What Important Truth Do Very Few People Agree With You On?
Peter Thiel asks people that question in interviews. It’s one of the opening lines of his book, Zero to One. It’s an awesome question. How you answer it can tell someone a lot about you. It’s open ended. Broad. It’s a question designed to get someone to reveal something deep about their personna.
I have learned a lot startup investing. I don’t think I will ever stop learning. When I traded, I never had it all answered either. As I read the book, I thought about how many times I stepped out and made contrarian bets. The crowd went one way, and I went another. A lot of the time, I failed. That’s why there is wisdom in crowds. But, if you always go with the crowd, you blend in. As soon as I got cocky and thought I had the world licked, the market had a way of knocking me on my ass.
No one makes a huge impact or a lot of money by blending in.
Thiel says, “It’s intellectually difficult because the knowledge everyone is taught in school is by definition agreed upon. And it’s psychologically difficult because anyone trying to answer must say something she knows to be unpopular. Brilliant thinking is rare, but courage is in even shorter supply than genius.” (Bold is my add for emphasis)
I remember two moments at different points of my schooling that impacted me. The first was in second grade art class. We were supposed to draw and color a scene of insects in tall grass. Every kid in the class drew the way the teacher wanted. I drew a very stylized cartoonish version. The teacher graded me down because I was out of step with the class. When I was sitting in a lecture hall during BA 303 at the University of Illinois, Professor Hill asked us, “How many people want to run their own business? Please stand up.” 3-4 of us in a massive lecture hall stood up. My classmates looked at us like we were from Mars. At that time, the economy hadn’t rebounded yet and the track was college to corporate job.
Today, I would answer by saying that Chicago and the greater Midwest will be the place to make investments in future technology during the next ten years. Why? Two reasons. People everywhere in the world have to eat. The international rise in the middle class means they will want access to better food. If the Midwest is good at anything, it’s food, food production, The second reason is people need shelter. The Midwest has lots of architectural and building technology DNA that can be used as a base for innovation.
How would you answer that question?
Source: http://pointsandfigures.com/2014/09/25/what-important-truth-do-very-few-people-agree-with-you-on/
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