Notes from Peter Theil on TWIS
Here are my raw notes (essentially interpretation of what Peter and Jason talk about). And my thoughts.
- Rather than looking at competition, look at monopoly. They may or may not be good for society per se, but for the business, its really cool.
- Look for weak competition or still better, no competition. Example: Tesla competes with GM and GM is not even thinking of innovating.
- Look at complex coordination opportunities. For SpaceX (rockets), Tesla (electronic cars), Apple (first iPhone), all the components existed. Someone had to put them all together.
- Solve hard problems rather than easy or impossible ones.
- After this when they talked about AI and other things, I lost track of things. I know its important and all that. But I just dont get it. And I’d rather stay away for the time being. Though I loved the quip when he said, “if everyone thinks that it’s going to get built, no one will.”
- Don’t be the nth company in an industry with little or no differentiation. You rather be not fitting in any category. But then why would someone invest in the likes of housing where they dont really have a differentiators?
- Peter is invested in businesses that may benefit from drugs. Not in farming per se but in something close. Need to investigate.
- Peter is 47 and so so fit. Need to become that.
- Peter is pretty open about things. I like that about him. No wonder he does well. Of course he has opinions but then he is very open about things.
If you’re reading this, you have to have to have to read Peter’s book, Zero to One. I shall post notes from that one of these days.