Billionaire Facebook investor, former PayPal CEO, and Palantir cofounder Peter Thiel taught a class at Stanford this Spring.
We’re going through student Blake Masters’s notes today and posting the most interest…
Per capita incomes are still rising, but that rate is starkly decelerating. Median wages have been stagnant since 1973. People find themselves in an alarming Alice-in-Wonderland-style scenario in which they must run harder and harder—that is, work longer hours—just to stay in the same place. This deceleration is complex, and wage data alone don’t explain it. But they do support the general sense that the rapid progress of the last 200 years is slowing all too quickly. The problem, [Peter] Thiel argues, is that we’ve forgotten how to go from 0 to 1; because of globalization we’ve focused on copying the technologies we already have and moving them elsewhere. Thiel says this is going from 1 to n.