Monopolies Drive Progress

"Monopolies drive progress because the promise of years or even decades of monopoly profits provides a powerful incentive to innovate." Thiel posits that creative monopolies are essential for societal progress as they generate new products and sustainable profits, enabling long-term planning and innovation. He contrasts this with the destructive nature of competition, which he likens to war, arguing that monopolies provide powerful incentives to innovate and create abundance.