy profits.
  4. Sales matters just as much as product.
• 7 questions 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 a big share of a small market?
  4. The People Question: Do you have the right team?
  5. The Distribution Question: Do you have a way to not just create but deliver your product?
  6. The Durability Question: Will your market position be defensible 10 and 20 years into the future?
  7. The Secret Question: Have you identified a unique opportunity that others don’t see?
• Our task today is to find singular ways to create the new things that will make the future not just different, but better—to go from 0 to 1.