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Back to #424 Peter Thiel on How to Build a Creative Monopoly, with David Senra.

What Important Truth Do Very Few People Agree With You on?

David Senra, reading Peter Thiel and Blake Masters, says a company worth building starts from one question: what important truth do very few people agree with you on? Answer it, and the company can be built around that answer. A good answer takes one form. Most people believe X, but the truth is the opposite of X.

Stating the answer honestly is hard. It bucks what other people believe and can feel controversial. Brilliant thinking is rare, but courage is in even shorter supply than genius. No one can predict the future exactly. Two things are known. The future is going to be different, and it must be rooted in today's world. Most answers are different ways of seeing the present. Good answers are as close as we can come to looking into the future. Edwin Land repeated one line while building Polaroid. The present is the past biting into the future.

Technology, on the same terms, is any new and better way of doing something. There is no reason it should be limited to computers.

Grokipedia·Peter Thiel·David Senra

Transcript

#424 Peter Thiel on How to Build a Creative Monopoly ·

Founders

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  1. What Happened When Yahoo Tried to Buy Facebook?David Senra, reading Peter Thiel and Blake Masters, says Yahoo offered to buy Facebook for a billion dollars in July 2006 and Mark Zuckerberg refused to sell.
  2. What Is a Creative Monopoly?David Senra, reading Peter Thiel and Blake Masters, says a creative monopoly is a company so good at what it does that no other firm can offer a close…
  3. Why Do Entrepreneurs Chase Growth Over Durability?David Senra says entrepreneurs chase growth over durability because growth is easy to measure and durability is not.
  4. Why Should a Startup Start in a Tiny Market?David Senra, reading Peter Thiel and Blake Masters, says every startup should start with a very small market because creative monopolies start excessively…
  5. Why Does Peter Thiel Say Competition Is for Losers?David Senra, reading Peter Thiel and Blake Masters, says competition is for losers because a startup should avoid competition and aim to be the last mover…
  6. What Is a Definitive Optimist?David Senra, reading Peter Thiel and Blake Masters, says a definitive optimist believes the future will be better than the present if that person plans and…
  7. What Secret Should a Startup Be Built on?David Senra, reading Peter Thiel and Blake Masters, says a startup should be built on a secret: something important and unknown, hard to do but doable.
  8. Why Can Sales and Distribution Create a Monopoly?David Senra, reading Peter Thiel and Blake Masters, says superior sales and distribution by itself can create a monopoly, even with no product differentiation.
  9. What Happened When Steve Jobs Returned to Apple?David Senra reads Michael Moritz, then Peter Thiel and Blake Masters, on Steve Jobs returning to Apple.

People

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