Peter Thiel is one of the thinkers that have influenced me the most in recent years.
He is very well know in Silicon Valley as a former angel investor in Facebook and PayPal.
He is also a philosopher to the core, libertarian, but supported Trump (like it or not) and has stated that Asperger syndrome is just a kind of neurodiversity and key to success as an innovator (most techies in Silicon Valley are aspies).
Anyway, in this pivotal video Peter Thiel advocates beautifully that competition is for loser: You should always go for monopoly!
If you have not seen the movie before I would highly recommend it:
Some highlights:
✒The X value a business creates is independent on the Y% of the X value it captures.
✒‘competion is for losers’. You should go for monopoly: Do not be the 1000th restaurant in Palo Alto!
Perhaps a little confusing, but I am using Steem and Steemit a little interchangeably here.
How is the Steem blockchain in this regard:
✒We get Steem token and SBD for the value we create as creators and curators, so for the Y% the X value we capture should be pretty high. For the Steem blockchain as a whole, I am more unsure. We do not have any external revenues.
Some kind of intelligent advertising is probably warranted to increase the value captured.
✒In regard to the question about monopoly, I would say that there is a lot of competition in social media in general, but Steem is almost a monopolist in blockchain-based social media.
He also say you should begin by studying the endgame!
The endgame for Steem is in my opinion a monopoly on blockchain based social media, blogging, video and music.
I do not think that we are a direct competitor to Facebook or vice versa.
Facebook is a ‘traditional’ company, whereas Steemit is based on the Steem blockchain and is unique in that regard.
Steemit is totally new and a big improvement from Facebook for the users, and Steem is also very scalable.
The best argument for why the Steem blockchain will capture a lot of value is that Bitcoin has had a tremendous growth in value and made many people multimillionaires.
Thus, so far it seems that blockchain technology captures a lot of value it creates.
The Steem blockchain has also huge potential for expantion:
We already got Steemit, ChainBB, Busy.org, DTube and DSound.
Thus, this all this will again strengthen Steemit in my opinion.
Great post! I think Steem might end up with a monopoly of the blackchain-based social media market. I bet we will get a lot of clones in the coming years, but I think Steem will have enough traction by then to stay in the lead. Just like Bitcoin; it's by far not the best cryptocurrency, but it still almost had monopoly until very recently.
I was his book from zero to one. He shares interesting thoughts and I agree in many cases with him. To answer your question.
Yes, steemit could be the major player in term of block chain based social media. But it's nevertheless the social media market where traditional players like Facebook are also in.
Facebook is the synonym for social media in my opinion but it's no more so solid as before.
I think steemit should build more Plattform based on the Steem blockchain like they are already doing it.
I think an entire ecosystem would be a good move.
Not read zero to one yet! Going to read it:) Yes, an entire ecosystem is the key, and I think we are going in the right direction.
Great book! I can highly recommend it. :)
Yes, I also think so.
May I know if you have current projects running?
I am not a developer, but I am the father behind @whalereward. It is just in its infancy, but it gives much higher ROI than any other service on Steemit and also give intelligent comments. I am going to chance it a little so I would start to at least breakeven. But, it also good to give something back to the community. So, I will try to find the middle way.
Thanks for great content
Thanks also for your great support
Congratulations @janusface
MinnowsPower listed your post "Peter Thiel: Competition Is For Losers!" as one of the top 10 upvoted and commented posts of the day...!!!
Described "monopoly" and how Steem is differ from Social Media platforms like Facebook. Excellent writing skill and excellent article as well.
100% Upvoted by @MinnowsPower
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Thanks @minnowspower!
You are welcome and thank you for the kind support...!!!
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A big part of the message he is transmitting is about the winning mentality. You should always think like a winner if you want to win. Focus on your purpose (your business) and you will see the results. I love how people like you use Steemit in educational purposes like this one because those kind of lessons are not learnt in school. Thank you, sir.
That video was quite great thanks for sharing this :)
That looks like a video to watch but I have to wait cause I am at work dammit :D
I don't think FB is in any way related to Steemit cause it's a whole different structure.
I haven't heard of aios before, will keep an eye on it ;)
Thanks 4 this oustanding information!i think this platform gonna stay only for authors who post only original content.
Very nice post. I like the sense of competition as it get you working for something, but I suppose the only competition you should really have is yourself.
Upvoted and Resteemed!
he also helps the government to spy on us peasants which i'm not a big fan of lol
thanks for information in bitcoin and the steem video is very great.....upvoted
@janusface,
You are absolutely correct "The Steem block chain has also huge potential for expansion" Yeah, it has that potential and it will be the next level of regular social media! Thank you very much for sharing such great article with us!
Cheers~
@janusface - oh my goodness, a wonderful video about 'Peter Thiel' Sir. moreover, I love your FaceBook vs Steem Block Chain comparison Sir. Love your work Sir. Therefore, I wish to ReSteem your post.
+W+ [UpVoted & ReSteemed]
Great video for Peter Thiel . thanks for your posting.
100%like and resteem
Thanks for giving the chance to enjoy this beautiful news!!
amigo #resteemia at your service
'The end game for Steem is in my opinion a monopoly on block chain based social media, blogging, video and music' perfect viewpoint about steem. impressive work @janusface
ReSteemia
'UpVoted ReSteemed Commented'
mmm never seen it like that but you are making some realy good points on steemit. I am keeping the video for a later time - don't have 50m right now.
It seems @janusface to me that the Steemit community itself is a revolution in the networked networks, since all the known networks earn on participants, here Steemit gives everyone to earn money :)
Peter Thiel, the real businessman.
Thanks for information @janusface. it is valuable .
You have said it already. Steem is moving towards a monopoly because it is the only social media that generates currency through mining and reward people for it.
I hope it doesn't become a monopoly. I hope it becomes a movement of equality and kindness.
I always liked Peter Thiel
Very nice by Peter that compititor are only for the loser go for monopoly. This type of thinking differentiate you from the others. Thanks for sharing this post @janusface
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Never heard of Peter Thiel, thank you for sharing :)
Please check my new post, I think you will like it!
@paps
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