Zero to One — Peter Thiel

 

Rating: ★★★★½

Review: Written by the entrepreneur, co-founder of Paypal and consummate risk-taker Peter Thiel, along with one of his former students at Stanford, this book argues that, contrary to popular belief, innovation has actually been on the decline in recent decades.

In its place, globalization has proliferated, resulted in mass-production, which increases our supply of existing products and services, but doesn't create anything new.

Overall, it is a compact, accessible work that offers some profound insights into the process of company-building and innovation. I was particularly delighted by the chapter entitled Secrets, which presents a refreshing, invigorating worldview where hidden insights are waiting for you to uncover, analyze, and share them. 

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This book is essentially a call-to-arms for those considering starting their own business or who want to work on creative, groundbreaking, challenging problems.

What I learned: 

Competition actually eviscerates profits and hinders innovation. 

Monopolies are not all evil, soul-crushing entities. In fact, institutions that have 10x advantages like Google can earn substantial profits which can be invested in designing and developing innovative products and services that benefit all. 

In a time of uncertain pessimism, a framework of definite optimism can help you change the world.

There are still secrets out there to be discovered and shared. If you can do so well and at scale, you will create and capture value.  

There are seven questions every business/start-up must answer:

#1: Can you create breakthrough tech, products or services?

#2 Is now the right time to start your business?

#3 Are you starting with a big share of the market?

#4 Do you have the right people?

#5 Can you effectively, efficiently create and distribute your product?

#6 Will your company be tenable in 10 years from now? 20 years from now?

#7 Have you come across secrets others don't know yet?

My favourite lines: "every one of today's most famous and familiar ideas was once unknown and unsuspected." 

"long-term planning is often undervalued by our indefinite, short-term world"