북클럽
브라이언 리뷰
제목: ZERO TO ONE
저자: Peter Thiel
브라이언 요약: (실리콘밸리 역사책?)
- 작은 시장이라도 독점하세요.
- 좋은 팀을 만드세요.
- 영업/광고/마케팅이 중요하다.
브라이언 노트:
Preface: Zero to One
- 1 to n vs 0 to 1
- Technology
- Zero to One is about how to build companies that create new things.
1. The Challenge of the Future
- 0 to 1: Vertical or intensive progress (Doing new things)
- 1 to 0: Horizontal or extensive progress (Copying things that work)
2. Party Like It's 1999
- Silicon valley entrepreneurs learned 4 big lessons
- Make incremental advances (Small incremental steps)
- Stay lean and flexible
- Improve on he competition (Don't create a new market prematurely)
- Focus on product, not sale
- Opposite principles are more correct.
- It is better to risk boldness than triviality.
- A bad plan is better than no plan.
- Competitive markets destroy profits
- Sales matters just as much as product.
3. All Happy Companies Are Different
- Creating value is not enough - you also need to capture some of the value you create.
- In 2012, average airfare each way was $178 with airlines made only 37 cents per passenger trip
- Google brought $50 billion in 2021 (vs $160 billion for the airlines), but Google kept 21%of those revenues as profits
- Perfect competition & monopoly
- Monopoly: we mean the kind of company that is good at what it does that no other firm can offer a close substitute. Google is a good example of a company that went from 0 to 1.
- Don't build an undifferentiated commodity business.
- Google: monopoly on what?
- Monopolies drive progress: because monopoly profits provides a powerful incentive to innovate.
4. The Ideology of Competition
- Our educational system both drives and reflects our obsession with competition.
- If you can't beat a rival, it may be better to merge.
5. Last Mover Advantage
- In 2013, Twitter valued at $24 billion : more than 12 times the Time's market capitalization. (Times earned$133 million in 2012 while Twitter lost money.)
- The answer is cash flow. (projected future cash flow)
- Will this business still be around a decade from now?
- characteristics of monopoly
- Proprietary technology: Google's search algorithms. Amazon's more book selections.
- Network Effects: network effects businesses must start with especially small markets.
- Economies of Scale: copy of the product is close to zero. Service businesses especially are difficult to make monopolies.
- Branding:
- Building a monopoly
- Start small and monopolize: start with a very small market. It is easier to dominate a small market than a large one. Red flag: getting 1% of a $100 billion market.
- Scaling Up: dominate a niche market then expand into related and slightly broader markets.
- Don't Disrupt: avoid competition as much as possible.
6. You Are Not a Lottery Ticket
- Outliers by Malcolm Gladwell: success by luck?
- Optimist welcome the future. pessimists fear it.
- Optimistic/Pessimistic/Definite/Indefinite
- Iteration without a bold plan won't take you from 0 to 1.
- Change and Design example: Steve Jobs from Apple in 1976, iPod
7. Follow the Money
- Vilfredo Pareto: Pareto principle: 80-20 rule.
- The power law.
- First. only invest in companies that have the potential to return the value of the entire fund. Second. rule number one is so restrictive, there can't be any other rules.
- The power law means that differences between companies will dwarf the differences in roles inside companies.
- One market will probably be better than all others.
8. Secrets
- A conventional truth: it is not a secret.
- Conventions (Easy) - Secrets (Hard) - Mysteries (Impossible)
- What important truth do very few people agree with you on?
- What valuable company is nobody building?
- How to find secrets?
- Secrets of nature and secrets about people
- Secrets about people are different. things they don't know about themselves or things they hide.
- What are people running companies not allow to say? Ask
- What to do with secrets?
9. Founders
10. The Mechanics of Mafia
Image from Wikipedia. Back row from left: Jawed Karim, co-founder Youtube; Jeremy Stoppelman CEO Yelp; Andrew McCormack, managing partner Laiola Restaurant; Premal Shah, Pres of Kiva; 2nd row from left: Luke Nosek, managing partner The Founders Fund; Kenny Howery, managing partner The Founders Fund; David Sacks, CEO Geni and Room 9 Entertainment; Peter Thiel, CEO Clarium Capital and Founders Fund; Keith Rabois, VP BIz Dev at Slide and original Youtube Investor; Reid Hoffman, Founder Linkedin; Max Levchin, CEO Slide; Roelof Botha, partner Sequoia Capital; Russel Simmons, CTO and co-founder of Yelp
- Employees should love their work. They should enjoy going to the office so much that formal business hours become obsolete and nobody watches the clock.
- Hire people who would actually enjoy working together.
- Recruiting should never be outsourced.
- Talented people don't need to work for you. They have options. Why would some one join your company?
- Bad answers
- Good answers: 1. Mission 2. Team
- Every person in the company responsible for doing just one thing.
11. If You Build It, Will They Come?
- 3 kinds. 1. thinkers, leaders, and achievers 2. salespeople, consultants 3. workers and artisans.
- Customers will not come just because you build it.
- In Silicon Valley, nerds are skeptical of advertising, marketing, and sales. but advertising matters because it works.
- The best product doesn't always win.
- Strong distribution plan. CLV. CAC. (distribution is the hidden bottleneck.)
12. Man and Machine
- Computers are tools, not rivals.
- Technology is the one way for us to escape competition in a globalizing would.
- Machine learning, big data. Actionable insights can only come from a human analyst.
13. Seeing Green
- 7 questions that every business must answer:
- The engineering question
- The timing question
- The monopoly question
- The people question
- The distribution question
- The durability question
- The secret question
- Doing something different is what's truly good for society. and its also what allows a business to profit by monopolizing a new market.
14. The Founder's Paradox
Conclusion: Stagnation or singularity?
Zero To One by Peter Thiel
2001년부터 웹사이트 제작하고 지금은 미국에서 웹사이트 제작과 온라인 마케팅 회사를 운영하는 브라이언입니다. 다양한 온라인 비즈니스와 웹사이트를 직접 운영하며 쌓은 구글 SEO, 백링크, 워드프레스, 디지털 마케팅 경험을 바탕으로 실무 중심의 정보를 공유하고 있습니다. 이 사이트가 여러분의 온라인 비즈니스 성장에 도움이 되길 바랍니다.