It seems to me that thiel is arguing it’s easier to make money or create impact by finding a new niche and occupying it instead of competing for a spot at existing niches. This perspective is probably only valid in the tech industry? Only the tech industry is booming all the time with new niches emerging every so often. Other industries are quite fixed. And we are only seeing the quick emergence of new economic niches because we are going through a tech revolution. It’s possible that such rate of progress subsides eventually and thiel’s model wouldn’t work anymore. But so far his idea seems valid from an individual perspective (as in I know I am moral and will use my company for good impacts)
Hmm he gives the examples of Google and Apple, two very much not niche companies. And while they may have started out as as niche, whether or not they had competition when they started doesn't affect whether or not competition is important for good markets, imo? Companies are also not moral actors, which is what he is focuses on in this article. Individual competitions have pros and cons ofc (so that's fair), but in the world of corporate entities the best way to keep them in check are competitors that have the potential to reduce sales/revenue.
It seems to me that thiel is arguing it’s easier to make money or create impact by finding a new niche and occupying it instead of competing for a spot at existing niches. This perspective is probably only valid in the tech industry? Only the tech industry is booming all the time with new niches emerging every so often. Other industries are quite fixed. And we are only seeing the quick emergence of new economic niches because we are going through a tech revolution. It’s possible that such rate of progress subsides eventually and thiel’s model wouldn’t work anymore. But so far his idea seems valid from an individual perspective (as in I know I am moral and will use my company for good impacts)
Hmm he gives the examples of Google and Apple, two very much not niche companies. And while they may have started out as as niche, whether or not they had competition when they started doesn't affect whether or not competition is important for good markets, imo? Companies are also not moral actors, which is what he is focuses on in this article. Individual competitions have pros and cons ofc (so that's fair), but in the world of corporate entities the best way to keep them in check are competitors that have the potential to reduce sales/revenue.