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The following is a list of quotes by Peter Thiel . Peter Andreas Thiel (born October 11, 1967) is an American entrepreneur, venture capitalist, philanthropist, political activist, and author.


Quotes


Unless they invest in the difficult task of creating new things, American companies will fail in the future no matter how big their profits remain today. What happens when we’ve gained everything to be had from fine-tuning the old lines of business that we’ve inherited? Unlikely as it sounds, the answer threatens to be far worse than the crisis of 2008. Today’s “best practices” lead to dead ends; the best paths are new and untried.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


The paradox of teaching entrepreneurship is that such a formula necessarily cannot exist; because every innovation is new and unique, no authority can prescribe in concrete terms how to be innovative. Indeed, 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.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


Brilliant thinking is rare, but courage is in even shorter supply than genius.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


In business, money is either an important thing or it is everything. Monopolists can afford to think about things other than making money; non-monopolists can’t. In perfect competition, a business is so focused on today’s margins that it can’t possibly plan for a long-term future. Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


Simply stated, the value of a business today is the sum of all the money it will make in the future. (To properly value a business, you also have to discount those future cash flows to their present worth, since a given amount of money today is worth more than the same amount in the future.)

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


Technology companies follow the opposite trajectory. They often lose money for the first few years: it takes time to build valuable things, and that means delayed revenue. Most of a tech company’s value will come at least 10 to 15 years in the future.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


If you focus on near-term growth above all else, you miss the most important question you should be asking: will this business still be around a decade from now? Numbers alone won’t tell you the answer; instead you must think critically about the qualitative characteristics of your business.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


Paradoxically, then, network effects businesses must start with especially small markets. Facebook started with just Harvard students—Mark Zuckerberg’s first product was designed to get all his classmates signed up, not to attract all people of Earth. This is why successful network businesses rarely get started by MBA types: the initial markets are so small that they often don’t even appear to be business opportunities at all.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


A good startup should have the potential for great scale built into its first design. Twitter already has more than 250 million users today. It doesn’t need to add too many customized features in order to acquire more, and there’s no inherent reason why it should ever stop growing.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


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.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]


A unique founder can make authoritative decisions, inspire strong personal loyalty, and plan ahead for decades. Paradoxically, impersonal bureaucracies staffed by trained professionals can last longer than any lifetime, but they usually act with short time horizons.

  • Zero to One Notes on Start-Ups, or How to Build the Future[1]
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