PT

Peter Thiel

04/02/15

@ Mercatus Center

We've seen significant innovation in the realm of computers and information technology, but not as much in physical industries like energy and medicine.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The regulatory environment is a key factor in innovation; while software companies face minimal regulation, developing new drugs can cost around a billion dollars due to FDA requirements.

PT

Peter Thiel

04/02/15

@ Mercatus Center

A history of failure in certain industries discourages innovation, while success in software encourages more people to enter that field, creating a cycle of innovation.

PT

Peter Thiel

04/02/15

@ Mercatus Center

To break out of stagnation, we need to see successful innovations in various sectors that can inspire others and shift the current cycle from negative to positive.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I believe that breakthroughs at the intersection of information technology and physical industries, like self-driving cars, could significantly change the landscape of innovation.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I don't think the future is predetermined; it depends on human agency and whether we actively work to end stagnation.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The decline of mainline Protestantism may have shifted America's intellectual landscape, leading to a more complacent society that avoids ambitious projects like the Manhattan Project.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The university system is widely recognized as broken, and this consensus is no longer controversial.

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

04/02/15

@ Mercatus Center

The term 'entrepreneur' has become vague and empty, often used without a clear understanding of what it entails.

PT

Peter Thiel

04/02/15

@ Mercatus Center

We should focus on starting more good businesses rather than just increasing the number of startups, as not all ideas are worth pursuing.

PT

Peter Thiel

04/02/15

@ Mercatus Center

There is a cultural perception that programming is a geeky career choice, which has led to a shortage of talent in IT despite its success.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I believe that Japan has become less imitative and more innovative, moving away from simply copying Western ideas.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The names of companies can predict their future success or failure; for example, 'PayPal' is friendly, while 'Napster' has negative connotations.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Facebook was a strong name because it focused on real identities, while MySpace's name suggested a more fictional narrative, leading to its decline.

PT

Peter Thiel

04/02/15

@ Mercatus Center

D4 is marginally better than E4 at this point, but I still always play E4 because it's what I’ve gotten used to.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I enjoy increasing the risk and volatility in the game of chess.

PT

Peter Thiel

04/02/15

@ Mercatus Center

California feels both very optimistic and somewhat desperate, as many people move to Los Angeles to become movie stars, but only a few succeed.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Germany is incredibly pessimistic but very comfortable, which contrasts sharply with California's hyper-optimism.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Mild optimism or mild pessimism is a healthier attitude than extreme versions of either, as they both lead to inaction.

PT

Peter Thiel

04/02/15

@ Mercatus Center

My life expectancy forecast is based on innovations and what I can influence in the next few decades, with a potential upper limit of 100 to 110 years.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Most gains in life expectancy have come from older individuals, not just those over 80, but also those in their 60s and 70s.

PT

Peter Thiel

04/02/15

@ Mercatus Center

I always prioritize substance over status, as focusing too much on prestige can dilute the core message and mission.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Creating vertical progress in innovation is much harder than horizontal progress, which is simply copying existing successful ideas.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The contrarian question for nonprofits is to identify great causes that are unpopular, as those are often underfunded and impactful.

PT

Peter Thiel

04/02/15

@ Mercatus Center

In a world increasingly dominated by intellectual ability, vocational careers that are considered unfashionable can be very rewarding.

MC

Mercatus Center Cast

04/02/15

@ Mercatus Center

I believe that the future of human evolution lies in privately funded, managed, for-profit cities that operate independently from governments.

PT

Peter Thiel

04/02/15

@ Mercatus Center

To innovate on society, we need to find ways to reopen the frontier in geopolitical terms, but it's challenging due to existing constraints.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Democracy and capitalism may not be compatible, and I believe we are not living in a true democracy but rather a representative republic influenced by unelected agencies.

PT

Peter Thiel

04/02/15

@ Mercatus Center

The practice of science has deteriorated due to politicization, where good scientists are often overshadowed by those skilled in navigating grant applications.

PT

Peter Thiel

04/02/15

@ Mercatus Center

Happiness among the super-rich is subjective; while they may have fewer financial worries, excessive wealth can complicate personal relationships.

Peter Thiel on Stagnation, Innovation, and What Not To Name Your Company | Conversations with Tyler

Takeaways