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브라이언 리뷰

 
제목: ZERO TO ONE
저자: Peter Thiel
브라이언 요약: (실리콘밸리 역사책?)

  1. 작은 시장이라도 독점하세요.
  2. 좋은 팀을 만드세요.
  3. 영업/광고/마케팅이 중요하다.

 
Zero to One:Notes on Startups or How to Build the Future, Crown Business이노플리아 제로투원 ZERO TO ONE 스탠퍼드대학교스타트업최고명강의 양장 리커버에디션, One color | One Size, 9788947547567
 

브라이언 노트:

Preface: Zero to One

  • 1 to n vs 0 to 1
  • Technology
  • Zero to One is about how to build companies that create new things.

 
 
1. The Challenge of the Future

  • 0 to 1: Vertical or intensive progress (Doing new things)
  • 1 to 0: Horizontal or extensive progress (Copying things that work)

 
2. Party Like It's 1999

  • Silicon valley entrepreneurs learned 4 big lessons
    • Make incremental advances (Small incremental steps)
    • Stay lean and flexible
    • Improve on he competition (Don't create a new market prematurely)
    • Focus on product, not sale
  • Opposite principles are more correct.
    • It is better to risk boldness than triviality.
    • A bad plan is better than no plan.
    • Competitive markets destroy profits
    • Sales matters just as much as product.

 
3. All Happy Companies Are Different

  • Creating value is not enough - you also need to capture some of the value you create.
  • In 2012, average airfare each way was $178 with airlines made only 37 cents per passenger trip
  • Google brought $50 billion in 2021 (vs $160 billion for the airlines), but Google kept 21%of those revenues as profits
  • Perfect competition & monopoly
  • Monopoly: we mean the kind of company that is good at what it does that no other firm can offer a close substitute. Google is a good example of a company that went from 0 to 1.
  • Don't build an undifferentiated commodity business.
  • Google: monopoly on what?
  • Monopolies drive progress: because monopoly profits provides a powerful incentive to innovate.

 
4. The Ideology of Competition

  • Our educational system both drives and reflects our obsession with competition.
  • If you can't beat a rival, it may be better to merge.

 
5. Last Mover Advantage

  • In 2013, Twitter valued at $24 billion : more than 12 times the Time's market capitalization. (Times earned$133 million in 2012 while Twitter lost money.)
  • The answer is cash flow. (projected future cash flow)
  • Will this business still be around a decade from now?
  • characteristics of monopoly
    • Proprietary technology: Google's search algorithms. Amazon's more book selections.
    • Network Effects: network effects businesses must start with especially small markets.
    • Economies of Scale: copy of the product is close to zero. Service businesses especially are difficult to make monopolies.
    • Branding:
  • Building a monopoly
    • Start small and monopolize: start with a very small market. It is easier to dominate a small market than a large one. Red flag: getting 1% of a $100 billion market.
    • Scaling Up: dominate a niche market then expand into related and slightly broader markets.
    • Don't Disrupt: avoid competition as much as possible.

 
6. You Are Not a Lottery Ticket

  • Outliers by Malcolm Gladwell: success by luck?
  • Optimist welcome the future. pessimists fear it.
  • Optimistic/Pessimistic/Definite/Indefinite
  • Iteration without a bold plan won't take you from 0 to 1.
  • Change and Design example: Steve Jobs from Apple in 1976, iPod

 
7. Follow the Money

  • Vilfredo Pareto: Pareto principle: 80-20 rule.
  • The power law.
  • First. only invest in companies that have the potential to return the value of the entire fund. Second. rule number one is so restrictive, there can't be any other rules.
  • The power law means that differences between companies will dwarf the differences in roles inside companies.
  • One market will probably be better than all others.

 
8. Secrets

  • A conventional truth: it is not a secret.
  • Conventions (Easy) - Secrets (Hard) - Mysteries (Impossible)
  • What important truth do very few people agree with you on?
  • What valuable company is nobody building?
  • How to find secrets?
    • Secrets of nature and secrets about people
    • Secrets about people are different. things they don't know about themselves or things they hide.
    • What are people running companies not allow to say? Ask
    • What to do with secrets?

 
9. Founders
10. The Mechanics of Mafia

Image from Wikipedia. Back row from left: Jawed Karim, co-founder Youtube; Jeremy Stoppelman CEO Yelp; Andrew McCormack, managing partner Laiola Restaurant; Premal Shah, Pres of Kiva; 2nd row from left: Luke Nosek, managing partner The Founders Fund; Kenny Howery, managing partner The Founders Fund; David Sacks, CEO Geni and Room 9 Entertainment; Peter Thiel, CEO Clarium Capital and Founders Fund; Keith Rabois, VP BIz Dev at Slide and original Youtube Investor; Reid Hoffman, Founder Linkedin; Max Levchin, CEO Slide; Roelof Botha, partner Sequoia Capital; Russel Simmons, CTO and co-founder of Yelp

  • Employees should love their work. They should enjoy going to the office so much that formal business hours become obsolete and nobody watches the clock.
  • Hire people who would actually enjoy working together.
  • Recruiting should never be outsourced.
  • Talented people don't need to work for you. They have options. Why would some one join your company?
  • Bad answers
  • Good answers: 1. Mission 2. Team
  • Every person in the company responsible for doing just one thing.

 
11. If You Build It, Will They Come?

  • 3 kinds. 1. thinkers, leaders, and achievers 2. salespeople, consultants 3. workers and artisans.
  • Customers will not come just because you build it.
  • In Silicon Valley, nerds are skeptical of advertising, marketing, and sales. but advertising matters because it works.
  • The best product doesn't always win.
  • Strong distribution plan. CLV. CAC. (distribution is the hidden bottleneck.)

 
12. Man and Machine

  • Computers are tools, not rivals.
  • Technology is the one way for us to escape competition in a globalizing would.
  • Machine learning, big data. Actionable insights can only come from a human analyst.

 
13. Seeing Green

  • 7 questions that every business must answer:
    • The engineering question
    • The timing question
    • The monopoly question
    • The people question
    • The distribution question
    • The durability question
    • The secret question
  • Doing something different is what's truly good for society. and its also what allows a business to profit by monopolizing a new market.

14. The Founder's Paradox
Conclusion: Stagnation or singularity?
 

 

Zero To One by Peter Thiel

 

 

Zero to One:Notes on Startups or How to Build the Future, Crown Business이노플리아 제로투원 ZERO TO ONE 스탠퍼드대학교스타트업최고명강의 양장 리커버에디션, One color | One Size, 9788947547567

 

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