Business Books

Michael Jordaan reviews PayPal founder’s book on how to build a great business

(Click here for more from Bruce Whitfield's "The Money Show".)

(Click here for more business book reviews.)

Only losers compete, says PayPal co-founder Peter Thiel in his new book entitled “Zero to One: Notes on Startups, or How to Build the Future”.

What he means is that you should aim to create a monopoly if you want your business to be a great one.

We live in an age of technological stagnation, claims Thiel rather controversially. Too many businesses are doing something that another already does.

In “Zero to One” Thiel provides tools for entrepreneurs so they can think for themselves and do something new.

The next Mark Zuckerberg will not build a social media platform. The next Elon Musk won’t be into electric cars or rocket ships (or online payments!). Future mega-entrepreneurs simply won’t have to compete, because what they offer will be unique.

Mull over that for a moment or three…

Scroll down for quotes from the audio below. Michael Jordaan, former CEO of FNB, venture capitalist and technology enthusiast, reviews “Zero to One”.

It’s a challenging book and I don’t necessarily agree with everything in it. For example, Thiel doesn’t value a university education all that much. However, the book really made me think and I re-read large parts of it.

Michael Jordaan

Thiel says that the purpose of your existence in business should be to create a monopoly.

Michael Jordaan

The next great opportunity won’t be in IT, but in one of the more neglected sciences.

Michael Jordaan

Thiel derides the notion of a “lean startup”. I don’t agree with him. In South Africa we overestimate the necessity of funding in order to create a start-up.

Michael Jordaan

Thiel says you should only make a movie if you’re going to win an Oscar with it. I disagree with this. There are many worthwhile movies that won’t ever win an Academy Award.

Michael Jordaan

Thiel says the higher a startup CEO’s salary, the more likely it will fail. Dress code, he says, is wholly unimportant.

Michael Jordaan

I’m excited about Silicon Cape. It’s important to find a niche that’s relevant in South Africa. Don’t try to copy the guys in Silicon Valley.

Michael Jordaan

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