Peter Thiel Interview: You Have A Billionaire Mindset!

He's an American entrepreneur, venture capitalist, hedge fund manager, and social critic.

He co-founded PayPal with Max Levchin and Elon Musk and served as its CEO.

He was ranked #4 on the Forbes Midas List of 2014 at $2.2 billion.

He's Peter Thiel and here are his Top 10 Rules for Success.

In this inspiring video, we dive into the world of Peter Thiel, an American entrepreneur, venture capitalist, and hedge fund manager known for co-founding PayPal alongside Max Levchin and Elon Musk. Peter Thiel's journey to success is filled with valuable lessons and groundbreaking ideas that have placed him fourth on the Forbes Midas List of 2014, with a net worth of $2.2 billion. Join us as we explore Peter Thiel's top ten rules for success, which are not just principles but a roadmap to achieving greatness in the entrepreneurial world.

Peter Thiel emphasizes the importance of recognizing oneself as the entrepreneur of one's life, understanding the power and freedom we all have to make decisions about our paths. He believes in focusing on doing one thing uniquely well, better than anyone else in the world, to achieve technological and business success. Thiel's insights into the necessity of alignment within companies, both formally and informally, and the significance of building a monopoly rather than competing in an overcrowded market, provide invaluable guidance for anyone looking to make a mark in the business world.

The video also highlights Thiel's perspective on the entrepreneurial mindset, stressing that starting a company should stem from the desire to solve important problems rather than just wanting to be an entrepreneur. He advocates for a life led by substance over status, urging aspiring entrepreneurs to focus on their passions and the impact they can make. This video is a must-watch for anyone interested in entrepreneurship, technology, and innovation, providing a deep dive into the mind of one of the most successful and thought-provoking entrepreneurs of our time. Don't forget to leave your thoughts in the comments below and let us know which of Peter Thiel's top ten rules resonated with you the most. Continue to believe, and we'll see you soon.

1. You are the entrepreneur of your life
He studied 20th-century philosophy as an undergraduate at Stanford University.

2. Do one thing uniquely well
An avowed libertarian, he founded The Stanford Review in 1987.

3. Make sure people align properly
He formed friendships with other students at Stanford, many of whom contributed to the Stanford Review. Some of these friends later took up jobs at PayPal and became part of the PayPal Mafia.

4. Aim for monopoly
In 1998 Thiel co-founded PayPal. It went public on February 15, 2002, and was sold to eBay for $1.5 billion later that year.

5. Don't be a fake entrepreneur
He was the first outside investor in Facebook, with a 10.2% stake acquired in 2004 for $500,000.

6. Value substance over status
In addition to Facebook, Thiel has made early-stage investments in numerous startups, including Booktrack, Linkedln, Friendster, Yammer, Yelp, Palantir Technologies, Big think.

7. Don't lose sight of what's valuable
In February 2013, Thiel received a TechCrunch Crunchie Award for Venture Capitalist of the year.

8. Trends are overrated
He was a US-rated Chess Master and one of the highest ranked under-21 players in the country.

9. Don't dwell on the past
He's a managing partner in Founders Fund, a venture capital fund with $2 billion in assets under management.

10. Find the secret path
In 2010 he created the Thiel Fellowship, which will award $100,000 to 20 people under 20 years old, to spur them to drop out of college and create their own ventures.

Source:

Changwon Chung:
Peter Thiel!!!

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EVAN

[SuburbanBehemoth]

"Zero to One" Was an amazing book.

[MichaelHwan]

Number 1and 10 resonate with me the most. The US education system focuses too much on competition and not enough on innovation. Everyone needs to find their own path and not follow the crowd.

[matthewdrake]

This video is great here are some notes I thought were important

0:20 - You are the entrepreneur of your life. You can decide what you will and won’t prioritize.
0:40 - Do one thing uniquely well - the top technology companies are doing something significantly better than all their competition
1:06 - What do you know that no one else knows or understands? What great business exists that no one is building
1:30 - Make sure people are aligned. What are people’s incentives? Formal alignment - incentives and informal alignment where people would want to work together
2:58 - Aim for monopoly - so far differentiated from the competition it is not competing
4:27 - You start a company to solve the problem that governmental for-profit or a nonprofit entity can not solve.
5:12 - Value substance over status - I would ask a lot more questions as to why I am doing these things? -- too much-being drive-by prestige and status
6:31 - People’s identities get so wrapped up in the things they compete for
6:54 - Competition is a double-edged sword - when you compete for status you will get very good at what you are competing over - but you will always narrow your focus to beating the people around you. This comes at the high price of losing sight at the larger picture.
7:15 - a general theme I would suggest is all trends are overrated be weary of things like SaaS Enterprise software and Cloud computing - these are buzzwords that offer a tell - the tell being they are one company in a large category they are not differentiated.
8:29 - if you can describe what a company is doing by referencing buzz word s it is a sign this is a pretty bad idea
10:45 - we think of advertising as something afflicts others but not ourselves
10:58 - there is a tiny door off the beaten path with a tiny door that everyone is trying to rush through and around the corner, there might be a secret gate no one is taking and you should always find the secret path and take it

[ashikalanser]

substance over status. that hit me hard. thanks for the wake up call.

[patrickpelletier]

I just finished reading his book Zero to One. What a smart guy!

[Fiveminded]

You can see why he's called The Don of The Paypal Mafia. Great video!

[Atune_TV]

dude this guy is so smart you can tell he has to slow his brain down to be able to speak

[dejabu]

I'm reading his book and its pure gold, very interesting and unique perspective of how to be an entrepreneur

[virginiabarnett]

The top 10 that resonates the most for me is #10. It is the courage that it takes to follow that path and be actively seeking it that separate those who have the stomach to be an entrepreneur. So many times, we are called crazy, among other things, for not following and I only hope I get to be as good at it as Peter Theil.
My wish list would be for a few more women that may not be pop culture, but are doing amazing things. For example: Melissa Jawaharlal, Ria Persad, Arielle Jackson, Molly Graham, Tamara Stevens.

[liona]

Thank you for sharing, Evan! Rule N. 9 - Don't dwell on the past . It is true. Dwelling on the past is a waste of time and energy.

[patrickmccormack]

I get a visceral reaction to 50% of what he says. The other 50%, inspired. More important to me, 100% is quality.

[martinakong]

"5. Don't be a fake entrepreneur" ~ you know who those folks are at business networking...

[kbkesq]

#5 is so true. And not everyone’s cut out to be an entrepreneur but we can still follow these guidelines to invest in companies.

[SuperHeroINTJ]

"Zero to One" IS an amazing book.

[mohamadismail]

Please make a video about Sir Ronald Cohen, perhaps more low-key than Thiel, but a man who epitomizes entrepreneurship and has been behind some of the greatest business and social developments.

[tlh]

He's such a treasure. Love how he thinks.

[tubeyou]

These are amazing rules, each of which is worthy of pondering and practising everyday. Thanks for compiling.

[sam.e]

2. *Do one thing uniquely well*. Diversification is a wonderful way to gain attention in your chosen industry and to add alternative revenue streams, offering robust options and solutions in a form of a product or service. However, if you are not known to be outstanding in at least one aspect of your business, you'll never have that instantaneous go-to reaction you'd want your new or repeating customers to have. You want to be installed in the masses psyche, that knee-jerk reaction that they will want to choose you over a competing business that doesn't execute tasks quite like you can. Consistency, originality, determination, relatability and a deep understanding of your client base will help you get there. #BTA58

[lnhart]

He did not cofound PayPal with Max Levchin an Elon Musk. He founded PayPal with a bunch of other guys including Max levchin, and later merged with Elon Musks company. You're not wrong, just kinda... not completely right.

Just wanted to say that, hope I don't seem like the biggest jerk. :)

[javiertrevino]

one that I liked a lot is the one about not dwelling on the past... it's really true that learning from failure is somewhat overrated as sometimes you choose to pursue something and too many factors were not the right ones as he said: maybe the people involved, the timing, the political situation, or any other internal or external factors can lead you to fail in your business or any other goal for that matter. I loved the part where he said that the best thing to do is to try something else, with different features, different variables, instead of trying to figure out the one thing that went wrong and failing again, it's a better option to try something different altogether