eBook: Download Zero One Notes Startups Future ePub (MOBI, PDF) + Audio Version


  • File Size: 16820 KB
  • Print Length: 223 pages
  • Publisher: Crown Business; 1 edition (September 16, 2014)
  • Publication Date: September 16, 2014
  • Language: English

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Absolutely no to One is a refreshing intellectual deep jump to the motives behind entrepreneurship.
It’s full of unique, practical insights, and discusses success in phrases of human nature and culture. Together with business strategy, Thiel outlines how successful innovation shapes society and shares an intriguing vision.

Bottom line: This guide was worth my time and processed several core beliefs. That made me ask hard questions which, as an entrepreneur, I believe are critical if you need to be honest and prepared.

I actually like the organized format which reads well linearly, but also lets you read chapters in the order they interest you most, making key takeaways accessible to review and reveal.

It’s short enough to finish in a 7 days, and deep enough to cover the whole lifecycle of a company.

Here are the seven questions Thiel writes “Every business must answer: "

1. Could you create breakthrough technology as opposed to incremental improvements?

2 . not Is now the right time to start your unique business?

3. Have you been starting with a huge reveal of a little market?

4. Do you have the right team?

5. Do you have a way to not merely create but deliver your product?

6. Will your market position be defensible ten and 20 years into the future?

several. Have you recognized a unique opportunity that others don’t see?

These are from the “seeing green” chapter on profitability, and form a basis for much of the content.

Instead of offer scripts or formulas, Thiel discusses the logic of starting a company that will assist a truly meaningful and unique impact on the world. Blake did a great job of adapting and presenting the contents, a lot of which were delivered when Thiel taught at Stanford.

The majority of startups fail. Keeping in mind that companies growing 1000x often carry complete portfolios, Peter gives a good argument for successful moonshots and grand dreams. He also highlights the dangers of trying to disrupt entrenched competition and avoid extra resistance and burn rates on marketing.

This was one of the many reasons Tesla was successful; it didn’t at first aim to compete directly against the big 3. Rather, Tesla started out by looking into making powertrains, then started with good conclusion luxury models where no strong alternative existed. It also serves as an OEM for other manufacturers, that is a nontraditional strategy that has worked well.

There are further arguments against competition where Thiel shares his inner thoughts for merging PayPal and Elon Musk’s Times. com. His strong discussion for monopolies are both for novelty also to develop early market dominance should competition arise later. This specific strategy goes beyond first mover advantage in several interesting ways. I found a Monopoly Index by Forbes that showed these kinds of companies outperforming the Dow and S&P by 33%, which was a pleasant result of some due diligence.

The title means “create true newness. ” When you go from 1 to n (n being an integer), generally, you create incremental value (such faster solar charging or curved screens). Even though you make a product that’s a 3x improvement over a market leader, you are not creating anything truly new, and well funded competition are likely to catch up.

Going from 0 to at least one means starting at floor zero and building a new foundation. This is similar to Blue Sea Strategy, but discussed at a more fundamental level.

Pros:

• Blake’s short and snappy, direct writing style. Small fluff; you get to the point quickly.

• Good amount of evidence, examples, stories, and visualized data. No streams of consciousness and minimal for filler injections, if any. This guide is very credible.

• The thing is into Thiel's investment logic as he talks about the reasoning behind VC choices thorough. This is helpful for anyone who wants to be better prepared for a successful boost; it’s good to see deeply into both sides of the story.

Con:

• Zero to One has a variable scope and can feel like multiple books in a. It appears at economics, globalization, synthetic intelligence, and historical styles along with founder characteristics and the qualities of great salespeople. In some areas, I would have liked to see more connection between micro and macro. Others were strongly linked, but went into slightly less depth. The particular shifting balance isn’t that big of a offer, particularly if you find variety refreshing.

Variable:

• Viewpoint over formulaic. If you want to become a more savvy entrepreneur and learn how to make more effective decisions, read this guide. If you’re at the stage where you want a more prescriptive “how-to” guide, check out Slim Startup or Paul Graham’s essays. If you like diving really deep into the mind of a originator across many life encounters, check out Tony Hseih’s Delivering Happiness. Zero to One definitely has high merit to join the ranks of many highly regarded thought leaders.

This guide teaches you more how to think, less what to think. Given that, its usefulness will be compounded and, most of the time, timeless., A better title with this book would have been "Six ideas Peter Thiel wants to put away there" but that admittedly sounds less catchy than "Zero to One"

2 of the ideas are HUGE and the rest are filler. The first enraged me and the second inspired me. The remaining four ideas were not exactly news to me because I once founded and ran a startup. There's also a couple rants, one against biotechnology and one against green tech, which to my ears sounded tribal.

Following your ideas and the rants comes some rather embarrassing stuff that probably should not have made it into print. For example "we never invest in entrepreneurs who turn upwards for the interview in a suit" or "four of the founders of PayPal had built bombs as children. " Idiota to Peter Thiel: you are successful despite your prejudice against people who don't share your sartorial taste, and your partners made it to adulthood despite having been badly supervised as children.

Idea number one is that "Monopolies are Good"

Not only for the monopolist (that would hardly have been a contribution) but also for everyone else. The common idea is that competition damages profits and the lack of profits leads organizations to an existential struggle which does not allow them the scope to innovate. Monopolies are excellent because they have the energy and scope to bring innovation to everybody. Thus Bill Gates brought the computer to each home. He or she was not beaten by an improved provider of software, this individual was superseded by a shift in technology toward powerful mobile devices, pills and the cloud, all of which, in change, were motivated by other entrepreneurs' desire to obtain monopoly profits. So Dorrie Jobs dominated many of these arenas for very long to enjoy monopoly profits and other people will some day take this all further. Even the authorities is in on the act, Peter Thiel statements, or else it would not be granting patents to inventors or freedom from competition from generic drugs to the pharmaceutical companies that first develop new medications.

Erm, where do I start? My mommy taught me that "necessity is the mother of invention: " GM performed not develop the Volt till it was upwards against the wall, Archimedes learned how to screw water upwards during the Roman siege of Syracuse, the Germans developed jet propulsion, the swept side and the rocket we later sent to the moon when they got pretty much already lost WWII. Intel gave us the messed-up Pentium mainly because it was as near to a monopoly as it will ever be, Steve Jobs gave us the Newton if he was feeling comfortable, Ford gave us the Edsel when profits were still huge, Coke offered us New Coke when its only true competition originated in water; Peter Thiel has 99% of human being history against him on this one.

Now, I actually will be the previous to contest that Pericles' Athens gave us the Parthenon when he were sitting on half of Greece's treasure, that the Medici sponsored some fantastic art when these were at their apogee or that Peter Thiel might make some fantastic contributions to philosophy in the years in the future, but that's beside the point. Pericles and the Medici both came to an conclusion I would not wish upon Peter Thiel, let's put it that way. Bottom line, he's hanging with far too many courtesans who are showing him what he would like to hear and too many fellow "job creators" and he has to get out more.

The really painful thing is that Economics works with all these issues, and Peter Thiel should read some Economics. Many fields of effort, for starters, relate to limited markets. Example: the size of the market for flat bread in Brand new York State. Meeting in the McDonalds car park with the heads of the other three major bakeries that make toned bread to fix the price of flat loaf of bread should be illegal, period. Buying out the other three makers of toned bread so you can regulate the purchase price by yourself should also be unlawful. Provision of mattresses throughout the North American continent suspension systems in your thoughts: A US california king size mattress is twice the price of a UK king size bed mattress and it also only has 3 inches extra on each side and I'll leave that one right there. I actually can see how an ocean and different measurements benefit the mattress industry in the US, but I absolutely don't see how Americans will one day benefit from paying twice for their mattresses. Dunno, maybe they will uncover a different way to sleep.

And then we have the cases where, as the author states, it's clear that you might want to incentivize people to improve (drugs spring to mind, where the US has a lead) and that's where patents come in. Once again, though, it's crystal clear that there is a restrict to how long these monopolies should last. And it was crystal clear to everyone with a right amount of common sense that both Intel and Microsoft were not helping the world along when they used dirty tricks to damage AMD and Netscape.

Almost all that said, monopolies are fantastic for you if you possibly could set them up, and the four pieces of advice about how to arranged up a monopoly sound pretty sensible: 1 . Private Technology 2. Network Results 3. Economies of Level and 4. Brand. Properly noted, and really worth remembering. Most important piece of advice: start with a little monopoly you know you can get (example: launch Myspace among your Harvard class mates, launch Paypal one of the 20, 000 eBay power users) and take things from there.

The number two idea is that you desire a Plan. Things do not merely work out if you put together confidence, good people, hard work, capital and obtain a lotto ticket. Mcdougal takes us on a (rather gratuitous) trip from Plato and Aristotle to Nozick and Rawls via Epicurus, Lucretius, Hegel and Marx to discuss when optimism is and isn't warranted and the bottom line is that you're only permitted to be an optimist if you have "definite optimism" based on a specific Design (my capital D) for an enterprise. Peter Thiel takes a massive swipping at the Malcolm Gladwells of the world who overemphasize chance, serendipity and fate with facile quarrels about the similarity in Steve Jobs' and Expenses Gates' birthdates.

Bottom collection, fortune smiles on those who have a design. After the fact they might look lucky, but only then. Thiel views Steve Jobs to have been a designer, first and foremost. In his words "The greatest thing Jobs designed was his business. Apple imagined and executed definite multi-year strategies to create new items and distribute them effectively. inches

I LOVED this. Loved it, loved it, cherished it. Please somebody email this thought to Mariana Mazzucato and her group of nihilists.

The 3rd idea is that our world is most beneficial described by the extremes rather than what happens in the middle. Is actually the Nassim Nicholas Taleb idea, and he properly appears on the back cover to endorse the book. The kind of insight here is that when you invest in startups, like the author does, the performance of your entire account is a function of your one best investment; the rest of your opportunities, even if they kinda do OK, are none here nor there, are worthy of none of your time and efforts and get none of it if you are doing your job right. The lesson if you are involved in a startup is "what are the chances that this venture will be the one? " This may not be a book idea. For the best book on the subject I'd steer around NNT's work and turn to Benoit Mandelbrot's masterpiece, "The (Mis)behaviour of Marketplaces. "

The fourth idea is no more original, but Thiel puts it well: "there are many more secrets left to find, nonetheless they will yield only to relentless searchers. " A new company that's based on having solved a hard problem, either a "secret of nature" or a "secret about people" is going to have a much better chance of succeeding than one that adds a turn to an already existing business model. That said, the author is quick to mention that some entrepreneurs (for example Richard Branson) do very well from doing exactly that. Is actually just that this is not his type of company.

The fifth idea is you need to pick your partners i. e. your investors, your fellow managers along with your (ideally 3) company directors very carefully in order to be sure to all want the same thing out of the company (and it had better not be immediate rewards). As a former entrepreneur, I can vouch for the fact that this is a "good problem to have. " Regarding my series 1 I saw 42 potential investors and chose the 2 who were ready to give me personally money, I hired as managers and engineers best guys I could find and I had no say regarding the idiot my investors put on my board. But if you act like you can afford to follow Peter Thiel's advice, it's not questionable. And neither is "idea 5. 5" that the people who work at a startup will are supposed to be to a cult, not to an army of consultants. Beyond a bubble surroundings that's precisely who will join anyway. You won't get any consultant types banging on your door, except if they are putting together their CV to get into B-school.

The 6th idea is that marketing is extremely important. When you build it they won't come. You need to that. True. Yet not all startups have the funding to sell it, so it's not a total disaster if it somehow does sell itself. But point obtained.

The closing chapter is a vomit-inducing hagiography of founders. The question is posed: are founders different because they founded a firm or did they found a firm as they are different. Answer: nobody cares. For the record, I actually think a successful entrepreneur is a guy who does not know how to give up. That's what they all have in common. But once they have their first billion and don't need to run their ideas by anyone else to get them funded they very often go do something stupid (dunno, like go mine asteroids) with exactly the same fervour they previously applied to the sensible effort that made them rich. The more grounded ones keep their further opportunities near to home and immediate their imagination toward providing lectures and writing publications. Peter Thiel, luckily for himself, falls in the second category., There are many excellent reasons to purchase and enjoy Peter Thiel’s Zero to One, Notes on Startups.

For starters, going from zero to one or intensive (vertical) progress means doing new things. Vertical progress is harder to imagine because it requires doing something no person else has been doing. In brief, doing new things is wiser than copying things that work. Thiel is best in questioning conventional thinking for he suggests a start up must question received ideas and rethink business from scuff.

Two conventional beliefs Thiel asks us to question are monopolies and competition. “Creative monopoly means new products that benefit everyone and sustainable profits for the creator. Competition suggest no profits for anyone, no meaningful differentiation, and a struggle for survival…. The more we compete, the less we gain. "

The book offers entrepreneurs many lessons learned but the best suggestion I actually offer is if you have short amount of time but be sure to read chapter seven, Follow the Money. For me, this chapters offers the key to successful venture capitalists by understanding the Pareto Theory, which Thiel explains as the " power law of investment capital, " so named because exponential equations describe severely unequal distributions i. e. the 80 /20 rule.

What a refreshing read teaching us how to create value.

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