Peter Thiel the Founder of PayPal

The entrepreneur of the day is Peter Thiel. He is the founder of PayPal and was the first outside investor in Facebook. His current net worth is $3.8 BILLION dollars.

Below are top Peter Thiel quotes.

1. When you are starting a new business you don’t want to go after giant markets. You want to go after small markets and take over those markets quickly.

2. Today’s “best practices” lead to dead ends; the best paths are new and untried.

3. Superior sales and distribution by itself can create a monopoly, even with no product differentiation.

4. Brilliant thinking is rare, but courage is in even shorter supply than genius.

5. The most contrarian thing of all is not to oppose the crowd but to think for yourself.

6. You’ve invented something new but you haven’t invented an effective way to sell it, you have a bad business – no matter how good the product.

7. All happy companies are different: each one earns a monopoly by solving a unique problem. All failed companies are the same: they failed to escape competition.

8. A bad plan is better than no plan.

9. Most businesses get zero distribution channels to work: poor sales rather than bad product is the most common cause of failure. If you can get just one distribution channel to work, you have a great business. If you try for several but don’t nail one, you’re finished.

10. It is better to risk boldness than triviality.

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