Start with a really small market and take over that whole market, and then over time find ways to expand that market in concentric circles.
Peter Thiel
Stanford University CS Lecture 2015, 2015
视频从13:59开始——这句语录被说出的那一刻
这句语录背后的故事
Thiel's most counterintuitive strategic insight was that the best startups begin with markets so small that business school professors would dismiss them as worthless. He traced this pattern through the defining companies of Silicon Valley. Amazon started as just a bookstore. eBay started with Pez dispensers and Beanie Babies. Facebook's initial market was 10,000 people at Harvard — it went from zero to 60% market share in ten days. PayPal started with 20,000 power sellers on eBay, which Thiel's team initially thought were 'terrible customers — just people selling junk on the Internet.' But getting 25-30% market penetration in two or three months gave them a foothold to expand from. The opposite approach — starting with a massive market — was why 'every clean tech PowerPoint presentation from 2005 to 2008' failed. 'A minnow in a vast ocean' meant you had competitors everywhere and no way to differentiate.
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