1. Bet on a Contrarian Truth 2. Start by Dominating a Small Market 3. Strive to be a Monopoly 4. Become a Trillion dollar company 5. Pay everyone that works for you min wage so they can be on welfare and do NOT give them healthcare ins!!!
TLDW - Bet on a contrarian truth = what important truth do very few people agree with you on? Means doing something no one else is doing, before they do and doing this at the right time Start by dominating a small market = think Amazon starting with books only. You can scale up from one thing rather then trying to many things at the same time. Strive to be a monopoly = Google. Think no one else can do it like you do.
Your videos are always so insightful and this one is no exception! I have a couple of questions about the claims in this video, however: How do I figure out a contrarian truth whose time has come? I mean, how do I go from zero to one, to paraphrase the book's title, when formulating/choosing what contrarian truth to bet on? Are there any coaches or mentors I can learn about this from? Also, how do I know if my answer to the question at 2:50 is right or wrong?
Thank you very much for such an excellent summary. However, how is this concept by Peter Thiel relates to his talk on the topic of "immortality" as mentioned? Could someone please help me connect to the man because I have few ideas that could take him to few more levels much higher than and beyond what he was hinting at. For what he is aiming at, for sure, he will need all the help he could get. altc
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I’ve just spend 1 1/2 year designing and engineering a product that I would have thought was a stupid idea prior to reading Zero to One. It really makes sense.
The monopoly is good thing is very badly explained. As if google has to be a monopoly to do a few little good things like free internet and google maps doesn’t even make sense as an example for that, because they make money with google maps LOL. Would be the same as saying look guys it’s good I am a dictator, because I help people getting jobs, while in the meantime I make sure my power stays the way it is or even increases, just like good does…
Brand and scale is hard and takes year to achieve. On the other hand, network growth can be exponential and could be reached in a much smaller time frame.
The insight that you should dominate a small market first in order to become a giant is so true. In my experience, I’ve found that focus on success in something you can manageably achieve is key.
My first entrepreneurial book so far, not even halfway through it but I already know its gonna be my best book. I've got The Lean Startup coming up next, hard to say if I would even need that after finishing this one.
How has no one commented that the initial info on Peter Thiel and Paypal is pretty misleading. The way he words things it isn’t clear at all if Thiel is a co-founder or solo founder. Just says he founded PayPal and then says he sold it to eBay. Thiel was CEO of PayPal when eBay bought it, but that doesn’t mean he was the main person responsible for the sale. And the founder thing, PayPal had 3 other founders. For something that is definitely directly incorrect, Peter Thiel wasn’t CEO when Reid Hoffman, founder of LinkedIn, joined PayPal. So why is he being credited as the person personally hiring and mentoring Reid Hoffman among all the other non-founders of the PayPal Mafia?
Sein Buch "Zero to One" ist ein "must read" für jeden jungen Menschen. Die Jugend, die heute dringender denn je darüber nachdenken muss ihre eigenen Perspektiven zu schaffen anstatt bloss darauf zu warten, dass ihr, wenn überhaupt, von irgend jemandem eine geboten wird.
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6:50 "...fixed operating costs per item are incredibly low." Incorrect wording. Any cost "per item" is an OPERATING cost. A FIXED cost is FIXED no matter what your sales volume is. E.g., the electricity bill for the lights in the warehouse are the same regardless of whether you ship a thousand items a day or zero. That is a FIXED cost. Shipping and handling is a per item cost, and does indeed depend on each individual item, therefore, technically, an OPERATING cost, even though companies typically slap on a "fixed" Shipping and Handling CHARGE on every item. Amazon can ship a sofa for $0 because the true COST of shipping it is either built into the price or absorbed as a cost of doing business at a top level. Please use your accounting terms correctly.
Note: The greentech revolution will never happen with Solar or Wind, as there is not enough baseload. It will happen with small modular nuclear or fusion power plants.
I love your content. So interesting and straight to the point. I love the pace also. I wish those lessons could be reminded to us so that we don't forget them.
Hi Celine I know how it feels like to forget these awesome lessons And I bet what I'm about to tell you will help a lot... What I have in mind to is something called SUPER BRAIN It's a combination of ancient techniques that'll blow your mind These memory techniques are used in our every day lives but not sufficiently enough in things that matter to us (for example, learning how to learn)... In this program, Mr Jim Kwik talks his students through ancient memory techniques and almost all of them tremendously transition - not to become memory experts but to be able to memorize while at the same time maintaining core concepts of what they learn Some of his techniques have been used by hollywood actors like will smith (just to name a few) to memorize scripts, to learn foreign languages...and best of all, to deliver speeches without notes... How awesome is that? In fact, these concepts will help you avoid cramming or the typical ways of making things stick ... The funny thing is that some of the concepts I've learned from him are use by children...and you won't believe how powerful they are... In short, just like Mr.Kwik says, there's no such thing as good or bad memory, but what we might suffer from is an untrained memory... I hope this was helpful Celine
You didn't talk anything about the whole zero to one concept. That is the crux of the book as to why you should create products that are new and aren't just mere improvements to existing products. I think you should have mentioned that here in the video. That was one of the unique and powerful message that this book conveys. I think you ripped the soul of the book.
Fantastic channel. I love the idea to get a grip on core ideas presented in a book. Then when you decide to read, you digest it better, like reading the second time. Thank you.
This guy is so dedicated and excellent in his videos. I've had the book in my phone but hadn't paid attention to it. Now I'm so eager to listen to read it
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Thiel believes in creating your own monopoly. That may work for mega corporations, but at the small business level? How can you create a monopoly on a shoe string budget? How many Amazons are there? This advice seems like advice that very few people would be able to use.
Hi, I absolutely love the work that you do, thank you for all the hard work. One thing that sticks out for me is the illustration technique that you use. Could you please tell me what software do you use for the drawings? I'm a computer science tutor and I would like to do something like this for my students.
Wow just had your channel popup in Recommendations, very interesting, thank you for all your time creating these videos, now I will spend the day watching many more :)
1. Bet on a Contrarian Truth 2. Start by Dominating a Small Market 3. Strive to be a Monopoly 4. Become a Trillion dollar company 5. Pay everyone that works for you min wage so they can be on welfare and do NOT give them healthcare ins!!!
Thanks for this book summary. This is one of my best books. I love this book, This book gives me inspiration, motivate me and get me knowledge of think differently. 🍂👏👏👏👏
Pete Thiel talked about solar enterprises and their failures at a Stanford talk. He said they made the mistake of being a big fish in a big pond approach. They didn't go for a niche market. They immediately thought in global terms which he said was a mistake and what lead to them failing.
I liked the video but this was not an accurate representation of the book. Sorry but you missed the main points/message. Good job including your own examples but I found them too complex. Btw Jeff Bezos never imagined creating anything more in the beginning of Amazon other than an online bookstore. It wasn’t until he polled customers until he realized people just want anything they need at the moment, so Jeff realized they could sell anything this way and thus you have modern day Amazon.
Good content, though I don't buy the bit about monopolies being good for society one bit. I can't believe Thiel tried to argue that. Yes they make huge profits, but that's because they can overcharge customers. Just because they put a small fraction of it to good causes doesn't mean it's a great idea.
However there is a better chance your "truth" is wrong and the business will fail. I find it easier and safer to bet on a proven business and imitate what is already working
"War is peace; Freedom is slavery; Ignorance is strength"...... oder Peter Thiel "Freiheit und Demokratie passen nicht zusammen"...... Das ist Totalitarismus 2.0
Thankyou for providing great value. If I were to take x dollar from a group and gave back x dollar would it be considered a good act? A normative statement cannot be derived from a positive.
I don't think monopolies are good. competition is good for the consumer. monopolies are way too powerful. with that being said, its great for the companies absolutely.
Abdellatif Reslanebnnj Good contrasted to corrupt and enforced by governments officials and biased procedures preferring corrupt businessmen with strong connections offering sub standard products and services at high prices to population who do not have any other choice.
When you enter in small market still there are changes that your idea get copied and competitor goes much ahead of you.create bigger brand than yours any solution for this ?
Depends on what you mean by "enough". Enough to be the the next Peter thielen? That'd be no. LOL Enough to understand the main points of the book, probably yes. Depends how interested you are in the topic and really want to learn the information, then read the whole book.
Is this in anyway useful to small businesses who are trying to compete in competitve markets. This is for people trying to create the next multi billion dollar idea.
I dont think so. This idea is more for creating the next big thing. But you can definitely learn from this. Even if your not going to become the next Steve Jobs its still good to understand this concept.
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Easy "COMPLETE SUMMARY CHART" for ZERO TO ONE. Kindly Respond to get Access to Digital Sample. "SO WELL MADE THAT YOU WILL NEVER FORGET ANY CONCEPT FROM THIS BOOK.".
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Your videos are amazing! I care for children and it is a challenge to dedicate the time needed to read books. The material is well summarized and dense in a fantastic way. I find myself pausing it to take notes. I am a subscriber now and hope to see more. What a wonderful way to be exposed to so many enlightening materials and messages. Thank You.
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