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$1,700 to $5 Billion - Peter Thiel's Wild Investment Strategy

cryptocurrency 3 months ago


Interested in seeing my full portfolio with explanations along with buy and sell alerts? Join our Patreon community here: https://www.patreon.com/casgains Check out Peter Thiel's books: Zero to One: Note to Startups, or How to Build the Future, by Peter Thiel - https://amzn.to/3AQZ33T The Diversity Myth : Multiculturalism and Political Intolerance on Campus by David Sacks and Peter Thiel - https://amzn.to/3AVsKAJ Casgains's Recommended Investing/Business Books - https://docs.google.com/spreadsheets/d/1DI8ca5GLEfQXU34uplO3E3w6YHXbvMbK1JR-GxXBeUc/edit?usp=sharing My Second Channel: https://www.youtube.com/channel/UCPkDot_lMk7HB_c68HubbUg Twitter: https://twitter.com/casgains Instagram: https://www.instagram.com/casgainsacademy/ In this video, I cover the undercover rise of Peter Thiel, who has grown to become a contender for the world's greatest investor. With just $1,700 in a tax-free retirement savings account, Peter Thiel was ready to take on the traditional corporate world. Two decades later, he would invest that $1,700 to grow it into $5 billion today. This is the story of how Peter Thiel multiplied his money by 2.9 million times, which is a percentage gain of over 294 million percent. When you think of the world’s greatest investors, you might think of Warren Buffett, Charlie Munger, Peter Lynch, or even Cathie Wood. However, although he is drowned in political controversy, Peter Thiel might just be the world’s greatest investor. Born in 1967 in Frankfurt, Germany, Peter moved with his family to the United States at one year of age. At the age of 6, he began playing chess, and by age 12, he was already ranked 7th in the United States in the under-13 division. In addition to being a chess star, he was also a math prodigy and successful student. In middle school, he received the highest score in a statewide math competition. Before graduating from San Mateo High School in 1985, he was also named as the valedictorian of his class. While still in high school, he had a large sticker on his chessboard kit that said three words: “Born to Win.” If anyone was born to win, it was definitely Peter Thiel. When you think of the world’s greatest investors, you might think of Warren Buffett, Charlie Munger, Peter Lynch, or even Cathie Wood. However, although he is drowned in political controversy, Peter Thiel might just be the world’s greatest investor. Born in 1967 in Frankfurt, Germany, Peter moved with his family to the United States at one year of age. At the age of 6, he began playing chess, and by age 12, he was already ranked 7th in the United States in the under-13 division. In addition to being a chess star, he was also a math prodigy and successful student. In middle school, he received the highest score in a statewide math competition. Before graduating from San Mateo High School in 1985, he was also named as the valedictorian of his class. While still in high school, he had a large sticker on his chessboard kit that said three words: “Born to Win.” If anyone was born to win, it was definitely Peter Thiel. After leaving the law firm, he became a derivatives trader at a Credit Suisse unit. A derivatives trader is someone who speculates on the future pricing of assets by trading contracts. For example, some derivatives traders speculate on the price of oil by trading oil futures contracts. This time, although Peter felt better about it, he still thought that he was out of place. In 1996, Peter left his job in New York to start his own hedge fund in Menlo Park, California. At the end of his fundraising round, he successfully raised $1 million from his friends and family. His new hedge fund was named Thiel Capital. Shortly after, his life would take a sudden turn. After starting his hedge fund, Peter met a man named Max Levchin, who was a programmer from the University of Illinois Urbana-Champaign, which is better known as UIUC. Max had an idea to create a cryptography internet company named Fieldlink. Peter thought the idea had massive potential and wanted to become a co-founder. Eventually, after starting the business, bringing in several people, and making some minor changes, Peter and the other co-founders renamed Fieldlink as Confinity. In March 2000, Confinity merged with X.com, another financial service company that was founded by Elon Musk. So why did Peter do this merger? In his own words, competition is for losers. The merger of Confinity and x.com marked the start of Paypal, which would have some turbulent changes ahead. Elon Musk, who was the president of the company, and Bill Harris, the CEO, both disagreed with each other about the future of financial services. As a result, Bill left the company in May 2000, and Elon replaced Bill as the CEO. Despite this upheaval, things did not go well. In October, Musk began focusing the company on Paypal.
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