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.
What do you think:
Thank you for your time and attention. Steem on!
