The following is an edited excerpt from Peter Thiel’s Zero To One: Notes on Startups, or How to Build the Future. The excerpt was provided by Currency Publishing. You can buy a copy here.
Brand, scale, network effects, and technology in some combination define a monopoly; but to get them to work, you need to choose your market carefully and expand deliberately.
Start small and monopolize
Every startup is small at the start. Every monopoly dominates a large share of its market. Therefore, every startup should start with a very small market. Always err on the side of starting too small. The reason is simple: it’s easier to dominate a small market than a large one.
https://www.techinasia.com/3-steps-building-monopoly-peter-thiel