TIP786: ZERO TO ONE BY PETER THIEL

W/ CLAY FINCK

TIP786: ZERO TO ONE BY PETER THIEL W/ CLAY FINCK

22 January 2026

In this episode, Clay explores Zero to One by Peter Thiel, a foundational book on innovation, monopolies, and what it truly takes to build an enduring business. 

Thiel challenges the idea that progress comes from incremental improvement, arguing instead that the greatest companies are created by going from zero to one, building something entirely new and escaping competition altogether. The episode also examines Uber as a modern zero-to-one case study, highlighting how network effects and innovation can reshape entire industries.

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IN THIS EPISODE, YOU’LL LEARN:

  • What it means for a company to go from zero to one and why true innovation creates outsized value
  • Why competition often destroys profits, while monopolies enable long-term value creation
  • The key characteristics that allow businesses to build and sustain monopolies
  • How to distinguish between creating value and capturing value as an investor
  • Why small, focused markets are often the best starting point for building dominant companies
  • How Peter Thiel’s framework applies to modern businesses like Uber
  • And so much more!

Disclosure: This episode and the resources on this page are for informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. For full disclosures, see link.

TRANSCRIPT

Disclaimer: The transcript that follows has been generated using artificial intelligence. We strive to be as accurate as possible, but minor errors and slightly off timestamps may be present due to platform differences.

[00:00:00] Clay Finck: On today’s episode, we will be exploring the book Zero to One by Peter Thiel. Zero to One is one of my favorite books on the topic of innovation monopolies and what it really takes to build something that’s enduring. Thiel has one of the most interesting backgrounds of any investor I’ve come across.

[00:00:18] Clay Finck: At his core, Thiel is an entrepreneur. The first team that Thiel built became known as the PayPal Mafia because so many of his former colleagues went on to help each other start and invest in successful tech companies. Thiel challenges the idea that progress comes from simply doing more of what already works.

[00:00:37] Clay Finck: Instead, he argues that the biggest breakthroughs happen when someone creates something entirely new, or in his words, when a business goes from zero to one. I wanted to cover this book because it forces investors to look beyond the spreadsheets in the near term metrics, and instead think deeply about competitive advantages, long-term value creation in the future of an industry.

[00:01:01] Clay Finck: Much like investing, it’s easy to assume that success comes from following the crowd and competing in familiar markets. But as Thiel explains competition often destroys profits while truly great businesses escape competition. Altogether, zero to one is a reminder that the most valuable companies are not built by copying what already exists.

[00:01:25] Clay Finck: They’re built by seeing the world differently and acting on that insight. At the end of the episode, I’ll also share my thoughts around a company that had its own zero to one moment, and that company is Uber. There’s a lot of debate currently around the strength of Uber’s moat, and I find it to be one of the most interesting case studies in today’s market.

[00:01:43] Clay Finck: So with that, I hope you enjoy today’s episode on Zero to One by Peter Thiel.

[00:01:52] Intro: Since 2014 and through more than 190 million downloads, we break down the principles of value investing and sit down with some of the world’s best asset managers. We uncover potential opportunities in the market and explore the intersection between money, happiness, and the art of living a good life. This show is not investment advice. It’s intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own and they may have investments in the securities discussed. Now for your host, Clay Finck.

[00:02:34] Clay Finck: Hey everybody. Welcome back to The Investor’s Podcast. I’m your host, Clay Finck. On today’s episode, I’ll be chatting about the book Zero to One by Peter Thiel. Peter Thiel is one of the most successful and unconventional investors of the modern era. In 2005, Thiel launched the Founders Fund, which sought to invest in founders who were building revolutionary technologies.

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