S7 E11: Better Capitalism?
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Peter Thiel's Competition is for Losers
- Peter Thiel, founder of PayPal and Palantir, advises aspiring entrepreneurs to aim for monopolies and avoid competition.
- He believes that competition is for losers and that successful tech companies like Apple, Google, Microsoft, and Amazon have thrived by establishing monopoly-like businesses.
- These monopolies allow companies to accumulate vast amounts of cash due to high-profit margins.
- Adam Smith, a proponent of competition, would have likely opposed such monopolies due to their potential for rent-seeking and price gouging.
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