Why I Disagree with a Multi-Billionaire

Founder of PayPal — Peter Thiel and His Points that I have contentions with

Peter Thiel — Silicon Valley Legend

#1 Competition — is it validation or insanity?

A big recurring theme across a lot of what Thiel talks about is the idea of competition and differentiation. In Thiel’s eyes, he views competition as insanity. For example, if you decide to create a pizza shop in New York City that would be insane because there are already thousands of pizza shops that are doing the same thing.

Pizza Shops are characterized as Perfect Competition
Amazon’s growth can be attributed to the macro-growth of the internet.

#2 — You Don’t Learn a Lot From Failure

This is the other point I do not see eye-to-eye on Thiel. In one of his talks, Thiel mentioned how when you fail at a start-up there were so many different variables you could have failed at — wrong team, wrong product, the wrong market, wrong timing — you don’t pinpoint what you failed at then just continue to fail.

Daily Journaling is really great at uncovering learnings from failures

TL;DR

  • I agree with Peter Theil on a lot of things — taking agency over your own life, not looking back into the past, and creating plans for the future.
  • I disagree with his take on the competition — I see competition as a validator, and depending on the circumstances I don’t think it is insane to be doing things everyone else is doing
  • I disagree with his take on failure — you can learn from any failure, it all depends on your perspective of that failure.

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