Peter Thiel is worth $7.19 billion dollars.
His secret to investing in success?
These 7 questions:
His secret to investing in success?
These 7 questions:
1/ The Engineering Question: Can you create breakthrough technology instead of incremental improvements?
Going from 1 โ n means doing more of what has already been done.
Going from 0 โ 1 means doing something that has never been done before.
Is your offer groundbreaking?
Going from 1 โ n means doing more of what has already been done.
Going from 0 โ 1 means doing something that has never been done before.
Is your offer groundbreaking?
2/ The Timing Question: Is now the right time to start your particular business?
Sequoia Capital asks every startup this question: Why now?
It is often better to be the last company to market vs the first.
Hit the timing right and take down the entire market.
Sequoia Capital asks every startup this question: Why now?
It is often better to be the last company to market vs the first.
Hit the timing right and take down the entire market.
3/ The Monopoly Question: Are you starting with a big share of a small market?
Don't build your startup in a large market.
Start by dominating your niche.
Bezos focused on dominating a small niche marketโ online books.
Don't get 1% of a $1B market, get 80% of a $1M market.
Don't build your startup in a large market.
Start by dominating your niche.
Bezos focused on dominating a small niche marketโ online books.
Don't get 1% of a $1B market, get 80% of a $1M market.
4/ The People Question: Do you have the right team?
Example: failure of clean-tech VC in 2000s.
Clean-tech executives would run around wearing suits & ties.
This was a red flagโ real technologists wear t-shirts & jeans.
Thiel passed on founders who 'dressed up' to pitch.
Example: failure of clean-tech VC in 2000s.
Clean-tech executives would run around wearing suits & ties.
This was a red flagโ real technologists wear t-shirts & jeans.
Thiel passed on founders who 'dressed up' to pitch.
5/ The Distribution Question: Do you have a way to not just create but deliver your product?
Every successful product/service has an effective distribution channel.
Marc Andreessen advises founders to hustle to get their product in the hands of peopleโ the world is a big place.
Every successful product/service has an effective distribution channel.
Marc Andreessen advises founders to hustle to get their product in the hands of peopleโ the world is a big place.
6/ The Durability Question: Will your market position be defensible 10 and 20 years into the future?
In 2002, 80% of the value of PayPal came from cash flows received in 2012.
Be a monopoly in a small market.
You get to grow as the market grows and escape competition.
In 2002, 80% of the value of PayPal came from cash flows received in 2012.
Be a monopoly in a small market.
You get to grow as the market grows and escape competition.
7/ The Secret Question: Have you identified a unique opportunity that others donโt see?
"If there are many secrets left, there are many world-changing companies yet to be started."
Most good ideas donโt look like good ideas at the start.
Are all the hard problems solved?
"If there are many secrets left, there are many world-changing companies yet to be started."
Most good ideas donโt look like good ideas at the start.
Are all the hard problems solved?
TL;DR:
1/ The Engineering Question
2/ The Timing Question
3/ The Monopoly Question
4/ The People Question
5/ The Distribution Question
6/ The Durability Question
7/ The Secret Question
1/ The Engineering Question
2/ The Timing Question
3/ The Monopoly Question
4/ The People Question
5/ The Distribution Question
6/ The Durability Question
7/ The Secret Question
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