Competition is for Losers

Posted by dbhalling 10 years, 5 months ago to Business
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Peter Thiel interview video.

One of Peter Thiel’s interview questions is tell me something you know to be true that no one else knows is true? How would you answer that question?

My answer is that the source of real per capita growth is inventions and patents, property rights in inventions, are the key to stimulating people to invent, resulting in the Industrial Revolution and our present standard of living.


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  • Posted by 10 years, 5 months ago in reply to this comment.
    Yes. It is not that competition should not be allowed, it is that me-too products do not really move us forward. Think of the Model-T. If we focused on competition we would still be driving Model-Ts
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  • Posted by UncommonSense 10 years, 5 months ago
    FYI. John D. Rockefeller Sr. said that competition was a sin.

    I totally concur with your bottom line. What's interesting is that according to what you said, in order for that to happen, the gubbermeant would have to get out of the way.
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  • Posted by tkstone 10 years, 5 months ago
    My answer is: "Truth is, big problems don't need big answers. They need many small ones."
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  • Posted by 10 years, 5 months ago
    "Thiel is often associated with extremist, Ayn Rand-style libertarianism—for instance, he’s building a government-free island—but he is also writing in the tradition of American idealism: There’s the belief in progress, the insistence on meaningful labor, and the valorization of the critically minded, pioneering individual" New Republic.
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