Peter Thiel, co founder of PayPal, one of Silicon Valley’s most successful venture capitalists have of late, wrote this book recently, zero to one. And this was based on a series of lectures, it was evening at Stanford. And it was a first time when I saw this.
This video, I think I saw it in 2012. Further notes, excuse me, I started in 2014. But it was first recorded in 2012. And when I saw this one hour talk that he gave, it was the first time that I heard the word monopoly be used. Because I had this inkling that by laying down the platform that we laid, it was inevitable that we would end up with a monopoly. Because what else eventuates I can’t, I couldn’t think through any other scenario. And so when he essay, this idea that you can have a monopoly and that there is a way to do it, and that monopoly isn’t a bad thing.
Competition, he says is for losers. He says competition destroys capital. Makes perfect sense to me. It’s not efficient. So he also said in zero to one that you have to have a secret. Now, clearly, I’m not going to tell you what I secret is, right? But what I can tell you is that everything that I show to you today, if you take these concepts and replicate them in your niche, you will be successful. You don’t need to know my secret. My secret is, you know, the thing that keeps me asleep at night and that’s why I can tell tell everybody what’s going on. Because I know something that the people who naturally would need to know what I know to be able to glean what I’m gleaning. I’m not certain that they’re in a position to understand what that is. Anyway, you need a secret and we’ve got a secret.