In this recent interview, Peter Thiel of Founders Fund makes several important points that I agree with:

1. Successful IT companies, which depend on talented people, capital, and the right governance structures, will increasingly emerge from global locations rather than primarily from Silicon Valley.
2. Investing in specific companies, led by the entrepreneurs behind them, produces better returns than investing in trends.
3. Companies that have the potential to be one of a kind, or in other words companies which are defensible, are better investments.

I couldn’t embed the video in this post, but you can watch it here.