Economists copied their mathematics from the work of 19th-c… - Peter Thiel

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Economists copied their mathematics from the work of 19th-century physicists: they see individuals and businesses as interchangeable atoms, not as unique creators. Their theories describe an equilibrium state of perfect competition because that’s what’s easy to model, not because it represents the best of business.

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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Any big market is a bad choice, and a big market already served by competing companies is even worse. This is why it’s always a red flag when entrepreneurs talk about getting 1% of a $100 billion market.

War metaphors invade our everyday business language: we use headhunters to build up a sales force that will enable us to take a captive market and make a killing. But really it’s competition, not business, that is like war: allegedly necessary, supposedly valiant, but ultimately destructive.

we need unusual individuals to lead companies beyond mere incrementalism.

Economists copied their mathematics from the work of 19th-century physicists: they see individuals and businesses as interchangeable atoms, not as un… - Peter Thiel

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