When you are starting a new business you don't want to go after giant markets. You want to go after small markets and take over those markets quickly.
Peter ThielRivalry causes us to overemphasize old opportunities and slavishly copy what has worked in the past.
Peter ThielThe most successful businesses have an idea for the future that's very different from the present.
Peter ThielI think China thinks information technology is less important than we think it is in the US, economically, and more important politically. And so Chinese internet companies are extremely political, they're protected behind the great firewall of China, and investment in Alibaba is good as long as Jack Ma stays in the good graces of the Chinese communist party. Alibaba is largely copying various business models from the US; they have combined some things in interesting new ways, but I think it's fundamentally a business that works because of the political protection you get in China.
Peter Thiel