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Austrian economists understand that monopoly is moral when based on innovation, which can be swept away by the next innovator. But monopolies become immoral and infinitely sustainable when governments get involved - through supportive laws, regulations, and funding. Peter Thiel suggests we should aim for innovative monopolies that not only create great value but also capture it. To avoid political envy, the monopoly can be camouflaged by investing in diverse products, like Google.
- What kind of startup should we build?
- How are the airlines different from Google?
- How do economists view monopoly?
- How do Americans mythologize monopoly?
- How are we confused about monopoly?
- How is Google a monopoly?
- How does Google not appear as a monopoly?
Dishes - Favoring Monopoly Chops - Discussion & Background Desserts References and More
50 minute video of the lecture.
Peter Thiel explains why "Competition is For Losers". See the slides, readings, and more, at startupclass.samaltman.com/courses/lec05/ View the annotated tra...
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