Billionaire Peter Thiel, widely known as one of the founders of PayPal, is perhaps most strongly influenced by his experience as a professional chess player.
In his book “Zero to One: Notes on Startups, or How To Build the Future,” he outlines his theory on “last mover advantage.”
His advice goes against the popular theory that being the first one to enter the market is one of the most important tactics for building a successful company. Instead, he advises startups to view their business model like a game of chess and focus on their long-term vision.
Here, he goes into greater detail and provides a concise explanation of the two other major themes from his book.
Produced by Devan Joseph and Alana Kakoyiannis.
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