Peter Thiel: Competition is for Losers (How to Start a Startup, 2014)

Business strategy; monopoly theory; capturing value; market dynamics; innovation.

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Outline:

(00:00) Introduction

(00:50) Outline

(00:57) Capturing value

(01:57) Big piece of a small pie

(03:37) Perfect competition

(04:31) Monopoly

(05:33) Lies people tell

(05:36) Differences underestimated

(06:59) Narratives

(07:54) British food in Palo Alto

(08:40) Do the intersections make money?

(08:45) Blockbuster movie

(09:29) Is the intersection valuable?

(09:35) Startup version

(10:11) The search market

(11:00) The advertising market

(11:29) The technology market

(12:36) Evidence of narrow markets

(13:28) How to build a monopoly

(13:39) The right size

(14:36) Start small and expand

(17:05) Start big and shrink

(18:40) Last mover advantage

(18:45) Characteristics of monopoly

(27:10) Value of the future

(27:55) History of innovation

(28:28) Technological innovation

(30:16) Capturing value

(31:59) Success cases

(37:03) Psychology of competition

(38:14) Mimetic preferences

(38:33) Competition as validation

(42:22) Q&A

(42:26) Q1

(43:01) Q2

(43:38) Q3

(44:34) Q4

(46:40) Q5

(47:55) Q6

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Source:
https://www.youtube.com/watch?v=VBYrcYy_dh4