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Peter Thiel has a talk titled "Competition is for losers". It sounds familiar to this paragraph: > If you try something easy, there will be five other companie
by 29athrowaway 6y ago
Peter Thiel has a talk titled "Competition is for losers". It sounds familiar to this paragraph:
> If you try something easy, there will be five other companies doing the same thing two months later. But if you try something that’s difficult at first, everything gets much easier as soon as you make it through those initial challenges. Competition will be lower, because everyone else thought it was too hard.
- burade 6y agoThis sounds like survivorship bias. Theranos tried to make something hard, burned through money, and it didn't work out.
- Daishiman 6y agoThere's a difference between doing something hard and running a scam.
- 627467 6y agoRegardless of what theranos was actually trying to do, saying: you should try to do something hard first because it then becomes easier to do subsequent things, doesn't mean guaranteed success at achieving hard goals.
- epx 6y agoThey overpromised and doubled down on scams. The core idea was good, read somewhere that some ex-Theranos people are working on more realistic/humble implementations of that same idea.
- 29athrowaway 6y agoTheranos defrauded investors, healthcare services and patients. The product did not work but they pretended that it did.