Focus

 Focus

Peter Thiel

Focusing on one thing yields increasing returns for each Hour of effort

At a micro-level, an extra hour of focus on the current project

Has a higher return than an hour on something new.

Before you do something new, 

You should understand the opportunity cost vs existing things

At a macro-level,  understanding that applied effort

Has a convex output curve is a very useful discipline

In considering new market areas! 

This convexity means that opportunity cost of 

Transferring new resources 

from existing projects to new ones is high

Notes:

Opportunity cost is a concept in Economics that is defined as those values or benefits that are lost by a business, business owners or organisations when they choose one option or an alternative option over another option, in the course of making business decisions.

Convex Function: ex:  Y = exp(x)