Peter Thiel co-founded Paypal, he was born in Frankfurt in 1967 and is now a venture capitalist. His book  Zero-to-One arose from a lecture for start-ups. It is refreshingly different and sometimes delightfully provocative – his tips for startups and other entrepreneurs:

  • Monopolies are good – too much competition is bad
  • Start small
  • Search a market niche  – expand the market later
  • Avoid the competition wherever possible
  • Be 10 times better than what is currently available – in best case
  • Everything happens only once,  don’t want to be Google, Facebook or Apple
  • Best practice todayleads to a dead end  tomorrow
  • Technology means  to achieve more with less
  • There are no panaceas
  • The distribution is as important as the technology
  • Technology companies should be performed by technicians
  • Creative monopolies are gains for all
  • The value of a company is determined by its future profits
  • Important are the right partner
  • The bubble  of green environmental technologies has burst
  • Ask yourself:
  • Is your technology revolutionary?
  • Is it the right time?
  • Is it a monopoly?Is there a good team?
  • Have you identified a unique opportunity?
  • Can it  continue for 10-20 years?

Besides the known success and failure stories, there are also companies that have obviously done everything right like  TESLA.

Unfortunately, there is no silver bullet.  I think in addition to a lot of courage,  good expertise, the right time,  the right nose and the right connections, you  just need a lot of luck.

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