How to build a 10X Future

I just finished reading a book from 2014 called “Zero to One” by PayPal co-founder, Peter Theil. One of the points in the book is that all businesses should aim to create a monopoly.?

Saying out loud that you aim to build a monopoly does not have a very nice sound to it. But monopolies are only bad in societies where nothing changes. And there is no such thing as total monopoly in a free capitalist society.?

To me a monopoly is the same as being differentiated or finding a niche in the market. If you work smart, you will be able to build a moat that can protect your business from competition.?The importance is that you must aim to be 10 times better than any other alternative.

A recent example of a monopolistic company is OpenAI with their superior platform ChatGPT . According to Peter Theil there are four building blocks. If you dominate all blocks you will be able to make a lot of money in a very short time.?

Proprietary Technology

ChatGPT is not 10 times better than any other AI platform. We have already seen voice recognition and speech generation from Amazon and Google which are much more complex. But the way ChatGPT is used to generate text through machine learning is second to none.??And it is 10 times better than the alternative which is 谷歌 search.

Network Effects

ChatGPT has been so hyped that it only took 5 days to reach 1 mio users, and in one month surpassed 100 mio users.?This is not seen before in history that a platform has grown so fast. It is remarkable.

Economies of scale?

The sky's the limit when your platform is built as a software as a service platform. OpenAI will need some extra server space and bandwidth, but this is also part of the business model where paying subscribers are guaranteed faster response time.?

Branding

While there is a lot of hype around ChatGPT the population or debate is also divided. Will ChatGPT have negative implications on the free society and the way we live or will it be a gift that can create significant improvements to the standard of living. Sam Altman did not do a very good job in branding ChatGPT when he appeared in front of Congress and advocated for regulation and saying that only licensed developers should be allowed to develop AI applications.