It’s better to think of distribution as something essential to the design of your product. If you’ve invented something new but you haven’t invented … - Peter Thiel

If you have invented sth new but you have not invented an effective way to sell it, you have a bad business - no matter how good the product

If you’ve invented something new but you haven’t invented an effective way to sell it, you have a bad business — no

If you’ve invented something new but you haven’t invented an effective way to sell it, you have a bad business — no matter how good the product.

MONOPOLY. Tesla started with a tiny submarket that it could dominate: the market for high-end electric sports cars. Since the first Roadster rolled off the production line in 2008, Tesla’s sold only about 3,000 of them, but at $109,000 apiece that’s not trivial. Starting small allowed Tesla to undertake the necessary R&D to build the slightly less expensive Model S, and now Tesla owns the luxury electric sedan market, too. They sold more than 20,000 sedans in 2013 and now Tesla is in prime position to expand to broader markets in the future.

people often find equity unattractive. It’s not liquid like cash. It’s tied to one specific company. And if that company doesn’t succeed, it’s worthless. Equity is a powerful tool precisely because of these limitations. Anyone who prefers owning a part of your company to being paid in cash reveals a preference for the long term and a commitment to increasing your company’s value in the future. Equity can’t create perfect incentives, but it’s the best way for a founder to keep everyone in the company broadly aligned.

Max Levchin, cofundador de PayPal, dice que las startups deberían intentar que su equipo inicial fuera a nivel personal lo más parecido posible.