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This is what I understood from Peter's main point: - If you're copying or offering relatively the same service/solution as other incumbents, then your startup

This is what I understood from Peter's main point: - If you're copying or offering relatively the same service/solution as other incumbents, then your startup is a loser (Don't lie to yourself) - If you want to be a status quo challenger startup but your idea is a copy or similar to another existing provider, then your startup is a loser! (Stop pretending it's your idea but you know you stole from someone else) - If you don't have an opinion or outlook for a better future; solving real problems; or inventing solutions for problems people/business never knew they had but most appreciate, then your startup is somewhat a loser. (Not everyone should become an entrepreneur, we need a lot more employees!) Pretty general yes, but the notion is to challenge the creative juices and encourage taking risks. No risk, no reward! Peter doesn't like "wanna be's" ... Are they a loser by nature for copying ideas, as supposed to original minds? There are a lot "entrepreneurs" with ZERO imagination/creativity, and most constantly wonder why they cannot crack it. So maybe there's some truth to it! But then again we've seen copycat startups succeed as well!

marcus_holmes 5y ago
Bear in mind that his perspective is as an investor. He doesn't want to invest in something that will make the founder rich and happy. He wants to invest in something that will make him rich and happy. There's a huge difference. He's negative about copycat startups because they rarely make enough money to make their investors happy. He likes monopolies with product:market fit because they generally make investors happy. However, as a founder, what he likes should be waaaay down our list of priorities. Our happiness and definition of success may not match his. In fact it almost certainly won't. Follow our own dreams, not Peter Thiel's. I like the author's take on his new thing: don't sell the vision and get investment. Instead, just execute and see where that goes. I look forward to seeing where that goes :)

marcus_holmes 5y ago

Bear in mind that his perspective is as an investor. He doesn't want to invest in something that will make the founder rich and happy. He wants to invest in something that will make him rich and happy. There's a huge difference. He's negative about copycat startups because they rarely make enough money to make their investors happy. He likes monopolies with product:market fit because they generally make investors happy. However, as a founder, what he likes should be waaaay down our list of priorities. Our happiness and definition of success may not match his. In fact it almost certainly won't. Follow our own dreams, not Peter Thiel's. I like the author's take on his new thing: don't sell the vision and get investment. Instead, just execute and see where that goes. I look forward to seeing where that goes :)