Lessons from the PayPal Mafia.

Peter Thiel on startups, life and how to go from 0 →1

What do you get when you combine 13 men 30-year-old men in silicon valley? The biggest online payments company to IPO at 1billion Paypal now worth over 100billion and valued more than double it’s parent company. What do you get when these men leave Paypal? One of the most valuable networks in Silicon Valley and the world: the Paypal Mafia. Going on to lead some of the biggest companies today like Tesla, LinkedIn, Yelp and Youtube.

Companies contributed or founded by the Paypal mafia
Globalization (horizontal growth) vs Technology (vertical growth)

Key takeaways 🔑

  • New Technology gets us from 0 →1(vertical growth), globalization copying thing that work takes us from 0 →n (horizontal growth)
  • Leverage network effects and the power of technology ask “What is a great internet business that nobodies building?”
  • Monopolies > Competition, monopolies pretend not to be monopolies and competitive markets pretend to have monopolies
  • Have the courage to think differently than others. When answering “What important truth do very few people agree with you on?” use “Most people believe in x, but the truth is the opposite of x.”
  • Spend time doing hard things, not the impossible or easy because too many people are already doing these.

Playing around with blockchain and machine learning. 17. Trying to understand my self and the world.