Customers wonโt care about any particular technology unless it solves a particular problem in a superior way. And if you canโt monopolize a unique solution for a small market, youโll be stuck with vicious competition.
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 ThielValue investors look at cash flows. If a company can maintain present cash flows for 5 or 6 years, itโs a good investment. Investors then just hope that those cash flows - and thus the companyโs value - donโt decrease faster than they anticipate.
Peter ThielThere's been a lot companies that have shown "zero to one" kind of growth in the computer, internet software age. Facebook and Google are zero to one companies. Apple's iPhone was the first smartphone that really works, and of course, then you scale it horizontally, but the vertical component was really critical. Space X would also be one.
Peter ThielThe college kids should think hard about what they're doing. If you have a great idea for a company, there's no right time to start it, and it's often better to start it sooner rather than later. I went to Stanford undergrad and Stanford Law School, and if I had to do it over again, I might still do those things, but I wish I had asked the type of questions like, why I was doing it, was it just for the status and prestige, or was it because I was really interested in the substance of it.
Peter Thiel