Make incremental advances - “Grand visions inflated the bubble, so they should not be indulged. The entrepreneurs who stuck with Silicon Valley learned four big lessons from the dot-com crash that still guide business thinking today:ġ. Here is an example Thiel gives to help illuminate this idea. The first step to thinking clearly is to question what we think we know about the past. The internet bubble of the ’90s was the biggest of the last two decades, and the lessons learned afterward define and distort almost all thinking about technology today. Conventional beliefs only ever come to appear arbitrary and wrong in retrospect whenever one collapses we call the old belief a bubble, but the distortions caused by bubbles don’t disappear when they pop.
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