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.

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.

What nerds miss is that it takes hard work to make sales look easy.

Doing something different is what’s truly good for society — and it’s also what allows a business to profit by monopolizing a new market. The best projects are likely to be overlooked, not trumpeted by a crowd; the best problems to work on are often the ones nobody else even tries to solve.

Just cover the basics like health insurance and then promise what no others can: the opportunity to do irreplaceable work on a unique problem alongside great people.