network. You won't learn anything new if you just copy those that have succeeded. You might go from A-‐N, but not from Zero to One. If American companies do. When you start a new business in an industry that already exists, writes PayPal founder Peter Thiel in his book Zero to One, you are adding more of something to . zero to one - NOTES ON STARTUPS, OR. HOW TO BUILD THE FUTURE. Peter Thiel.
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Zero to one: notes on startups, or how to build the future / Peter Thiel with Blake Masters. Zero to One is about how to build companies that create new things. Zero to One is about how to build companies that create new things. tooN detailed class notes, which circulated far beyond the campus, and in Zero to One. #1 NYT Bestseller. source Legendary entrepreneur and investor. Peter Thiel shows how to build a great business—and a better future. Get the book.
The great secret of our time is that there are still uncharted frontiers to explore and new inventions to create. In Zero to One, legendary entrepreneur and investor Peter Thiel shows how we can find singular ways to create those new things. Thiel begins with the contrarian premise that we live in an age of technological stagnation, even if we're too distracted by shiny mobile devices to notice. Information technology has improved rapidly, but there is no reason why progress should be limited to computers or Silicon Valley. Progress can be achieved in any industry or area of business.
Better to make alliances instead, like he did with former competitor Elon Musk to build, together, Paypal. Chapter 5: Last Mover Advantage Short term profit-making culture pervades many startups.
He says the most fundamental question instead is: will this business still be around 10 years from now? He says that the disruption mindset is silly and counterproductive. When you call yourself disruptive you look at yourself through the eyes of other companies that become older and the enemies.
But your act of creation should be the focus, not disrupting and upsetting this or that industry. Also, when you see yourself as the dark horse rebel you become focused on roadblocks and enemies. But seeing yourself as the dark horse upsetting the world only brings trouble. Think about Napster, Thiel says, who wanted to take on the whole music industry.
Troublemakers are sent to jail, and troublemaker companies are sent to chapter 11 courts. It should be a tactical move, but not your goal. You do that by dominating a niche first and then expanding from there. My Note: The serial entrepreneur thing is no proof to be honest.
Or even thrice. Pretty sure there are several double lottery winners in the world also read: Fooled by Randomness. The author talks further about pessimists and optimists and about Lean Methodologies. He says six sigma and lean methodology is about incremental improvements and will not get you from zero to one. Chapter 7: Follow The Money Thiel says that anyone without a salary or stock options is misaligned with the company interests. The hiring decision should be binary: either fully on board or not.
Another interesting trend the author found which was illuminating for me was that the less the company pays its CEO, the better it does. Too high salary make CEOs behave more like politician busy defending the status quo. A low salary also sets an example for the rest of the company. My Note: I can so relate to this. As a kid first learning about Columbus and the explorers I always thought the world by now had it all figured it out. The author says indeed that early mistakes are often very costly.
The constitution hardly ever changed even though an update would be beneficial. Similarly, early mistakes in choosing your co-founders or even early employees are damn hard to correct. Often the beginning of a relationship is full of excitement, but when it dissipates, if major rifts take place, they can easily take the whole company down.
Thiel says that these days he only invests in startups where the founders share a history and knew each other long before they started pitching VCs. A basic structure tells you who: Owns the company ownership Runs the company on a daily basis Formally control the company affairs The author says that distributing ownership in theory gives everyone incentives, but it also multiplies the chances for dis-alignment and internal power struggles. Keep the board small then.
Similarly, everyone should be doing one thing and evaluated for that one thing only. My Note 1: This reminds of Eleven Rings when Phil Jackson says that having clear roles allows people to focus on the task rather than wasting energies on.
Keep Equity Shares Secret Equity is a great way of aligning interests and keeping individuals motivated. However, it must be allocated smartly.
Giving everyone the same is a mistake, but giving differently and making it public is also a mistake as that will breed resentment. Time is also a huge differentiator in a fair equity distribution. For example, if the company explodes in value a secretary joining Ebay in would make and own more than anyone else joining in So to avoid any issue… Keep the details secret. The author poignantly asks: why should an engineer be the 20th hire instead of going for Google for more money?
And they want to join because they are perfectly in sync with the colleagues already working in there.
When everyone perfectly fits in and is bought into the mission, the company will look like a cult. Better to become a cult. Or even a mafia. The opposite of a cult are firms like consulting companies Accenture for example.
No company has a culture. Every company IS a culture. The idea, as wrong as it is, is that if you need to sell a product the product is not that good. Actually, sales might be matter more than proudct.
Viral Marketing A product is viral if the core functionality leads you to invite their friends to also use your product. Check Contagious to learn more about how you can make your product more likely to become and go viral. Read this book to get your first glimpse of how and why that is true.
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See all customer images. Read reviews that mention peter thiel must read silicon valley thought provoking great read elon musk highly recommend startups well written venture capital business books starting a business ever read bill gates blake masters good read anyone interested economies of scale lottery ticket worth reading.
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Hardcover Verified download. In this chest-thumping book, author Peter Thiel comes off as a brilliant young man with a tendency toward exaggeration. Indeed, everything about him seems exaggerated: And now this book.
You can almost hear the caffeine coursing through your veins as you absorb the ideas. You might want to read the book on two levels: And because the book is a hybrid, you may need to work a little to separate the baby from the bath water. What a zero-to-one company does is lay claim to an uninhabited stretch of market space in order to create a monopoly.
Is he simply using the word monopoly to provoke us? Businesses succeed better when they differentiate rather than compete. Direct competition drains value as companies beat each other up. Why play dress-up with old ideas?
So Thiel can lash on his peg leg and black eye patch and make room for further piratical assertions. Consider the following: The history of progress is the history of new monopolies replacing incumbents.
From there you can scale it up, as long as you have the advantages of proprietary technology your secret sauce and network effects the tendency of a service to become more valuable as more people use it.
He encourages would-be entrepreneurs to ask this question: When you share your secret, you turn others into co-conspirators. With contrarian flair he asserts that the less money a startup pays its CEO, the better it will do. Finally, he examines a range of scenarios for the future of humanity, borrowed from philosopher Nick Bostrom.
The most common four are: This is a fascinating collection of thoughts, including some surprising truths and more than a few exaggerations. So which part of the book is the baby, and which is the bath water? Do they really serve society better than price-busting competitors? Sure, as long as they unleash creativity and generate broad-based wealth. When they mature into self-perpetuating bullies such as Microsoft, and increasingly Google, Apple, and site they tend to block other innovators using any means at their disposal.
Next, does every business really succeed exactly to the extent that it does something different? Not quite. Think of Pets.
Strong companies are those that start with a unique market position; weak companies are those that fail to differentiate, believing the world only wants more instead of different. He laments that the concept of disruption has degenerated into anything posing as trendy and new.
Christensen was the one who first mapped the road to Monopolyville. They just do it before they go to market instead of after, so their products seem to spring fully formed from the brow of Tim Cook or Jony Ives. This is actually a great way to think about it. An interesting fact about these types of secrets is that they tend to stay secrets long after you tell everyone.
Think about the Aeron chair, the Prius, and even PayPal. None of these businesses launched themselves. Nice and concrete. Not from where I sit. It could be that Peter Thiel himself is a walking contradiction, and therefore wants to create some positive context for it. He delights in courting controversy, starting at Stanford when he attacked various sacred cows such as political correctness and hate-speech laws in his newspaper The Stanford Review, and now by writing a book that appears to defend monopolists.
Just keep the baby and throw out the bath water. Kindle Edition Verified download. This book helped shape and better define my investment strategy. This has always annoyed me because in many ways the worst thing an undercapitalized public microcap can do is try to attack a huge highly competitive market. In simple terms, aim for monopoly, competition is for losers.
Monopolies have far greater profits, pricing power, and ability to think long-term. For small companies like microcaps to be a monopoly they need to focus on dominating a small market that is expanding, and then further grow into other complimentary markets. When I look back at some of the best microcap performers they too had this characteristic of dominating a small market that is expanding rapidly.
These companies normally have high organic growth rates, profitability, and pricing power. These powerhouse businesses can fund high rates of growth from internal cash flows.
Their market leadership and profitability allows them to make longer-term strategic decisions that provide an even wider moat.
Paperback Verified download. This is an excellent book. Not many people can be entrepreneurs, but I believe this book could inspire many and it can certainly guide one to a more open-minded approach.
Peter Thiel shows us that unconventional thinking i. Conventional means copy others and when you do that you have to compete mainly by cutting prices.
The leading businesses truly innovate and everyone else follows or stay behind. I started reading a library copy but realized I want to own it because I have to read it slowly many times like a good wine.
The copy that I received is in great condition; good deal, thanks! See all 1, reviews. site Giveaway allows you to run promotional giveaways in order to create buzz, reward your audience, and attract new followers and customers.