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
Recommendedby THE NEWSROOM
We review Walter Isaacson’s (author of bestselling biography of Steve Jobs) new book on the history of our Digital Revolution.
Gateways Business Consultants MD Ian Mann reviews the inspiring, yet practical, “A Beautiful Constraint" by Adam Morgan.
We interview the author of a terrifying new book on the rise of the US Military-Internet Complex. Big Brother is watching...
We talk to the author of “Retiremeant: Get The Most Meaning from Your Money”, a book on living the best possible life after work.
True creativity is not only for geniuses, argues Kevin Ashton, author of "How to Fly a Horse".
In “Becoming the Boss" author Lindsey Pollak offers real-world, actionable tips for young professionals.
We speak to the author of "How much is enough? – Maximising Wealth and Well-being”; a personal finance book like none other.
We review “The Gen Z Effect: The Six Forces Shaping the Future of Business”. It’s a hopeful, brave new world. Generations unite!
Akash Karia, author of “How to Design TED Worthy Talks”, has a few practical tips on mastering public speaking.
Gill Marcus calls it “one of the most important books of this century”. 5 thought leaders debate Thomas Piketty’s tour de force...
Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.
Several communications devices were confiscated from businesses in a raid by Icasa at China Mall on Wednesday.
The Money Show's Bruce Whitfield interviews Rain Director Michael Jordaan about his money beliefs and history.
Flux Trends founder Dion Chang gives five reasons why he believes getting a degree is past its sell by date.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
The National Student Financial Aid Scheme (NSFAS) will pilot a new funding model in 2017. NSFAS chairperson Sizwe Nxasana explains.