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Question

According to Peter Thiel, founders and entrepreneurs starting a company always want to aim for:

Group of answer choices



monopoly


more competition


no competition


less competition


oligopoloy

2 These are true according to Peter Thiel's understanding of creating value (you need to find and mark more than one to earn all points available for this question):

Group of answer choices



the value a company delivers to the world is not the same as the value a company keeps


a company can deliver a lot of value, but capture a small amount to itself


a company can deliver an average amount of value, but capture a very large return


a company can have gigantic revenues and very low profit margins


a company can have relatively average revenues, and yet high profit margins

3 According to Peter Thiel, the following is NOT true about competition:

Group of answer choices



competition is for losers


its better to start a company going after the largest possible market


its better to start a company going after a small specialized niche market


its better to start a company going after a small market that can be expanded

4 According to Peter Thiel, these are true about companies that want to become monopolies:

 

Group of answer choices



You want to go after small markets


You start with a really small market and take over the whole market


You find ways to expand from a really small market in concentric circles


You avoid going after a giant market on day one


The main reason to go after really small markets is to avoid competition

 5 These are lessons learned from Peter Thiel (you need to find and mark more than one to earn all points available for this question):

Group of answer choices



To avoid undervaluing a startup, one needs to have a longer term vision of its potential


To avoid overvaluing a startup, one needs to have a longer term vision of its potential


To increase its chances of success, startups must have incremental goals, to keep competitors at bay


It's better to be a one of a kind company


You want to be the only player in a small ecosystem

6 You want to go after small markets, markets that are so small people often don't even think that they make sense.

Group of answer choices



True


False

7 Imagine Los Angeles County. If you want to start an organic retail shop, you would likely target Santa Monica, Manhattan Beach, or Malibu. The challenge is that there is intense competition there. However, you would probably have to drive miles to find an organic retailer in the outskirts of LA County. Therefore, according to Peter Thiel, it would be better to start a number of those shops in those areas neglected by the big brands, such as Trader Joe's, until your company gain financial strength needed to scale.

Group of answer choices



True


False

8 Proprietary technology and massive improvements over existing solutions translate into huge advantages. Those gains are linked to:

Group of answer choices



High fixed costs and high marginal costs


High fixed costs and low profit margins


Low fixed costs and high marginal costs


Low fixed costs and low marginal costs


High fixed costs and low marginal costs

9 The success of Tesla and Space X can be attributed to:

Group of answer choices



Raw innovation


Limitless creativity


Monopolies


Vertical integration

10 The marginal cost of software is significant.

Group of answer choices



True


False

11 Peter Thiel agrees with the following "definitions" of insanity, EXCEPT:

Group of answer choices



"The battles were so ferocious because the stakes were so small"


When lots of people are trying to do somethinge


Don't always go through the tiny little door that everyone's trying to rush thrTo go through the vast gate that nobody is taking


To compete for the sake of being better than others

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