Peter Ti: The third mode of entrepreneurship

February 26, at the 2015 Venture-group Forum, "from 0 to 1", the author of "Silicon Valley venture Godfather," Peter Ti (Peter Thiel) titled "How to cast a great company" keynote speech, and share that in addition to rapid iterative and subversive innovation, There is a third type of innovation that Mr. Jobs used.

Peter Thille said that in Silicon Valley, everyone focused on lean entrepreneurship, rapid iterative innovation, this model is familiar to us, but also we feel comfortable; the second innovation is to develop impressive products, such as Bitcoin, to completely subvert the original pattern.

So is there a third pattern? Peter Thille's answer is yes. The third model is rarely done, but it is very valuable and complex and coordinated (complex coordination).

Many of the ideas that already exist are aggregated in a whole new and complex way, creating new things. This complex coordination is underestimated, says Tyre.

That was the kind of innovation that Steve Jobs used. What is Apple's iphone innovation? is to integrate what is already there. This not only includes products, but also supply chains, partnering with Taiwan's Foxconn, and so on, which has brought huge advantages to Apple for a long time.

The same is true of Elon Musk founder Tesla and SpaceX. Where is Tesla's innovation? is to integrate all that already exists, to bring these things together, and suddenly to create new products, in which we tend to focus on the first two innovations, ignoring the third.

Peter Ti stressed that the choice of entrepreneurial direction, should start from the monopoly of small market, do not choose a large and competitive market, they do not agree with disruptive innovation 0 and games.

Peter Ti is the founder of PayPal, the first external investor in Facebook and an investor in SpaceX, LinkedIn and Yelp.