Zero to One
Zero to one – Peter Theil The challenge of the Future The future does not use momentum. It is something we create through innovation. Peter divides progress in two types 1. Horizontal Progress (1 → n) : Moving from 1 to many Copying things that already work e.g. Opening more restaurants, replicating existing businesses Also called globalization. China is a pragmatic example of globalization. 2. Vertical Progress (0 → 1) : Moving from nothing to something new Creating something completely new e.g. invention of computers, smartphones. Peter calls this as Technology (innovation). So as we grow, should we play it safe or take calculated risks? Peter has interesting example of 1999 – 2002. Party Like its 1999 Peter warns us through this phrase “Party like it’s 1999”. In 1999 people invested all they had overconfidently with the anticipation that internet is the last big thing to happen and ended with a ‘Dotcom burst’ in 2002/03. Lessons people learnt but misunderstood. Avoi...