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In 'Zero to One', Peter Thiel discusses the concept of monopoly in a positive light, contrary to its usual negative connotations. He argues that startups should aim to become monopolies because they can then control their market and set their own prices, leading to greater profits. This is in contrast to companies in a competitive market, which are price takers and have less control over their profits. Thiel suggests that monopolies drive innovation because they have the financial resources and stability to invest in research and development. He also debunks the idea that monopolies are bad for society, arguing that they can provide unique products and services that wouldn't exist in a competitive market.
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The first four rules came about as an over-blown reaction to the dot-com crash. It requires boldness, planning, market dominance, and sales tactics to change the world through a startup. Those who espoused the first set of rules were setting their sights on globalization as the future. By taking baby steps, the best they could hope for was opening new, related markets. Those who play by the second set of rules, however, have the best chance of becoming a monopoly. Next, we'll debunk why monopoly isn't a bad word and why competition shouldn't be revered in all forms.
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Learn from tech superstar Peter Thiel (PayPal, Palantir) and his protégé Blake Masters why the only opportunities really worth pursuing are those that...
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