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You Need To Read 'Zero to One'
Zero to One is a book written by Peter Thiel, the co-founder and CEO of Paypal, which he sold to eBay in 2002 for $1.5 billion. After the sale, Peter's original team, whom he hired and mentored, went on to create some of the biggest companies known to date, such as Yelp, LinkedIn, and Youtube, which have fundamentally changed the way we use the internet today.
QUOTE OF THE DAY
“All failed companies are the same: they failed to escape competition”
ZERO TO ONE
381 Words | 1 Min 23 Sec Read
Zero to One is a book written by Peter Thiel, the co-founder and CEO of Paypal, which he sold to eBay in 2002 for $1.5 billion.
After the sale, Peter's original team, whom he hired and mentored, went on to create some of the biggest companies known to date, such as Yelp, LinkedIn, and Youtube, which have fundamentally changed the way we use the internet today.
Based on the number of successful companies that this man has influenced, he clearly knows the secrets to creating billion-dollar companies that he shares in his book ‘Zero to One'.
That's the book that we are going to dissect today and pull three major lessons from…
Lesson 1: Bet on a contrarian truth.
All of the biggest companies that we use in our daily lives are products of a contrarian truth, from Steve Jobs to believing everyone would have a computer in their pockets.
Or Uber and Airbnb, who believed that people would willingly get in strangers cars and sleep in strangers houses
Netflix believed that people wanted to binge-watch TV shows more than only watch them once a week.
These are all contrarian ideas that very few believed in originally, but before we knew it, they became a staple within our lives, and that's the message that Thiel is trying to push: if you’re contrarian, you automatically escape competition, which makes your journey a whole lot easier.
Lesson 2: Start by dominating a small market.
Thiel believes that the majority of companies fail because they try to penetrate and have 1% of a billion dollar market when all it takes is to have 80% of a million dollar market, and only once you’ve successfully done that do you start to penetrate other markets.
Dominating a small market also gives you proof of concept that your idea actually works and, therefore, would likely work in a bigger market.
“Whoever is first to dominate the most important segment of a market with viral potential will be the last mover in the whole market.”
Lesson 3: Strive to be a monopoly.
Not all monopolies are evil; the companies you know and love—Apple, Google, Facebook, and Amazon—are all monopolies in their respective industries, and they did so because they dominated the four monopoly methods:
Brand
Technology
Network
Scale
ACTIONABLE NEXT STEPS:
If you want to start a business and scale it to Peter Thiel standard, there are 3 main steps you need to take
Bet on a contrarian truth (Believe in something no one else yet does)
Start by dominating a small market (Get the proof of concept you need in order to scale 10x
Strive to be a monopoly (Be the biggest and the baddest or don’t even bother at all)
BOOK OF THE WEEK ⤵️
Zero to One is a book written by Peter Thiel, the x CEO of paypal and instigator of companies like Linkedin, Yelp & Youtube. In his book he shares the secrets of how to build the future. Read it HERE
CREATOR OF THE WEEK ⤵️
@jordanmakesvideos Replying to @user5838035510858 Day 321 🧊 #coldplunge #motivation #fypシ
TWEET OF THE DAY ⤵️
My biggest regret from my younger years:
Not taking enough pictures of the shitty times.
Take them. Be proud of them.
They’ll be part of the story you someday tell.
— Alex Hormozi (@AlexHormozi)
3:27 PM • Oct 29, 2023
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