ZEROTO ONE
Lecture by Martin Mucha
NYC, April 18th 2015

PETERTHIEL
• PAYPAL
• PALANTIR
• CLARIUM CAPITAL
• FACEBOOK
• ANGEL INVESTOR
• VENTURE CAPITALIST
• MITHRIL
• Y COMBINATOR

CHAPTER 1 -THE CHALLENGE OFTHE FUTURE
horizontal or extensive progress
copying things that work
vertical or intensive progress
doing 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 LOTTERYTICKET
CAN YOU CONTROL YOUR FUTURE?
• Indefine Pessimism
• Define Pessimism
• Define Optimism
• Idenfine Optimism
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CHAPTER 7 - FOLLOWTHE 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 founding
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CHAPTER 10 -THE MECHANICS OF MAFIA
• Beyond Professionalism
• Recruiting Conspirators
• What’s under SiliconValley hoodies
• Do one thing
• Of cults and consultants
0 to 1
cult (dogmatism)consultants (nihilism)
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CHAPTER 11 - IFYOU BUILD IT,WILLTHEY 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?
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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
QESTIONS
7
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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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PeterThiel
“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
СПАСИБО