Subtitles section Play video Print subtitles I'm doing a very short introduction for Peter Thiel whom you already saw on stage already but a little bit on the background meaning I think most of the facts are about Peter are very well known I thought myself if I if I would have one sentence to introduce Peter just one sentence then I would say I proudly welcome the guy who revolutionised my personal dating life by financing Facebook itís an amazing tool for dating if you haven't realised that but as I have a little bit more time some more maybe more important facts about Peter are I think I can say heís a legendary investor entrepreneur and as you also heard he is a very good philanthropist he founded Pay Pal in one998 and sold it already 4 years later in 2002 to eBay for some billion US dollars so pretty successful he then founded Palantir you will hear the name Iím pretty sure much more often in the next years 2004 which is a ground breaking platform technology to analyse big data and he was as I already said the first yeah the first investor in Facebook besides that you think okay he might be occupied a lot and have not a lot of time no he founded or started 2 other funds Mithrill more for growth investments and the Founders Fund for internet investments and he also started a very successful hedge fund Clarium Capital so very busy business life aside of that as you heard heís very active in philanthropy and also politically very active why I really think heís a great great guest of DLD is because maybe bottom line he's a great thinker heís one of the smartest guys Iíve ever met heís original yeah heís not just telling you what you have heard in one0 other speeches maybe before heís out of the box heís maybe controversial politically whatever so it's not mainstream what heís saying but I think this is the main reason why I will enjoy his speech enjoy thank you very much Christian I wanted to just see where the presentation here is I wanted to talk a little bit today about about sort of technology globalisation and the question of how how we actually sort of make the 2onest century a much better sense we sort of want to make it sort of share a few broad thoughts on this question and then leave as much time as possible for some questions and answers and make it as interactive as possible now letís see I think when one when one looks at the at the 2onest century there are there are probably 2 major themes that one has going on the globalisation and the technology and what I want to underscore is that I think these are 2 very different kinds of things in a sense of globalisation you can think of is horizontal or extensive growth and it involves copying things that work and I think of technology as vertical or intensive growth and it involves doing new things and in some sense we need to do some of both in the in the 2onest century there's a thereís a sense in which we're in a world that's very focused on globalisation but I think much less focused on a on technology and in some ways this is already reflected in in the division of the world between developing and developed worlds the developing countries are those countries that will somehow converge with the developed world through globalisation and so a place like China has a very straightforward plan for the next 20 years and it is basically to copy things that have worked in the developed world there are things China can copy and improve it may skip some steps so maybe you don't need to build out a full land based phone system you go straight to mobile phones thereís some things you can do better but for the most part itís very very straightforward but for the developed countries the question of how we actually have progress I think is a very different one and I think we the question of how the developed world gets better is one that is not very often asked in these in these forums and itís one that I want to at least try to pose today and I think that the developed developing world dichotomy while it's on the one hand very pro globalisation believes in a convergence theory of globalisation it is also implicitly somewhat sceptical of technology does not believe that technology will so radically transform the world and in some ways it has a somewhat defeatist pessimistic attitude where the developed world is the part of the world where nothing new is going to happen and that is why sort of I picked this somewhat strange sounding title of developing the developed world because it's something I think we don't ask enough about how to make that happen you know very thematically if we think about the developed world and how progress and technology can happen I want to suggest that there are sort of 4 basic scenarios and I think these are the 4 basic things that can happen with technological progress in the 21st century the first one is that it continues but at a decelerating rate thereís some sort of we we make some progress incrementally but it gradually slows down we eventually run out of new ideas the rest of the world