All happy companies are diferent: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape com… - Peter Thiel

The stark differences between man and machine mean that gains from working with computers are much higher than gains from trade with other people. We don’t trade with computers any more than we trade with livestock or lamps. And that’s the point: computers are tools, not rivals.

This would be depressing but for one crucial fact: humans are distinguished from other species by our ability to work miracles. We call these miracles technology.

Entrepreneurs are always biased to understate the scale of competition, but that is the biggest mistake a startup can make. The fatal temptation is to describe your market extremely narrowly so that you dominate it by definition.