There is no formula for innovation and there never will be Don't forget the lessons of co-evolution and the Red Queen Effect.Ģ. When you get caught up in the sexy of creating something new, which is more difficult than people expect, your competitors might be going from "1 to n" and eating your lunch. However, there is a "0 to 1" trap that a lot of people get stuck on. However, if we create something new on the other hand, we go from "0 to 1." If you take something that exists and improve upon it you go from 1 to n. To Thiel there are two types of innovation. It's a point worth considering and is another layer to the mental model of time. Echoing Heraclitus, who said that you can only step into the same river once, Thiel believes that each moment in business happens only once.
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