First, only invest in companies that have the potential to return the value of the entire fund.
Peter ThielWhen 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 ThielThere are many more secrets in the world that are waiting to be found. The question of how many secrets exist in our world is roughly equivalent to how many startups people should start.
Peter ThielWhen you already have $150 billion a year in revenues from the iPhone, it's very hard to come up with any new vertical that will sort of move the dial. And there's this sort of weird effect where the larger a company gets, the harder it is to come up with any new product that really moves the dial.
Peter ThielSuperior sales and distribution by itself can create a monopoly, even with no product differentiation. The converse is not true. No matter how strong your product-even if it easily fits into already established habits and anybody who tries it likes it immediately-you must still support it with a strong distribution plan.
Peter Thiel