#424 Peter Thiel on How to Build a Creative Monopoly

0:00It's true that every great entrepreneur is first and foremost a designer.

0:03Anyone who's held an iPhone or a MacBook has felt the result of Steve Jobs' obsession with visual and experiential perfection.

0:10But the most important lesson to learn from Jobs has nothing to do with aesthetics.

0:14The greatest thing Jobs designed was his business.

0:17Apple imagined and executed definitive, multi-year plans to create new products and distribute them effectively.

0:24Forget minimum viable products.

0:26Ever since he started Apple in 1976, Jobs saw that you can change the world through careful planning, not by listening to focus groups or copying other people's success.

0:37This is one of my favorite sentences in this entire section.

0:40Long-term planning is often undervalued by our indefinite short-term world.

0:46When the first iPod was released in October 2001, industry analysts couldn't see much more than, quote, a nice feature for Macintosh users that doesn't make any difference to the rest of the world.

0:56Jobs planned the iPod to be the first of a new generation of portable post-PC devices.