This book is like a pair of Prescription Spectacles that put the Innovation Startup Business world, into Sharp Focus.
When I first saw the price I almost hit exit. However, I thought “If this guy has the balls to ask this price, this book had better be good”. Else I'm going to roast him in my Amazon review. I ain't roasting!!
As usual I attacked reading this book in concept extraction mode for my normal initial scan read. Chapter 6, You are not a Lottery Ticket, hit me with a Baseball bat right between the eyes. and slowed my reading pace down to almost snails'. Despite this slow first read, this Chapter deserved a re-read, at almost letter by letter speed. Almost every word or phrase brings an idea from the past, often vague, to the fore and into sharp focus. When I finished my first highlighting trip, almost every word in this chapter was lit. I had to choose and eliminate some of them.
In Zero to One, Thiel explores the world of New Business Creation. I would have loved using the word entrepreneurship but excessive and inappropriate use by “experts” have stripped this word of it's true meaning. We even invented a new version in South Africa under the ANC – Tenderpreneur.
True entrepreneurship from basics is the creation of a New business that facilitates Economic Development by providing an Inventive New Product creating a New Market Sector that facilitates New Consumer Productivity enhancing opportunities.
In Thiel's thesis, basic human attitudes can be split into a 2x2 matrix. I also tend to think in 2x2 matrixi. So this chapter fitted my mind. But Wow did he blow my mind with his various Definite vs Indefinite and Optimistic vs Pessimistic discussions. Despite many years in multinational business I could not fault the Author on any of his explanations. He clarified a lot for me. One of them “strategically humble” is certainly a new, yet valid descriptor for a company with a profitable monopoly. Yet in their Financial market press releases, they deliberately select a market description that yields for them a minority market share in a large market and not their true market share in the niche they dominate totally. (Are they hiding from Monopoly acuzations?)
A few key quotes.
”In the 1950's, Americans thought big plans for the future were too important to be left to experts”. (San Francisco Dam)
Ralph Waldo Emmerson is quoted as saying “Shallow men believe in luck, believe in circumstances …...... Strong men believe in cause and effect.”
“you should do what you could, not focus on what you couldn't” Is to my mind the Quote of the Year.
Another hand clapper was “No one pretended that misfortune didn't exist, but prior generations believed in making their own luck by working hard”
I consider the following a nice funny; When Peter had to use either the words he or she in his text he seemed to consistently use she. I suppose this enables him to duck accusations of Sexism. Showing signs of being scared of Indefinite Pessimists?
“We have to find our way back to a definite future, and the Western World needs nothing short of a cultural revolution to do it.”
“ A startup is the largest endeavor over which you can have definite mastery. You can have agency not just over your own life,
but over a small and important part of the world. It begins by rejecting the unjust tyranny of Chance”
The rest of the book is devoted to discussing the practicalities of founding Innovative Startups successfully. These are focused at exploiting what is commonly considered a secret simply because nobody has really explored it before. Their uniqueness create innovative monopoly opportunities - the key source of profit.
One of the issues discussed is; Power Law; We all know the Pareto principle is valid and 80-20 describes the unequal distribution of results in everything. Peter adds these considerations;
“It defines our surroundings so completely that we usually don't see it”.
He continues with; “but everyone needs to know exactly one thing that even venture capitalists struggle to understand: we don't live in a normal world; we live under power law.”
In this way many other facets of Startup founding are discussed practically.
In the end I came away with the following thought pattern;
A potential successful startup founder is someone who is a Definite Optimist with a long term perspective, prepared to take risks. Who has a mind open enough to identify factual or human secrets that need illumination. Who is prepared to do the hard work necessary to acquire the factual knowledge needed to explore this secret and find a way to change this mystery into a solution. Who is capable of funding this idea or selling it to Venture Funders to acquire funding. Who is prepared to expend the effort to develop the idea into a useful practical end product that solves something significant for a new market sector. AND; Who then has the flexibility to turn around from dreaming, research and creativity. To then display the tenacity to knuckle down to make this idea work in practice, prepared to live through the low personal income initial loss making era, building the practical business.
Thanks – A stimulating read, well worth the time and money – even for retired me!
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Reviews with images
Doblado
El libro está bien solo me hubiese gustado que viniera en plástico envuelto así no se hubieran doblado las páginas 💔
