Americans mythologize competition and credit it with saving… - Peter Thiel

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Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capitalism is premised on the accumulation of capital, but under perfect competition all profits get competed away.

Peter Thiel

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About Peter Thiel

Peter Andreas Thiel (born 11 October 1967) is a German-American billionaire entrepreneur, hedge fund manager, venture capitalist, philanthropist, political activist, and author. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook.

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Alternative Names: Peter Andreas Thiel • Peter A. Thiel

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Americans mythologize competition and credit it with saving us from socialist bread lines. Actually, capitalism and competition are opposites. Capita… - Peter Thiel

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