The advantage of this it makes the product difficult or impossible to replicate. All failed companies are the same: they failed to escape competition.” What are the characteristics of monopoly? All happy companies are different: each one earns a monopoly by solving a unique problem. The competitive ecosystem pushes people towards ruthlessness or death. “if you want to create and capture lasting value, don’t build an undifferentiated commodity business. It must question received ideas and rethink business from scratch.” Why is monopoly better than competition? “A startup is the largest group of people you can convince of a plan to build a different future. Sales matters just as much as product What is The definition of a startup It is better to risk boldness than triviality These lessons have become a kind-of philosophy he says nd yet the opposite principles are probably more correct “What important truth do very few people agree with you on?” he illustrates this with an example of the dot com bubble where entrepreneurs who stuck to Silicon Valley learnt the following lessons. Indeed, the single most powerful pattern I have noticed is that successful people find values in unexpected places, and they do this by thinking about business from first principles instead of formulas.” What is the contrarian question Peter asks when interviewing? “There exists no formula to teaching entrepreneurship, because every innovation is new and unique, no authority can prescribe in concrete terms how to be innovative. “Technology is miraculous because it allows us to do more with less.” Is there a formula to entrepreneurship? This book is about the questions you must ask and answer to succeed in the business of doing new things. But every time we create something new, we go from 0 to 1.” What is the book about? “Doing what we already know how to do (copying a model) takes the world from 1 to n. 8 questions about entrepreneurship that Peter Thiel answers in his book will guide you to building your startup that sees vertical progress.

Blake masters book