Peter Thiel Quotes


If I had known how hard it would be to do something new, particularly in the payments industry, I would never have started PayPal. That's why nobody with long experience in banking had done it. You needed to be naive enough to think that new things could be done.


Citations

Thiel, Peter. "CS183: Startup." Stanford University, Spring 2012.

Related Quotes

He was referring to the institutions in the particular fields. An established institution in education like a university might develop an innovation in astronomy or language translation, but not likely develop significant innovations in education. An established computer programming company might innovate the method of warehousing and shipping merchandise, but they are not likely to develop an innovative way of computer programming. That is typically done by a programming non-established firm or individual. There are a number of exceptions and this is not put forth as a general principle, but as a statistical observation. Established institutions are working harder and smarter to find ways of innovating regularly, and may succeed more frequently than the present.


Peter Thiel
Peter Thiel
  • Born: October 11, 1967
  • Nationality: American
  • Profession: Businessman, Entrepreneur, Investor

Peter Andreas Thiel is a German-American billionaire entrepreneur and venture capitalist. A co-founder of PayPal, Palantir Technologies, and Founders Fund, he was the first outside investor in Facebook. He was ranked No. 4 on the Forbes Midas List of 2014, with a net worth of $2.2 billion, and No. 391 on the Forbes 400 in 2020, with a net worth of $2.1 billion. In 2016, Thiel confirmed that he had funded Hulk Hogan in the Bollea v. Gawker lawsuit because Gawker had previously outed him as gay. The lawsuit eventually bankrupted Gawker.