ZERO TO ONELecture by Martin Mucha

NYC, April 18th 2015

PETER THIEL• PAYPAL

• PALANTIR

• CLARIUM CAPITAL

• FACEBOOK

• ANGEL INVESTOR

• VENTURE CAPITALIST

• MITHRIL

• Y COMBINATOR

CHAPTER 1 - THE CHALLENGE OF THE FUTURE

horizontal or extensive progresscopying things that work

vertical or intensive progressdoing new things

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CHAPTER 2 - PARTY LIKE IT’S 1999

• DON’T:

• Make Incremental Advances

• Stay lean and flexible

• Improve on the competition

• Focus on product, not sales

• DO:

• It’s better to risk boldness than triviality.

• A bad plan is better than no plan.

• Competitive markets destroy profits.

• Sales maters just as much as product.

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PRINCE

“Cause they say 2,000 zero zero party over, oops! Out of time! So tonight I am gonna party like it’s 1999.”

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CHAPTER 3 - ALL HAPPY COMPANIES ARE DIFFERENT

Firm A

Firm A

Firm B

Firm B

MonopolyPerfect Competition

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CHAPTER 4 - THE IDEOLOGY OF COMPETITION

There is no middle ground:

Either don’t throw any punches, or strike hard and end it quickly.

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CHAPTER 5 - LAST MOVER ADVANTAGE

• CHARACTERISTICS OF MONOPOLY

• Proprietary technology

• Network Effect

• Economies of Scale

• Branding

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• BUILDING A MONOPOLY

• Start Small and Monopolize

• Scaling Up

• Don’t disrupt

• THE LAST WILL BE FIRST

CHAPTER 6 - YOU ARE NOT A LOTTERY TICKET

CAN YOU CONTROL YOUR FUTURE?

• Indefine Pessimism

• Define Pessimism

• Define Optimism

• Idenfine Optimism 9

CHAPTER 7 - FOLLOW THE MONEY

• The Power Law of Venture Capital

• Why people don’t see the Power Law

• What to do with the Power Law

Compound interest is the eight wonder of the world. He who understands it, earns it… He who doesn’t… pays it.

ALBERT EINSTEIN

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CHAPTER 8 - SECRETS

• Why aren’t people looking for secrets?

• The world according to convention

• The case for secrets

• How to find secrets

• What to do with secrets

mysteriesconventions secrets

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CHAPTER 9 - FOUNDATIONS

• Founding Matrimony

• Ownership, Possession, and Control

• On the bus or off the bus

• Cash is not king

• Vested Interest

• Extending the founding12

CHAPTER 10 - THE MECHANICS OF MAFIA

• Beyond Professionalism

• Recruiting Conspirators

• What’s under Silicon Valley hoodies

• Do one thing

• Of cults and consultants

0 to 1cult (dogmatism)consultants (nihilism)

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CHAPTER 11 - IF YOU BUILD IT, WILL THEY COME?

• Nerds vs. salesman

• Sales is hidden

Dead Zone$1 $100 $10,000 $10 M

Viral Marketing Marketing Sales Complex Sales

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• How to sell a product

• Everybody sells

CHAPTER 12 - MAN AND MACHINE

• Substitution vs. Complementarity

• Technology means Complementarity

• Complementarity Business

• The Ideology of Computer Science

• Ever smarter computer friends of foe?15

CHAPTER 13 - SEEING GREEN

• The engineering question

• The timing question

• The monopoly question

• The people question

• The distribution question

• The durability question

• The secret question

QESTIONS716

CHAPTER 14 - FOUNDER’S PARADOX

• The difference engine

• Where kings come from

• American Royalty

• The return of the king

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CONCLUSION

• STAGNATION OR SINGULARITY

• Recurrent collapse

• Plateau

• Extinction

• Takeoff

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Peter Thiel

“The essential first step is to think for yourself. Only by seeing our world anew, as fresh and strange as it was to the ancients who saw it first, can we both re-create

it and preserve it for the future .”

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THANK YOU

MERCI DANKE

धन्यवाद

谢谢

GRACIAS

감사합니다

DĚKUJI

ありがとうGRAZIE תודה

شكرا

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