Zero to One

by Peter Thiel

· Think about the future as a definitive vision. This is a vision you want to focus on and attain.

· When thinking about the future, think about the progress which stands between now and the future.

· Finding ideas most people don’t know about, or agree with, is key to being successful.

· First aim to be a profitable monopoly at a specific and narrowly defined target market, then expand to other markets.

· The initial team members are critical. You must find the right mix of skills, vision, and personal connections with each other. This makes it easier to foster a strong company culture.

· Have balanced owner interests to avoid future misalignments that may cause the company to suffer.

· Two types of progress bridge the now and the future: horizontal progress (one to n) and vertical progress (zero to one).

· Vertical progress is hard because it does not exist yet. It requires you to see the present differently. It also requires you to find a truth most people don’t see or agree with.

· A startup has only one specific future vision leading to success. One must parse decisions relevant to specific conditions.

· Perfect competition is good for consumers, but it does not drive progress.

· Real progress, the zero to one type of vertical progress, usually results in monopolies. That means you’re producing something much better than everyone else is.

· Sales and distribution is vital because your products will never sell themselves. Optimize your sales effort per distribution point to include various sales strategies.

· Founders tend to be strange people. However, the vision they have is indispensable because the decisions are made to realize that original vision.