Ideas from Peter Thiel’s TWIST Episode

In this 45 second PAREable, learn more insights that Peter dispensed in this Launch Festival interview.

Actionable Do:

  • The key to think about competition is to not compete at all. Aim to be a monopoly.
  • We are too prone to think what’s valuable is what the other person is doing. Do think in terms of this better question: what can your company do that nobody else is going to do.
  • Future is not fixed. The better way to think about future for entrepreneurs is, what is the future you want to build.

Thinkable:

  • Absolute rules are dangerous.
  • There are good short cuts, but too many short cuts will go wrong.
  • One of the things that led to Peter’s investment in fb at that time was intensity of usage and network effect.
  • Sometimes investors over-value things they use and under-value things they don’t use.
  • Learn how to identify what is core. iOS is core to Apple, Android is not core to Google.
  • The best idea is contrarian and true. Intellectually true and business sense true.
  • Three forms of innovation: continuous improvement, big breakthrough, and complex coordination (pulls various parts together in an innovative way).
  • Three essentials for any great company: talented team that works well together with its internal dynamic, product or technology is based on a kernal of a really good idea, and good business strategy. If you have all three, most other details won’t matter.

Live and apply these ideas with the FREE Mindmory app!

Don’t just take my words, watch this chat.

Peter Thiel on This Week In Startups.

Until the next PAREable..

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