MI383: Zero to One: Lessons From Peter Thiel w/ Shawn O’Malley

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Education, Investing, Business

4.6 • 592 Ratings

🗓️ 23 December 2024

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’s episode, Shawn O’Malley (@Shawn_OMalley_) goes through the best-selling book Zero to One by the prolific investor Peter Thiel, who’s best known for co-founding PayPal and Palantir and for being the first outside investor in Facebook. Thiel is a highly contrarian thinker, and the book organizes his notes from his time at Stanford lecturing to the next generation of Silicon Valley’s entrepreneurs. You’ll learn Peter Thiel’s favorite question to ask in interviews, the difference between horizontal and vertical progress, how the Tech Bubble changed Silicon Valley, why Peter Thiel actually likes monopolies, what investors get wrong about competition, how the Pareto Principle applies to the venture capital industry, plus so much more! Prefer to watch? Click here to watch this episode on YouTube. IN THIS EPISODE, YOU’LL LEARN 00:00 - Intro 06:06 - What Peter Thiel’s favorite interview question is 09:42 - What the difference is between horizontal and vertical progress 11:41 - Why Thiel thinks that technological progress has stagnated since the 1970s 17:43 - How Thiel took advantage of the Dot-Com Bubble to scale PayPal 19:57 - How the Dot-Com Bubble changed the culture of Silicon Valley and the goals of its founders 23:22 - Why Peter Thiel encourages funders to build a monopoly in specific niches 26:34 - How competition destroys profits 34:50 - Which types of monopolies are good for society 41:10 - What the Pareto Principle means for the venture capital industry And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Peter Thiel's book, Zero to One. Check out the Podcast review of Peter Thiel’s Zero to One on We Study Billionaires | YouTube Video. Check out the Executive summary of Zero to One by Preston Pysh and Stig Brodersen. Clayton Christensen's book, The Innovator’s Dilemma. Nassim Taleb's book, The Black Swan. Check out the books mentioned in the podcast here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle's favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Shawn: Twitter | LinkedIn | Email HELP US OUT! Help us reach new listeners by leaving us a rating and review on Spotify! It takes less than 30 seconds and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

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0:00.0	You're listening to TIP.
0:02.7	On today's episode, I'll be going over the ideas and career of Peter Thiel.
0:07.3	Teal is one of those prolific investors who are so commonly referenced that you may feel
0:11.2	as though you're committing a faux pa by not being properly schooled on his views.
0:15.4	Over the course of this episode, I'll change that for you and teach you some of the biggest
0:18.9	takeaways from Teal's approach to investing and understanding the world. Teal is best known for being the first outside investor into Facebook,
0:26.4	as well as co-founding PayPal and Palantir Technologies, which has a market capitalization of
0:31.3	nearly $100 billion. Across his career, he's done everything from practicing law to speechwriting,
0:37.1	working at hedge
0:37.5	funds, launching venture capital funds, and even serving as the CEO of PayPal before
0:42.1	it was sold to eBay in 2002.
0:44.9	He's also the author of Zero to One, Notes on Startups and How to Build the Future.
0:49.8	An insightful book that will be the focus of much of today's episode.
0:53.6	In the book, he goes through what it looks like to build a billion dollar business from scratch, which is something he's been involved in with a few times now. Although I don't frequently invest in startups, I think the lessons from the book are quite valuable to long-term investors. And while Teal is by no means a value investor like Manish Pabri or John Huber, both of which I covered
1:11.1	in recent weeks, I find Teal's experiences to be valuable in a different way.
1:15.5	Like him or not, Teal has been unbelievably successful and his ideas are foundational to how
1:20.0	many technologists and investors ponder the world around them.
1:23.1	In a fast-changing world, we cannot simply ignore the effects of technology and few others have been
1:28.1	so at the forefront of the most valuable tech companies of the 21st century beyond Peter Thiel,
1:33.1	which, in my view, makes him an ideal candidate to study more intentionally.
1:37.7	With that said, let's dive into the biggest lessons from Peter Thiel in zero to one.
1:45.6	Celebrating 10 years, you are listening to Millennial Investing by the Investors Podcast Network.
	...

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