I’m currently rereading Zero to One for my book club. Thiel argues that all significant fortunes are built by building something new that totally avoids competition (or at least addresses a problem in a completely new way from preexisting competition).
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Replying to @Molson_Hart
Related: he also makes the case that going after just 1% of a Billion dollar market is futile. Once the market reaches that size, it's so efficient that the value gap has been captured. However, you can go after an existing market if you solve an entrenched problem there.
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Great point. I think going after 1% in an established market is possible, but fuck is it hard.
8:18 AM - 6 May 2020
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