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Showing posts with label Peter Thiel. Show all posts
Showing posts with label Peter Thiel. Show all posts

Tuesday, May 23, 2023

Building Alone Doesn't Lead to Success

 "If you build a better mousetrap, the world will beat a path to your door."


Photo from https://www.pexels.com/photo/brown-wooden-mouse-trap-with-cheese-bait-on-top-633881/

That  adage is false.
In fact, you could even say that it's a trap.

If you believe it, you'll end up with a warehouse full of mouse traps but no revenue. To leverage your improvement into a source of income, you have to reach prove to them that your solution works better for people who are dealing with a mouse problem.

That's why you need good content that demonstrates an understanding of pain points and demonstrates how your product solves them. You also need to make sure to reach the people whose problems you will solve. There's not much point in marketing your offering to someone who has no need for it.

That's why you need to a marketing plan from day one. I wrote this on iInkedIn post earlier today, and this evening I came across Peter Thiel's expression of the same idea in Chapter 11 (p. 127) of Zero to One:

    In Silicon Valley, nerds are skeptical of advertising, marketing, and sale because they seem superficial and irrational. But advertising matters because it works. ... You may think that you're an exception; that your preferences are authentic, and advertising only works on other people. .... But advertising doesn't exist to make you buy a product right away; it exists to embed subtle impressions that will drive sales later. Anyone who can't acknowledge its likely effect on himself is double  deceived."


Thiel ads this observation on p. 130: "If you've invented something new but you haven't invented an effective way to sell it, you have a a bad business -- no matter how good the product."  

In case you read the title as a reference to being alone, I have another blog on working alone  that goes in a different direction. 




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Friday, July 5, 2013

Don't leave earth without it

Whether it will be in just a matter of years or of decades, the possibility of regular people taking trips into space the same way they travel to the far reaches of the globe could become a reality within our lifetime. The question is: when you set off for such a trip, what do you pack along for money?
While previous generations may have packed travelers’ cheques, such paper relics just don’t seem to fit in with the space age. The only feasible solution to the problem of payments in, to, and from space, is a digital one. PayPal believes it will handle that problem with its introduction of PayPal Galactic.  But that answer raises a number of other questions. Read more here

Related post: http://writewaypro.blogspot.com/2013/05/star-trek-and-final-frontier-of-currency.html

Monday, May 27, 2013

Living the libertarian dream on the sea?

The #libertarian  connection of seasteaders and #bitcoin
Bitcoin represents more than a digital currency. For many adopters, it is a means of breaking free of government and financial institutions’ control over money.

The Seasteading Institute’s philosophy dovetails with the views Thiel espoused in an April 2009 essay for the Cato Institute, “The Education of a Liberatarian.” In that piece, he declares that libertarians must get beyond restrictive government systems by finding a place of their own:
“The critical question then becomes one of means, of how to escape not via politics but beyond it. Because there are no truly free places left in our world, I suspect that the mode for escape must involve some sort of new and hitherto untried process that leads us to some undiscovered country; and for this reason I have focused my efforts on new technologies that may create a new space for freedom.”
 Read more in Why do 'Seasteaders' Love Bitcoin?