Peter Thiel explains the importance of a powerful story

Peter, what are you looking for today in an entrepreneur? To back? We're looking for companies where there is a very powerful narrative around the company. Obviously, you want people who are very smart, very talented. They're looking at a good business. But then beyond that, there has to be an ability to attract a number of other talented people, and that's how you sort of really build the critical mass that builds these great businesses. Normally, when we find talented people with a powerful story, that's almost enough for us to invest. I think that's actually very, very rare at this point. But you have to ask the question, what will motivate the 20th or 30th or 40th employee to join this company? It's probably not financial, and it's probably not fame or anything like that. It has to be that they believe that there's something incredibly powerful and valuable about what it's doing.