Competition is for Losers with Peter Thiel (How to Start a Startup 2014: 5)

Description

Lecture Transcript: http://www.tech.genius.com/Peter-thiel-lecture-5-business-strategy-and-monopoly-theory-annotated

Peter Thiel, founder of Paypal and Palantir, discusses business strategy and monopoly theory in "Competition is For Losers".

See the slides and readings at http://www.startupclass.samaltman.com/courses/lec05

Discuss this lecture: http://www.startupclass.co/courses/how-to-start-a-startup/lectures/64034

Chapters (Powered by https://bit.ly/chapterme-yc) -

00:00:00 - Introduction

00:00:50 - Outline

00:00:57 - Capturing value

00:01:57 - Big piece of a small pie

00:03:37 - Perfect competition

00:04:31 - Monopoly

00:05:33 - Lies people tell

00:05:36 - Differences underestimated

00:06:59 - Narratives

00:07:54 - British food in Palo Alto

00:08:40 - Do the intersections make money?

00:08:45 - Blockbuster movie

00:09:29 - Is the intersection valuable?

00:09:35 - Startup version

00:10:11 - The search market

00:11:00 - The advertising market

00:11:29 - The technology market

00:12:36 - Evidence of narrow markets

00:13:28 - How to build a monopoly

00:13:39 - The right size

00:14:36 - Start small and expand

00:17:05 - Start big and shrink

00:18:40 - Last mover advantage

00:18:45 - Characteristics of monopoly

00:27:10 - Value of the future

00:27:55 - History of innovation

00:28:28 - Technological innovation

00:30:16 - Capturing value

00:31:59 - Success cases

00:37:03 - Psychology of competition

00:38:14 - Mimetic preferences

00:38:33 - Competition as validation

00:42:22 - Q&A

00:42:26 - Q1

00:43:01 - Q2

00:43:38 - Q3

00:44:34 - Q4

00:46:40 - Q5

00:47:55 - Q6