A Quote by Peter Thiel
If you're trying to develop a new drug, that costs you a billion dollars to get through the FDA. If you want to start a software company, you can get started with maybe $100,000.
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When a drug comes out [that's broadly prescribed] there are going to start to be a lot of people on it [in a million person cohort] and you might get therefore an early signal of something unexpected that hadn't come through in the clinical trials. And I'm sure [drug companies] would love it if, in fact, FDA, recognizing that, would say, OK, maybe you don't have to do your trial with 30,000 people because we're going to find out shortly after registration because we'll have a lot of people taking the drug and we'll be able to see what happened using PMI.
When the FDA forces an old drug off the market, patients have very little say in the matter. Patients have even less of a say when the FDA chooses not to approve a new drug. Instead, we are supposed to rely on the FDA's judgment and be grateful. But can the FDA really make a choice that is appropriate for everyone? Of course not.
A father and two sons run Adelphia. It's a cable company. And they took from that company a billion dollars. A billion. Three people - three people took a billion dollars. What were they gonna do, start their own space program? 'Let's send the monkey to Mars, Dad!'
The Republicans want to repeal the Affordable Care Act, I want to improve it. I want to build on it, get the costs down, get prescription drug costs down. Senator Sanders wants us to start all over again. This was a major achievement of President [Barack] Obama, of our country. It is helping people right now.
If I give $1,000 dollars I deserve to get back $100,000 because I am just, that's not greed!
I feel that the best companies are started not because the founder wanted a company but because the founder wanted to change the world... If you decide you want to found a company, you maybe start to develop your first idea. And hire lots of workers.
My struggles have been around protecting our air quality, protecting people from mercury in fish. I was very involved in the effort to get the FDA to recognize that mercury in fish is a real health issue and the FDA, you know, needed to be on that. But they were very tight with the fishing industry and did not want the public to be aware in the same way that they later didn't want the public to be aware of the problems with Vioxx, and they sat on the studies for many years and allowed 140,000 people to develop heart disease.
In 2010, you have roughly 38 billion dollars spent by government on cyber and telecoms security and another 60 billion or so by private corporations. So approximately 100 billion dollars spent on security, mostly on technological solutions, which the corporates are offering governments in particular; it's a very high growth area. So everyone is climbing over each other to get the contracts for government procurement on this. There is undoubtedly an element of this and that's what encourages, in part, the whole idea of locking down the Internet.
If you want to be a Millionaire, start with a billion dollars and launch a new airline.
It's like pouring oil from one glass to another down a line - in the end, you don't have any oil left; it is all stuck to the inside of the glasses. This way, 1,000 dollars become 100 dollars by the time it reaches the people. Whereas if we get 10 dollars, we add our effort to it and the money multiplies.
I think a colony in space will take much longer than sci fiction writers think. It costs $10,000 to put a pound of anything into near earth orbit. That is your weight in gold. It costs about $100,000 a pound to put you on the moon. And it costs $1,000,000 a pound to put you on Mars.
If you go to the FDA with a drug that's only meant to treat 50 people, and it's a 95 percent cure rate, you'll get your drug approved.
How is it possible that a process can be democratic when it comes by way of money? If there is money then it can be elected a senator, it can be elected a representative. Do you know how much it cost to be elected president of the United States? The amount has reached, billions of dollars, 2 billion, 3 billion, 4 billion dollars, that's how much a presidential campaign costs. How much does a senatorial campaign cost? It costs 80 to 90 million dollars; or the campaign of a representative, 40 to 50 million. Is that really a democracy?
If GE's strategy of investment in China is wrong, it represents a loss of a billion dollars, perhaps a couple of billion dollars. If it is right, it is the future of this company for the next century.
My parents had a software company making children's software for the Apple II+, Commodore 64 and Acorn computers. They hired these teenagers to program the software, and these guys were true hackers, trying to get more colors and sound and animation out of those computers.
If something's expensive to develop, and somebody's not going to get paid, it won't get developed. So you decide: Do you want software to be written, or not?
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