First, establish a monopoly in your niche market, then expand to adjacent markets building on that success, growing your monopoly step by step. Don’t make enemies of the existing industry—especially don’t try to destroy it, because that invites trouble. The same principle applies when expanding into adjacent industries. If you can’t beat them, partner with them.
First, establish a monopoly in your niche market, then expand to adjacent markets building on that success, growing your monopoly step by step. Don’t make enemies of the existing industry—especially don’t try to destroy it, because that invites trouble. The same principle applies when expanding into adjacent industries. If you can’t beat them, partner with them.
There is an inherent difference between the tasks humans and machines excel at. Humans are conscious and skilled at planning and making decisions in complex situations, but they are not good at processing large amounts of data. Computers, on the other hand, excel at efficient data processing but cannot make basic judgments that come easily to humans.
On the project's homepage ("20 under 20," a program that encourages students to pursue business success over academics), Peter Thiel cites Mark Twain to illustrate his philosophy: I have never let my schooling interfere with my education.
True education doesn't happen in school—at least not in China.
Work comes in two types: less than 5% is breakthrough work, which heavily depends on the individual; the other 95% is maintenance work, where there's not much difference between people.
Education is sometimes not about teaching, but about selection—and more often than not, that selection just provides a justification.
Work hard, master a stable cash flow, invest on time, hold tight, and you’ll eventually see results.
Hang in there in the market stubbornly—I’m still here. If you don’t look, it hasn’t really fallen.
People lie only when they don’t intend to play the long game. But when someone is in it for the long haul, they have to tell the truth. The reverse holds too: if someone is lying, they certainly aren’t planning to stay with you long-term.