July 16, 2023

By Mohammed Afzal

Creating value isn't enough. You also need to capture some of the value you create — Peter Thiel

The quote above from Peter Thiel is in the context of tech start-ups, while I’ll be expanding on it more generally.

Craftsman: Creates value, may or may not capture it.

Businessman: Captures and trades value, created by craftsman.

Here a craftsman is anyone who creates value out of nowhere, like engineers, artists, designers, etc., while a businessman is anyone who does business with the value created by the craftsman.

No matter which side you are on, capturing value at least some of it is very important. Most of the time, the craftsman ends up poor capturing the least value, while the businessman ends up rich capturing the most. A craftsman who is also a great businessman is a rare combo and vice versa.

Thank you!

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