How Peter Thiel Knows If A Startup Is Crazy Smart, Or Just Crazy | Disrupt SF 2014
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- เผยแพร่เมื่อ 22 พ.ค. 2024
- Josh Constine talks to Peter Thiel backstage at Disrupt SF 2014.
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"To make money, you have to create something of value for the world, and capture some fraction of the value you create"
Thank you for writing it down
Some actors make money by creating value for the world and capturing some fraction of it. Others manage to capture some fraction of the world's value while creating none of it. I suppose we should encourage people to do the former rather than the latter, but for the sake of completeness... :-)
Some actors make money by creating value for the world and capturing some fraction of it. Others manage to capture some fraction of the world's value while creating none of it. I suppose we should encourage people to do the former rather than the latter, but for the sake of completeness...
"I'd like to start by saying something about the basic idea of when you start one of these companies, how do you go about creating value? What makes a business valuable? And I want to suggest there's basically a very simple formula, that if you have a valuable company two things are true. Number one, that it creates "X" dollars of value for the world. Number two, that you capture "Y" percent of "X.” And the critical thing that I think people always miss in this sort of analysis is that "X" and "Y" are completely independent variables, and so "X" can be very big and "Y" can be very small. "X" can be an intermediate size and if "Y” is reasonably big, you can still have a very big business."
poleag I completely agree with you! In fact, I would say that if the government is good for anything, it should ruthlessly eradicate all opportunities for con artists and hucksters to scam people so that all intelligent people will be forced to direct their efforts to productive enterprise.
Money doesn't belong to the person who suffered more or longer. It belongs to the one who provided more benefit to others.
A great musician might earn more with a single song than a normal worker earns in his life but if hundreds of millions are enjoying his work enough that they are willing to give him each a dollar or so, he deserves that money. The same is true with entrepreneurs. If they can come up with personal computers or smartphones or revolutionize shopping, they deserve that money.
It is the right thing to give something back but not because you somehow don't deserve what you have but simply because you should help people in need if you are in a position of strength.
The more people you affect, the more you earn.
veru underrated comment!
Clear, simple framework for understand wealth. Thank you.
yes
0:43 always focus on the substance, there are no shortcuts
01:33 the team, the technology and the business strategy
$PLTR ! lets go to 504
"be stubborn on the vision, flexible on the details."..
EPIC Peter Thiel IS EPIC:
"It's always hard to generalize..." :P
Wow. You've got skills. Seriously. I didn't catch that...even had to read it a couple times before it sunk in.
help me
edit: nevermind, i get it. computer science joke. clever
Vince um no
Scott Simmons what is it then
It's ALWAYS hard to generalize
Always is a generalization bro
Love Peters energy and focus.
Awesome questions from Josh Constine! Peter Thiel is a beast among beasts
benttoenail Thanks, I came here looking for his name, it was a great interview.
The reporter was not less amazing thank the speaker. Very good job done. It often seen in nowadays.
Great insight! This tells a lot of people what to move their thinking toward to gain success.
Good piece. Good questions. Thanks!
When you talk to people like Peter Thiel you yourself get inspired to create.
Thiel is so brilliant. One of the smartest billionaires
If you compare people who talk a lot
Love the guy!
He's a very good listener. Not a massive fan of Peter Thiel but have to admit in every interview he manages to say something I find insightful.
so why aren't you a fan?
@Brahma Bull i want to know it too. He comes across as a stand up guy.
Let me guess... your personal political biases.
Why dont you like him?
Very sensible interview. Think didn't worry about interviewer trying to get a controversial statement like in other popular news. Channels and was honest and open talk
A crisp and a good interview..just the way people like it.
Peter's mind always amazes me
Good interview. He wants to make difference for the better and discusses technology and philanthropy.
Blah blah blah.
That brings is to die for
"What great company is nobody starting?"
What a stud.
The best part was that this new age inventors are actually getting rich. While inventors in the past like tesla or wright brothers barely made any money.
When I read your book, I knew I can learn a lot from this man🔥
Amazing video✌🏻
Keep spreading knowledge 👍🏻
book name ?
Wow, really great questions!
Everything Peter Thiel says in this video is further-developed and well-documented in is outstanding book "Zero to One"
Gaining traction is one of if not the hardest part of a startup
I'm so freaked out, applying for the thiel foundation on my sixteenth bday and I'm super stressed because it's not technology centric- which isn't a disqualifier but almost none of those inventions pass
How did it pan out?
*G A M E*
@Scotty2Hotty 1 Hmm... you would have to open the can in a sterile vacuum to preserve the original state before re-sealing.
By making something everyone in the world wants, they are already making a difference.
Bingo. That is exactly how they create value.
How many times in a year this fellowship reward ceremony happens?
How peter looks like and how he talks are totally two different things.
is it just me or is thiel's hand-to-head ratio really fucked? he looks like he could grip his own face like a softball
The real life Peter Gregory
what was the festival he was talking about?
Masa son once said "“In a fight, who wins? The crazy guy every time".
Let's take a minute to remember that peter theil invested in a company that took blood transfusions from teenage boys because they said it would lead to longer life.
Let's also remember that theil has a network of connected lawyers that can sue people into bankrupcy. This happened when an outlet outed him as gay (which is true, but back even only a little over a decade ago there was more stigma). He didn't sue them himself. He had his guys back lawsuits filed by other guys until they went bankrupt. It wasn't found out that theil was behind it until after the fact.
Just interesting the kinds of things rich and connected people get up to.
Josh has got a Nardwaur vibe without the inside knowledge
nice red pendant, what is that a hammer and sickle
People are still doing the fly collar thing?
That guy doesn't seem very in touch with current fashion
Useless comment. Stylish people do whatever they want. Lemmings copy it. It gets old. That's how it always works.
Not people. Person. lol
not people...a person...this person in the video...
To be fair, it was 2014. People dressed funny back then.
"Be brave & fight for the end of financial systems (m*ney - dirty word / virtual coins - all dirty words)!
When it comes to innovations:
be greatfull to the one before you which helped you base yours idea and humble in your sharings with the rest of existence.
No award should fill any personal void.
Ask questions about Team, Tech & Business Strategy
Startup: great info how to choose startup from Peter Thiel. About founders in company etc.
Peter thiel is favorite of online tech Peo for some reason at least the way he is being promoted what happened to others?
This is just tech startups, where is the assist with all types of startups?
Interesting content but the audio levels are terrible on this video...
Masa Son should listen to this guy.
If you don't know how to hold a microphone, please have someone on your team to hold an overhead mic. Otherwise good interview
josh constine haven't figured out how to disrupt the holding of a mic while interviewing.
Of course ....
COMON SENSE
thiel and zuck talk in the same speech pattern
I have a very good cause: It's called This isn't the hunger games. It's about losing weight, cutting off your loser goldylocks, getting a fitting suit knowing how to wear a collar and not wearing flowers
the interviewer completely missed thiel's last point though! "be brave and donate" ... seriously dude?
Thiel is wrong about the Wright brothers. They sold their patent for a million dollars which was an enormous amount of money at that time. They were quite wealthy at the end of their lives.
I think Peter definition of rich is quite high. In the Gawker case interview, he classify Hogan as middle class which I think had a few millions in his name.
All I want is some app maker to get in touch with me.
Whats your email
4:38
Zero to One. Thiel is a genius.
@@zac491I think the video you are referring to is here: th-cam.com/video/2Q26XIKtwXQ/w-d-xo.html
Its funny we are watching a video about Thiel criticise Google to their chairman on a platform they own.
I think you ask a good question but competition does not necessarily inspire innovation. quite often competing companies at best just copy each other and at worse just engage in a race to the bottom.
Google is a monopoly and has conquered the market in terms of online search, video and display, they are miles ahead of their nearest competitors. Microsoft Bing or Outbrain/Taboola or Daily Motion or Vimeo.
Thiel's comment is that Google have stopped innovating to the point of being able to spend their vast cash reserves and profit to such an extent they dont know what to do with it. Apple has a similar problem with so much money the cant spend it or even repatriate it.
Thiel's comment about Amazon is based on other sources correct they spend all of the their profits and actually technically make loses in a lot of divisions because they are always spending their money growing and expanding their company.
On a side note it should be noted that the real competition to Google is Facebook as they both make money from advertising and they both own a large proportion of the display and video search advertising market. And Facebook are aggressively pushing into this market and innovating continually.
This is only our very humble lay opinion.
who's come here because of peter thiel's bunker on vice
Peter Gregory?
"To me, it feels like, maybe that money doesn't really belong to me?" Why is he talking as if he is a self-made billionaire? If you think that someone else doesn't deserve what he has because he dared to be more successful than you, at least say it.
An interviewer from TECHcrunch doesn't know his own microphone...? That's amazing. This interview could have been MUCH better, owing ONLY to audio tech difficulties.
the interviewer could have asked questions. he went off topic about investing and startups and investment criteria and went down the road of philanthropy. he should have went into equity valuations, revenue, how to monetize your processes and diversify your income, view software as a marketing tool and not a sole product, process for distribution channels, and how investment money is meant to add fuel to a fire and not be a fire starter in terms of Angel money and VCs (Private Equity is your turnaround group)... but I could imagine Josh seemed nervous kind of star struck so for what it is, not a bad interview just a lot of questions were left out and very sidetracked.
The interviewer is looking like tony montana wtf
Here we see the difference between a man who consumes too much dairy, and one who doesn't.
Think. A rabbit can get fat eating lettuce.
@@ishish8816 You misunderstood my comment.
hold the mike closer to your mouth next time.
This guy needs to work on his microphone game.
@3:10 This question really threw Peter off tilt, he had a bit of a stutter fest for a few seconds before getting back in his groove
I felt like there was sexual tension in this interview.
Why does this guy sound exactly like Mark Zuckerberg?
Very good interviewer.
This interviewer is annoying.
He wasn't listening to Peter, just twisting his meaning at the end.
This interviewer was obviously a socialist lol
Ironic that he talked about mining in the Congo, when he is trying to mine in New Zealand
Peter Thiel is a genius but it's weird seeing a billionaire whose communication skills are worse than mine, and mine suck.
Its not weird at all. Creating Tesla, FB or Amazon has nothing to do with having good communication skills
@@Skankhunt420. exactly 💯
He is a good speaker, very clear and concise, no waffle or filler. Also his is very amusing in a deadpan style.
he kind of sounds like Mark Zuckerberg
+Jondu Blooo Or does Mark Zuckerburg sound like him? He was here first after all
Both him and Mark have INTJ personality types.
Other INTJs you probably have heard about:
Isaac Newton
Bobby Fischer (chess)
Elon Musk
Bill Gates
Most people are either "idea people" or implementers." INTJs are rare in that they have both the freshness and originality to dream up new ideas and the persistence and tenacity to push them through. Not surprisingly this combination leads them to success in the valley.
+Tom Smith Meyer Brigs is garbage psuedo science. not backed in any credible psychology papers.. even by the heads of the COMPANY that runs it..
+Ali A "Credible psychology papers"? Isn't that an oxymoron?
Jondo Blum he mentored mark Zuckerberg
men of culture 5:03
You have to build something valuable and then you have to sell it.
they all talk so much crap, it`s all about risk and balls Tesla would be finished if Elon had not sunk in his last money all these other guys were running for the hills, look at Elon now he`s by far the most out there innovator I also think what makes him different is that he`s hands on in all aspects/areas of his ideas
It is so sad to them who are there , because you re very smart and know how to trick them plus , ( please let me say something that have to be totally wrong guessing and very bad negative of thinking about it :::( because the point of speaking in the opposite way , what I mean is like a look down everyone on earth , such as .. everyone on earth will not press the kindness or forgiveness button when u know that you will be the only one who can give to them not get from them at all .do u think if u tell the human about this , and do u think still have human on earth can press that button or no . .?
If u are outside no need to hide because it is safety .u have more arms and legs., u try to fool the world that it is horrible nasty , dirty but actually it is not like that , but u create the human mind become weak and lost , and become the monster , when they lost all the hope. will u thinking to take advantage from them , and accuse them , making fun with them , judge them , at the end , not even try to explain to them about the love they should get and the hate need to revenge .. u make them fear to accept themselves and lonely . What do u expect from the people who lost till have not even the heart left with their body, u still want them to be great and good people who can sacrifice their life , die for the one who betray them all the time. Show them that you can be the selfishness only .
This guy funded Ethereum
Could the interviewer be any sloppier?
He sounds a lot like Mark Zuckerberg.
Or maybe mark sounds like him.
Interviewer needs to learn microphone spacing. He puts mic too far from Peter but 1 inch from his mouth. Peter was faint , interviewer was blasting loud
Yes, and at least balance the audio in post.
Thiel: "I don't enjoy being contrarian. ... I think it's much more important to be right than to be contrarian."
And then listen to; 2:45 to 3:10
he has creepy down
Very rich and very poor at the same time. Any man could be comparatively very rich, and only in some aspects. But only the truly good man, who would consciouly admits to himself that he knows, that he is very rich, yet at the same time, very poor in other aspects. --- These men are the most worthy to be my long term teacher, friend, and comrade.
Please Mr. Peter Thiel, let me have a short moment of your precious time, I have the solution to your quest for the world. Thank you for your attention. altc
Paypal sucks
you say that about a technology made in the 1990s
Let Peter talk! Shhh mr interviewer
Why is there a homeless man interviewing Peter Thiel??
horrible microphone!
Menudo buitre. Good interview, nonetheless.
What is wrong with that guy's hair?????
this journalist is really rude and unprofessional, he needs some basic lessons like how to hold a mic when u interview others.
Peter thinks he is slick. His agenda is so much more clearer whilst he tries so hard to hide it.
Horrible person, in another time would have been hiltlers right hand man.
Weird socialist leading question cringey
"Be brave and donate"? That's the worst pseud-philanthropic say ever. A true philanthropist recognizes he would be nothing without the society around him and gives EVERYTHING back, not a few crumbs.
I think Peter was trying to say that in a nice way -- whether he actually does it or not.