Just started Max Chafkin's new Peter Thiel book ("The Contrarian"). In anticipation of it, also re-read Thiel's 2014 Reddit AMA...tons of interesting answers.
THREAD: Here are 10 of them including on Elon, MBAs, Facebook, Bitcoin and Palantir.
1/ Thiel's first impression of Elon
2/ Thiel's biggest investing mistake was not doubling down on Facebook (he also sold 80% of stake shortly after FB's IPO, at about $20 a share...it's now >$350)
3/ Thiel's "ban" on hiring MBAs
4/ Thiel's rationale for investing in SpaceX
5/ Thiel's reaction to the movie "The Social Network"
6/ Thiel's own answer to his famous question: "What is one thing you believe is true that most people don't"
7/ Thiel on whether or not he'll invest in someone wearing a suit
8/ Thiel on whether the Thiel Fellowship was a success
9/ Thiel's 2014 bull case for Bitcoin was around payments
10/ And prob the funniest answer
11/ If you enjoyed that, I write threads on business and tech 1-2x per week.
Interesting theory: "The Economist magazine cover" as the ultimate sign of consensus, so contrarian investors bet against it.
Old covers include:
◻️ "Brazil's Fall" = bottom of Brazil stocks
◻️ "The Almighty Dollar" = top of USD
◻️ "The end of oil" = bottom(ish) of oil
Obviously, there's cherry-picking here.
For example, this Big Tech cover in January 2018 did *not* call the top of Big Tech (not even close).
Anyways, the cover of The Economist this week was on DeFi. Not saying it's anywhere near the top, pls don't @ me (was just the latest cover and wanted to talk about the theory).
Found a glorious TikTok account: "Design Secrets", which explains the technical and psychological design rationale behind everyday things.
Here are 14 gems 🧵
1/ MOVIE THEATRE SEATS & CURTAINS are red because it is the first color the human eye loses sight of when lights dim (or in darkness).
With this effect, people focus on the show instead of surroundings.
2/ DRAIN PIPES are U-shaped to create a one-way valve that lets water flow but also traps dangerous gases.
◻️ Water flows down
◻️ The U-shape collects some water, creating a "seal"
◻️ Gases from the plumbing can NOT pass up to the sink because of the "water trap"