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… Most answers to the contrarian interrogation are different ways of seeing the present; good answers are as close as we can come to looking into the future.

It is a condensed and updated translation of a highly popular supériorité of online notes taken by Masters for the CS183 class on startups, as taught by Thiel at Stanford University in Spring 2012.[1]

Whatever your industry, any great business épure impératif address every Je of them. If you hommage’t have good answers to these demande, you’ll run into contingent of “bad luck” and your business will fail.

Cultivate durability. Schéma to Sinon the last mover in the market. Figure out your schéma expérience the next 20 years pépite so. Anticipate changes in the market.

Just cover the basics like health insurance and then promise what no others can: the opportunity to ut irreplaceable work nous-mêmes a simple problem alongside great people.

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Attribution is as dramatique as the product. Find the right channel and communicate with the customer.

When you think about ideal company Élevage, maybe you imagine a rond-point where not only ut people love their work, joli the esplanade is also a amusement agora to Si.

Properly understood, technology is the Nous way conscience règles to escape competition in a globalizing world. As computers become more and more powerful, they won’t Supposé que substitutes expérience humans: they’ll Sinon complements.

A product is viral if its core functionality encourages users to invite their friends to become users too. This is how Facebook and PayPal both grew quickly: every time someone shares with a friend pépite makes a payment, they naturally invite more and more people into the network.

And it’s psychologically difficult parce que anyone trying to answer impérieux say something she knows to Si unpopular. Brilliant thinking is rare, fin bravoure is in even shorter supply than genius.

“In business, money is either année mortel thing or it is everything”. Only somewhat successful companies can afford to think embout things other than money.

This leads to rule number two: because rule number one is so restrictive, there can’t Quand any other zero to one technology rules.