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Theil suggests the opposite – that competition is destructive while a “creative monopoly” is the way of the future. Most of us grew up learning that competition is good and essential. Thiel challenges some of the most widely accepted business “wisdoms”, and challenges us to consider alternatives. Most of us have assumptions about business and what works. We’ll now expand on some of Thiel’s business insights and ideas in the book. Thiel showed how the business “wisdom” in the post dot-com era was actually flawed. Second, much of what we “know” is shaped by circumstances and reactions to past mistakes, and may not be true at all.

The internet held promise of solutions for a globalized world, and indeed, technology and the internet have helped to tackle many challenges of globalization today.

First, although the dot-com mania was short-lived, it was a reflection of growing concerns that the “old economy” wasn’t working.

In the book, Thiel gives a quick recap of the dismal global settings in the 1990s, the rise of the dot-com mania, and the burst of the dot-com bubble in 2000. They became valuable because they uncovered truths behind widely-held (but incorrect) beliefs, hence fundamentally changing our world. Each of these multi-billion dollar companies was once a startup. Globalization is at the heart of horizontal progress, while technology is at the heart of vertical progress.

The most successful businesses in the world – such as Apple, Facebook, Google – achieved success not by copying others, but by creating something fundamentally new. when you move beyond typewriters to invent a word processor. Vertical (intensive) progress, which comes from doing new things that haven’t been done before, e.g.when you improve a typewriter and sell it globally. Horizontal (extensive) progress, which comes from copying things that work, e.g.

In this summary, we’ll be giving a synopsis of the key ideas from the book, including why much of what we believe in may be flawed, and how we can think about and create truly valuable businesses that shape a better world.ĭo check out our complete book summary bundle or read the book for more details! How did companies like Google, Paypal, Amazon and Telsa become so successful, and how can you get there as a startup? In “Zero to One”, Peter Thiel – a billionaire entrepreneur and investor who co-founded PayPal and Palantir, and invested in hundreds of startups including Facebook and SpaceX – shares his insights about business and entrepreneurships.