And it does not include any cost for setting up production. This estimate includes only $2,000 for engineering, implying that your invention only requires about half a week of engineering labor. Meanwhile, to elaborate on Thiel’s point that individuals don’t usually have the resources to develop revolutionary inventions, financial consultants estimate that it takes a minimum of about $25,000 to develop a new invention. According to Christensen, revolutionary innovations typically start out in markets that are too small to interest established companies, though they can grow exponentially from there. a few paragraphs above his own answer, Thiel writes,īecause globalisation and technology are different modes of progress, it's possible to have both, either, or neither at the same time.In The Innovator’s Dilemma, Clayton Christensen elaborates on Thiel’s observation that established companies seldom create revolutionary technologies. However, technology is not the opposite of globalisation. You can see how it takes the form described earlier in the chapter: "Most people believe x" (x = "the future of the world will be defined by globalization"), "but the truth is the opposite of x" (the opposite of x is "technology matters more").
My own answer to the contrarian question is that most people think the future of the world will be defined by globalization, but the truth is that technology matters more. With this in mind, it is possible to understand Thiel's own answer, which he also explains in the first chapter: you have a typewriter and you invent a word processor). you have a typewriter and mass-produce it), while technology takes the world from 0 to 1 (e.g. Horizontal progress takes the world from 1 to n (e.g. Vertical progress is technology or, more precisely, the invention of new technology. Horizontal progress takes things that already work somewhere and makes them work everywhere according to Thiel, this is what globalisation does. He then goes on to define two types of progress: horizontal or extensive progress versus vertical or intensive progress.
In the same chapter, Peter Thiel describes the question "What important truth do very few people agree with you on?" as a "contrarian question" and adds thatĪ good answer takes the following form: "Most people believe in x, but the truth is the opposite of x."
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