Zero to One_ Notes on Startups, or How to Build the Future ( PDFDrive )

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LESSONS LEARNED’Cause they say 2,000 zero zero party over, oops! Out of time!So tonight I’m gonna party like it’s 1999!—PRINCEThe NASDAQ reached 5,048 at its peak in the middle of March 2000 and thencrashed to 3,321 in the middle of April. By the time it bottomed out at 1,114 inOctober 2002, the country had long since interpreted the market’s collapse as akind of divine judgment against the technological optimism of the ’90s. The eraof cornucopian hope was relabeled as an era of crazed greed and declared to bedefinitely over.Everyone learned to treat the future as fundamentally indefinite, and todismiss as an extremist anyone with plans big enough to be measured in yearsinstead of quarters. Globalization replaced technology as the hope for the future.Since the ’90s migration “from bricks to clicks” didn’t work as hoped, investorswent back to bricks (housing) and BRICs (globalization). The result was anotherbubble, this time in real estate.
The entrepreneurs who stuck with Silicon Valley learned four big lessons fromthe dot-com crash that still guide business thinking today:1. Make incremental advancesGrand visions inflated the bubble, so they should not be indulged. Anyonewho claims to be able to do something great is suspect, and anyone whowants to change the world should be more humble. Small, incremental stepsare the only safe path forward.2. Stay lean and flexibleAll companies must be “lean,” which is code for “unplanned.” You shouldnot know what your business will do; planning is arrogant and inflexible.Instead you should try things out, “iterate,” and treat entrepreneurship as
Page 3 and 4: Copyright © 2014 by Peter ThielAll
Page 5 and 6: PrefaceZERO TO ONEEVERY MOMENT IN B
Page 7 and 8: THE CHALLENGE OF THE FUTUREWHENEVER
Page 9 and 10: century air conditioning, and even
Page 11 and 12: STARTUP THINKINGNew technology tend
Page 13 and 14: A QUICK HISTORY OF THE ’90SThe 19
Page 15 and 16: MANIA: SEPTEMBER 1998-MARCH 2000Dot
Page 17: hurry. A South Korean firm wired us
Page 21 and 22: dogmatically rejecting them. Instea
Page 23 and 24: In this book, we’re not intereste
Page 25 and 26: Think about how Google talks about
Page 27 and 28: between Hackers and Jaws: rap star
Page 29 and 30: RUTHLESS PEOPLEThe problem with a c
Page 31 and 32: monopoly profits provides a powerfu
Page 33 and 34: competed even harder for the standa
Page 35 and 36: Office vs. Docs, and Surface vs. Ne
Page 37 and 38: If you can’t beat a rival, it may
Page 39 and 40: In March 2001, PayPal had yet to ma
Page 41 and 42: CHARACTERISTICS OF MONOPOLYWhat doe
Page 43 and 44: 3. Economies of ScaleA monopoly bus
Page 45 and 46: BUILDING A MONOPOLYBrand, scale, ne
Page 47 and 48: Silicon Valley has become obsessed
Page 49 and 50: YOU ARE NOT A LOTTERY TICKETTHE MOS
Page 51 and 52: CAN YOU CONTROL YOUR FUTURE?You can
Page 53 and 54: merry in the meantime: hence Europe
Page 55 and 56: hubris. You can still visit the Bay
Page 57 and 58: businessman, but actually his own a
Page 59 and 60: opinion exactly, so for the most pa
Page 61 and 62: Francis Bacon wrote that “the pro
Page 63 and 64: American households were saving, at
Page 65 and 66: THE RETURN OF DESIGNWhat would it m
Page 67 and 68: YOU ARE NOT A LOTTERY TICKETWe have
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to understand: we don’t live in a
Page 71 and 72:
The error lies in expecting that ve
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of companies that will successfully
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After 10 years, however, the portfo
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WHAT TO DO WITH THE POWER LAWThe po
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SECRETSEVERY ONE OF TODAY’S most
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WHY AREN’T PEOPLE LOOKING FOR SEC
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are found mostly in history books a
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THE WORLD ACCORDING TO CONVENTIONHo
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THE CASE FOR SECRETSYou can’t fin
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HOW TO FIND SECRETSThere are two ki
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WHAT TO DO WITH SECRETSIf you find
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FOUNDING MATRIMONYWhen you start so
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To see misalignment at its most ext
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ON THE BUS OR OFF THE BUSAs a gener
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VESTED INTERESTSStartups don’t ne
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10
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BEYOND PROFESSIONALISMThe first tea
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compensation or perks, but you can
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DO ONE THINGOn the inside, every in
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11
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NERDS VS. SALESMENThe U.S. advertis
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himself). The polar opposite busine
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The traditional U.S. aerospace indu
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mass appeal but lack any method of
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One of these methods is likely to b
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12
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SUBSTITUTION VS. COMPLEMENTARITYFif
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people. We don’t trade with compu
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computer hybrid approach from PayPa
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generalized artificial intelligence
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SEEING GREENAT THE START of the 21s
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5. The Distribution QuestionDo you
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THE TIMING QUESTIONCleantech entrep
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THE MONOPOLY QUESTIONIn 2006, billi
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Cleantech entrepreneurs’ thinking
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THE DISTRIBUTION QUESTIONCleantech
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gas, and gas prices had fallen more
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THE MYTH OF SOCIAL ENTREPRENEURSHIP
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broader markets in the future.TEAM.
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world needs energy, only a firm tha
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THE FOUNDER’S PARADOXOF THE SIX P
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THE DIFFERENCE ENGINESome people ar
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Where does this strange and extreme
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Another example is Sean Parker, who
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WHERE KINGS COME FROMExtreme founde
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For some fallen stars, death brings
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distinctive persona? Or, in his inc
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the impeccably credentialed executi
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future will look a lot like the pre
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Singularity, an attempt to name the
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Illustration CreditsThe illustratio
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Boyle, RobertbrandingBranson, Richa
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Earnhardt, Dale, Jr.East Asian fina
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housing bubble, 2.1, 8.1Howery, Ken
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dynamism of newlies ofprofits ofpro
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Q-CellsRand, AynRawls, John, 6.1, 6
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globalization andproprietarytechnol
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About the AuthorsPeter Thiel is an
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Zero to One_ Notes on Startups, or How to Build the Future ( PDFDrive )

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