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

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

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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.

Biography information from Wikiquote

Also Known As

Alternative Names: Peter Andreas Thiel Peter A. Thiel
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less than 1% of new businesses started each year in the U.S. receive venture funding, and total VC investment accounts for less than 0.2% of GDP. But the results of those investments disproportionately propel the entire economy. Venture-backed companies create 11% of all private sector jobs. They generate annual revenues equivalent to an astounding 21% of GDP. Indeed, the dozen largest tech companies were all venture-backed. Together those 12 companies are worth more than $2 trillion, more than all other tech companies combined.

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Everybody has a product to sell — no matter whether you’re an employee, a founder, or an investor. It’s true even if your company consists of just you and your computer. Look around. If you don’t see any salespeople, you’re the salesperson.

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