Peter Thiel座談會心得筆記Day 1

Peter Thiel Seminar
no formula for enterprenuership
only one zuckerberg for sns, only one gates for one os system
indirect intellectual question is what great company is not established, its hard because its socially uncomfortable, interesting answers are ones people not like to hear, people dont think make sense, you dont get support early on
so much better to monopoly
if you want to compete like crazy, just open an restaurant
people in monopoly dont want to talk about it
technology-company like google said themselves, they say they compete with technology company  or even car company from detroit, two ends compete crazy or monopoly dont talk about it
20000 power seller, went up gradually, then you expand
we’re trained to compete, from the school education, if you can get out of competition, school team, students’s identities were wrapped up with the school, competition can make us better, but losing whats really important, losers competing for unmeaningful things, rewards are so small, people fighting crazy for smaller and smaller things
the largest cohort group keep doing the wrong things, imitation can be very bad thing, very wrong, although we need to pass on our cultures
all trends are overrated, you should be suspicious about it, more buzz words you use, you’re weaker, big data, cloud, you’re in the category people are already understand, then you’re not differentiated, some category are even mislabeled
7 years before facebook, social net by reid hoffman, facebook wins because real identity, critical question always whats unique, gives you edge over time, as compare to real identity to sns, pagerank to search, not trend, but that unique thing, dont follow the trends, need to be skeptical
business strategies are most important, need to work toward monopoly, team work in start-up, as compared to academic achievement, as you compete with everybody
facebook成立的七年前,我好友Reid Hoffman就已經看到了「社群」,並成立了一個網站叫做social net,但後來facebook還是贏了,他們贏在真實身份,不是贏在「社群」,就像google贏在pagerank機器運算法,不是贏在「搜尋的趨勢」,所以不要相信趨勢,相信自己最獨特的優勢,可以隨著時間而漸趨獨佔的「點」
categories peter will never invest, 
“blind spots” peter invests airbnb but not uber ,because people like black car but don't sleep on couches, this is investor’s blind spots
twitter’s management is horrible, bad and very bad
if you open a restaurant, the management must be good, 
but twitter has a great idea, too powerful to make up for a lot
a lot of thing went wrong in PayPal, but still workout, just solve one by one as time goes
absolute value, not owner’s percentage, fast compounding rate, it can still very powerful, grow 7-8% per day, then compound it daily. worth more then raising extra capital, enormous premium, take over the world then make money, rather then make money then take the world (market share), you have to grow fast, prove it works, every business that fast-growing, self-sustainable, all turns out pretty good,
“better version of question” can be…
facebook makes money from advertising, advertising and more advertising, but it boring to say that, excess possibilities at original time
nothing else matters for apple, if you make fortune selling iPhones, nowadays iPhones can be pc back then, so maybe  there’s incremental changes and improvements
silicon valley still underestimating chinese company to expand to the rest of the world, but china is deeply political, quietly strict regulated, will Jack Ma stay close and behave with the government, the chinese subsidy can really compete with google outside china
about media, the challenge is on business model and strategy, not technology
Day 2 演講逐字稿和中文翻譯


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