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

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.

if you want to create and capture lasting value, don’t build an undifferentiated commodity business.

Americans mythologized competition and credit it with saving us from socialist bread lines.

Just as the legal attack on Microsoft was ending Bill Gates's dominance, Steve Jobs's return to Apple demonstrated the irreplaceable value of a company's founder. In some ways, Steve Jobs and Bill Gates were opposites. Jobs was an artist, preferred closed systems, and spent his time thinking about great products above all else; Gates was a businessman, kept his products open, and wanted to run the world. But both were insider/outsiders, and both pushed the companies they started to achievements that nobody else would have been able to match.

aun sabiendo que cuanto más compitamos, menos ganaremos.

Advertising can work for startups, too, but only when your customer acquisition costs and customer lifetime value make every other distribution channel uneconomical.