Growing up, some of us may have been told not to be so contrary. Theil’s crucial bit of advice is that once we gain monopoly over a small market, we can gradually expand the footprint. For example, the e-commerce giant Amazon started by selling books online, and only after they had become the go-to online book retailer did they begin tapping into other market avenues and expanding their product offerings. To begin with, cast a little net and focus on serving a specific target audience. The author suggests that instead of rapidly expanding, a business needs to be a dominant player in a distinctive market/area-focus on a particular market, serve the target audience and become a monopoly.
People make the blunder of scaling up their start up too quickly and then collapse. Patent filing too, in a way, endorses monopoly.
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If they didn't have this search engine monopoly, it would be impossible to pursue projects like free email for everyone, self-driving cars, and open access to Google Maps. However, they can also use their resources creatively to improve their business and do good for society. With so little competition, they can set their prices and profit up to 25% of revenue. However, Peter puts in a contrarian argument saying monopolies are essential for innovation in many cases.įor example, Google clearly has a monopoly in the market when it comes to the search engine industry.
Thiel has a clear understanding of what it takes to build and scale up a successful tech- based business. He emphasizes on vertical growth rather than horizontal progress, and questions what is valuable and innovative for the business in the current landscape.
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He talks about how to scale up without competing with others, and what to focus on to get that innovative edge over others. They will surpass the competition altogether by creating something that has never existed before, says the author.īillionaire venture capitalist and entrepreneur Peter Thiel, the author, discusses how to build startup companies that focus on creating something of value that's very new to the world. Tomorrow's tech-industry leaders won't just continue to build companies on today's technical innovations. But when we create something singular that did not exist before, we go from zero to one.This central concept of the book Zero to One by Peter Thiel is all about inspiring and motivating us to think of unique ideas. When we get insipiration from Steve Jobs/Bill Gates, to build another five companies like Apple or Microsoft we go from one to n.
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