(Bloomberg) — “Competition is for losers.”
That’s Peter Thiel talking, again and again, about his big rule for success.
It means go where other people haven’t yet, something he famously did in the 1990s by co-founding PayPal Holdings Inc., and then even more famously, in the 2000s, by throwing $500,000 at a hoodied Harvard kid and something called TheFacebook.
His iconoclastic streak has made Thiel a rich man — richer than ever, in fact, with his data-mining company, Palantir Technologies Inc., soaring on the stock market. Today he’s worth $5.3 billion, according to the Bloomberg Billionaires Index.
But if, after a point, money is just a way to keep score, even his latest coup with Palantir can’t disguise this fact: Peter Thiel may be one of the best investors in Silicon Valley, but his track record is decidedly mixed.
The same against-the-grain approach that has paid off so