Peter Thiel’s best lesson? 🔥 #20VC with Anduril Co-Founder Matt Grimm...

Biggest lesson from Peter is that there's no alpha in consensus. The point is not to just be like cantankerous or not to be disagreeable. The point is that if everyone agrees, if the consensus is X, then there's no alpha in X because like by definition, you were just going to perform exactly as well as literally everybody else is. So the alpha, the actual interesting signal, the investable signal, the differentiated signal is in being contrarian. It's very easy to say that incredibly hard to implement in practice.