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Startup Archive
Peter Thiel explains his principle of only working on problems that wouldn’t get solved without you
Thiel shares that he’s “a little bit skeptical” of social entrepreneurship:
“Social entrepreneurship is always ambiguous because it’s unclear what the word ‘social’ means. Social can mean that it’s ‘good for society’ or it can mean that it’s ‘good as seen by society’. In the second meaning, you often end up with something that many people are doing.”
He gives education startups as an example of a social startup - it’s seen as objectively good and lots of people are working on it.
Thiel contrasts this to a mission-oriented company:
“A mission-oriented company is one where if you didn’t work on this problem, nobody would.”
He gives the example of Elon Musk starting SpaceX with the mission of going to Mars and making humans interplanetary. If Elon wasn’t working on it, this problem might not get solved.
Thiel believes this is an important principle in general:
“We always want to do things where… if you weren’t working on it, it wouldn’t get solved. Always go for that sort of counterfactual meaning. You don’t want to ever be in a place where you’re just one of a hundred cogs in the machine… You want to be in a place where you’re doing something that can’t be easily replicated or replaced - either on an individual level or the level of a company.”
Video source: @Wharton (2014)
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Peter Thiel explains his principle of only working on problems that wouldn’t get solved without you
Thiel shares that he’s “a little bit skeptical” of social entrepreneurship:
“Social entrepreneurship is always ambiguous because it’s unclear what the word ‘social’ means. Social can mean that it’s ‘good for society’ or it can mean that it’s ‘good as seen by society’. In the second meaning, you often end up with something that many people are doing.”
He gives education startups as an example of a social startup - it’s seen as objectively good and lots of people are working on it.
Thiel contrasts this to a mission-oriented company:
“A mission-oriented company is one where if you didn’t work on this problem, nobody would.”
He gives the example of Elon Musk starting SpaceX with the mission of going to Mars and making humans interplanetary. If Elon wasn’t working on it, this problem might not get solved.
Thiel believes this is an important principle in general:
“We always want to do things where… if you weren’t working on it, it wouldn’t get solved. Always go for that sort of counterfactual meaning. You don’t want to ever be in a place where you’re just one of a hundred cogs in the machine… You want to be in a place where you’re doing something that can’t be easily replicated or replaced - either on an individual level or the level of a company.”
Video source: @Wharton (2014)
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Stock Analysis Compilation
Artisan Partners on Tencent $TCEHY US
Thesis: Tencent’s gaming pipeline, advertising growth, and strategic market position in China make it a solid play as regulatory headwinds subside.
(Extract from their Q2 letter) https://t.co/0aI3VDjaSs
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Artisan Partners on Tencent $TCEHY US
Thesis: Tencent’s gaming pipeline, advertising growth, and strategic market position in China make it a solid play as regulatory headwinds subside.
(Extract from their Q2 letter) https://t.co/0aI3VDjaSs
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Stock Analysis Compilation
TCW on Xylem $XYL US
Thesis: Xylem's leadership in water management, combined with its strategic acquisition of Evoqua, positions it well for long-term growth as global water challenges intensify
(Extract from their Q2 letter) https://t.co/kxb0jfkAef
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TCW on Xylem $XYL US
Thesis: Xylem's leadership in water management, combined with its strategic acquisition of Evoqua, positions it well for long-term growth as global water challenges intensify
(Extract from their Q2 letter) https://t.co/kxb0jfkAef
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Investing visuals
RT @ZeevyInvesting: 10 Business Battles Super Thread!🥊🧵
A side-by-side comparison of iconic duos, sector leaders, and lifelong rivals.
Who’s your favorite?👇
#1 Visa $V versus Mastercard $MA: A unique duopoly in the digital payments industry 💳
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RT @ZeevyInvesting: 10 Business Battles Super Thread!🥊🧵
A side-by-side comparison of iconic duos, sector leaders, and lifelong rivals.
Who’s your favorite?👇
#1 Visa $V versus Mastercard $MA: A unique duopoly in the digital payments industry 💳
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Stock Analysis Compilation
Broyhill AM on Fiserv $FISV US
Thesis: Fiserv’s scale, embedded distribution advantages, and high-growth potential from its Clover platform make it a leading fintech investment with strong growth runway
(Extract from their Q2 letter) https://t.co/v7iIgSFHkN
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Broyhill AM on Fiserv $FISV US
Thesis: Fiserv’s scale, embedded distribution advantages, and high-growth potential from its Clover platform make it a leading fintech investment with strong growth runway
(Extract from their Q2 letter) https://t.co/v7iIgSFHkN
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Librarian Capital
EU house prices & rents (2010-24Q2) *
House prices fell in 2022 after Rusian energy shock
Rent growth accelerated slightly since 2022
* weighted, so ~50% from Germany, France, Italy https://t.co/SrwUOPAolG
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EU house prices & rents (2010-24Q2) *
House prices fell in 2022 after Rusian energy shock
Rent growth accelerated slightly since 2022
* weighted, so ~50% from Germany, France, Italy https://t.co/SrwUOPAolG
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Librarian Capital
"China demands schoolteachers hand in their passports" (FT)
"Interviews with more than a dozen Chinese public sector workers and notices ... in half a dozen cities show restrictions on international travel have been greatly expanded ... to include rank-and-file employees" https://t.co/f2AEekSppb
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"China demands schoolteachers hand in their passports" (FT)
"Interviews with more than a dozen Chinese public sector workers and notices ... in half a dozen cities show restrictions on international travel have been greatly expanded ... to include rank-and-file employees" https://t.co/f2AEekSppb
China demands schoolteachers hand in their passports https://t.co/CThKNNfCzT tweet
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Stock Analysis Compilation
Guinness GI on Enphase $ENPH US
Thesis: Enphase’s nimble manufacturing and diversified solar product offerings make it a compelling investment as solar energy demand continues to grow globally.
(Extract from their Q2 letter) https://t.co/GWhUpetsX6
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Guinness GI on Enphase $ENPH US
Thesis: Enphase’s nimble manufacturing and diversified solar product offerings make it a compelling investment as solar energy demand continues to grow globally.
(Extract from their Q2 letter) https://t.co/GWhUpetsX6
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Librarian Capital
Terry Smith on Fundsmith decision to exit Diageo (II interview, 19-Sep)
1. LATAM over-stocking "puzzled" them and sector peers
2. "General downturn in spirits consumptions" in US
3. "Might be in the early stages" of GLP-1 effect
4. New management "untested" & unproven
$DGE $DEO https://t.co/lEggT5dOPL
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Terry Smith on Fundsmith decision to exit Diageo (II interview, 19-Sep)
1. LATAM over-stocking "puzzled" them and sector peers
2. "General downturn in spirits consumptions" in US
3. "Might be in the early stages" of GLP-1 effect
4. New management "untested" & unproven
$DGE $DEO https://t.co/lEggT5dOPL
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