Peter Thiel, investor and entreprenuerer, gave a fascinating speech titled “How to Build the Future” at the London School of Economics last week. He gives his “contrarian perspective” on competition, technology, and innovation:
When we say that we’re living in the developed world, we are implicitly saying that we’re living in that part of the world where nothing new is going to happen, it’s done, where things are static. Where we can expect decades of stagnation in the years ahead. We’re saying that the younger generation should expect to have a living standard no better than, and maybe worse then their parents.
I think we need to resist this idea very strongly. We should not accept this idea that we’re living in the developed world. And I think we should instead ask much more forcefully the question of how do we go about developing the developed world.