BOOK SUMMARY AND REVIEW - ZERO TO ONE – BLAKE MASTER AND PETER THIEL

 ZERO TO ONE – BLAKE MASTER AND PETER THIEL


Who wrote the book Zero to One, started PayPal in 1998, and took it as CEO and took it public in 2002, defining a new era of fast and secure online commerce.

 He made his first outside investment in Facebook in 2004, where he serves as a director. 

In the same year, he launched Palantir Technologies, a software company that uses computers to empower human analysts in areas such as national security and global finance.

He started the Thiel Fellowship, which ignited a national debate by encouraging youth to learn before school, and he leads the Thiel Foundation,

Which works to advance technological progress and LONG TERM thinking about the future.

Zero to one, this book is written by – BLAKE MASTER AND PETER THIEL

And I have already discussed the writer work on PayPal and Facebook

So I think you recognize that how powerful this book is because the writer of the book observe a lot about business and startups and then he writes their knowledge.

Here, we discuss the important secrete that you want to know before starting any startup.


# MOVE FROM 0 TO 1, NOT FROM 1 TO N


Of course, copying a model is easier than trying something new.

Doing what we already know how to do takes the world from 1 to n, but every time we create something new, we go from 0 to 1.

Going from 1 to N is copying an existing model, but going from 0 to 1 is trying something new and refreshing.

When Bill Gates created Microsoft Word, his company went from 0 to 1. When Larry Page and Sergey Brin created Google, their company went from 0 to 1.

However, when Microsoft tried to copy Google and created Bing, it was a 1 to n moment.

Similarly, when Google tried to copy Microsoft and create Google Docs, it was still 1 to n moments.

Thill notes the importance of startups because most startups focus on creating something new, going from 0 to 1.

Startups embrace risk with a mission to make the world better, while established corporations shy away from risk and continue to improve their revenue


# EVERY MOMENT HAPPENS ONCE


Entrepreneurship is not a learning formula, as every innovation in it is new and unique, no authority can concretely specify how to be more innovative.

In fact, the most powerful pattern I've seen is that successful people discover their value in unexpected ways,

And they can do so because they work more on the principles of their business than on the formulas.


# PROGRESS COMES FROM THE MONOPOLY (UNIQUE OR SINGLE) NOT FROM COMPETITION


There is always the problem of lack of profits in a competitive business.

For example, you're running one of those restaurants in Mountain View and if you're no different from dozens of your competitors, you'll have to work hard to survive.

If you offer affordable food with a low margin, you can probably pay employees only the minimum wage.

And you'll need to squeeze your best: That's why small restaurants have grandmothers to work the register and kids to wash dishes at the back.


# CREATING A MONOPOLY LIKE GOOGLE


Since it does not worry about competing with anyone, its impact on the workers and its products on the whole world is increasing with time.

It is easy to succeed with a monopoly business rather than a competition.

A business with competition has a low-profit margin while when you have a monopoly you can do great profits like google which is more than 3 times air India.

Creating a monopoly market provides good value to the customer.

If you are the only option in the market for something, you can drive up the price; Others will have no choice but to buy from you.


FIRST MOVER IS THE BEST MOVER, BUT THE LAST MOVER IS MORE MUCH BETTER THAN THE FIRST


You've probably heard of the "first-mover advantage". If you enter a market first, you can capture a significant share of the market.

Whereas competing to start is a struggle.

It also works, but moving forward is a policy, not a goal.

What really matters is how you will generate cash flow in future, so in “First mover advantage” one can match or surpass you.

A better option is to consider becoming the last mover - that is, making great growth in the last of a specific market and enjoying the monopoly market for years.


SUMMARY

The last mover has an opinion to see the mistakes of others and to do something great.

But in the whole book writer want to give the knowledge of 0 to one. Means to start a startup.

We have an opinion to do something new or to repeat something means to take something 1 to N. 

If we do something new then we create a monopoly business that is powerful in others.


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