“Thinking about the future is what I do for a living”.
Paypal founder, Peter Thiel, does not like competition. It seems not to be because he isn’t good at it, but more because he put emphasis on creating something entirely new, making competition irrelevant.
In this speech given the 22nd of May 2016, Thiel talks about his school years and how his ambitions to become a lawyer was not a plan for the future, but more an alibi of the present. Sort of “a proven way”, removing worry and uncertainty about his future when friends and family asked.
Here is the advice from Peter Thiel’s speech:
1. Make it new: Take the best of old ways or tradition and make it new.
2. The term “developed country” implies that history making is over and everything have been made. Don’t fall into the trap of thinking like this.
3. “Familiar tracks and traditions are like clichés: They are everywhere, they may sometimes be correct but often they are justified by nothing except constant repetition.”
4. He Quotes shakespeare, “to thine own self be true” and notes that you should not be true to your old ways of doing things. Your old ways of thinking might not be motivated or build on the best foundation. You should not follow your old ways of thinking blindly. Also be skeptical of other people giving advice. Question it!
5. Live as if you were to live forever: Treat people around you as if the were to be around forever. It was what Einstein implied when he said compound interest was the most powerful force in the universe. Invest time in building durable and long lasting relationships.
Watch the speech here: