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PT

Peter Thiel

03/23/17

@ Y Combinator

In the last 250 years, only a few categories of businesses have successfully created new things and made money, often due to their monopolistic structures.

Video

YC

Competition is for Losers with Peter Thiel (How to Start a Startup 2014: 5)

@ Y Combinator

Competition is for Losers with Peter Thiel (How to Start a Startup 2014: 5)

03/23/17

Related Takeaways

PT

Peter Thiel

03/23/17

@ Y Combinator

The structure of competition in industries often prevents innovators from making money, despite creating significant value for society.

PT

Peter Thiel

03/23/17

@ Y Combinator

There are only two kinds of businesses: perfectly competitive and monopolies; this dichotomy is often misunderstood as people misrepresent their market positions.

PT

Peter Thiel

03/23/17

@ Y Combinator

Elon Musk's success with Tesla and SpaceX is attributed to their complex, vertically integrated monopoly structures.

PT

Peter Thiel

03/23/17

@ Y Combinator

The critical aspect of a monopoly is not just achieving it but maintaining it over time; being the last mover in a category is often more valuable than being the first.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I think the goal of every successful business should be to achieve a monopoly, as this is crucial for long-term success.

PT

Peter Thiel

03/23/17

@ Y Combinator

Characteristics of a monopoly include proprietary technology, network effects, and economies of scale, which can lead to sustained market dominance over time.

PT

Peter Thiel

03/23/17

@ Y Combinator

There are many areas of innovation that have seen tremendous advancements, yet no one has made significant profits from them.

PT

Peter Thiel

03/23/17

@ Y Combinator

Vertically integrated monopolies, like those formed during the Second Industrial Revolution, have proven to be very valuable when executed correctly.

HI

Harvard Innovation Labs Cast

02/02/14

@ Harvard Innovation Labs

Many successful businesses today thrive not because of technological breakthroughs but due to disruptive business models that change the game.