While all entrepreneurs are studying 'how to do better than their competitors', Silicon Valley's most rebellious billionaire Peter Thiel is asking: 'Why is your competitor worth imitating?' From investing in Facebook—the social media that amplifies human desire to imitate—to specifically targeting 'businesses that banks dare not touch' to create a crypto bank, his adventurous moves reflect his business philosophy: wealth lies deep within the lonely mountain guarded by dragons—most people wouldn't even dare to seek it. Peter Thiel's business philosophy starts from the 'theory of mimetic desire'. 1⃣️ Foundational Thought: René Girard's Theory of Mimetic Desire To understand Peter Thiel's business philosophy, one must return to his most influential teacher, René Girard. Girard's theory of 'mimetic desire' posits that the essence of human behavior is the imitation of others' desires, leading society into homogeneous competition. From this, Thiel distills the core idea: 'Do not copy your neighbor'—opportunities exist in the dark areas that no one is watching. 2⃣️ Mythical Naming Metaphor System This philosophy is intuitively reflected in Thiel's obsession with mythical symbols: Thiel and his investment in Luckey both have a fondness for 'The Lord of the Rings'. Luckey's defense technology company Anduril is named after the sword used by Aragorn. Thiel's Palantir is a large software company (the seeing stone from 'The Lord of the Rings'). And Thiel's Mithril Capital, established in 2012, is named after a precious metal mentioned in the book. Valar Ventures/Rivendell Capital (Middle-earth and the Elven sanctuary) Erebor (the Lonely Mountain): the wealth of dwarves is hidden deep within the untouched Lonely Mountain. 3⃣️ 'Institutional-level Leapfrogging' Practice of Erebor Erebor's differentiation lies in its application for a full-function national bank license, explicitly including 'stablecoin trading and custody' in its main business scope. This naturally qualifies it for interstate operations and comprehensive compliance, expanding its clientele beyond the digital asset industry to include AI, defense, biotechnology, and other sectors considered 'high risk' by traditional banks. Competitive Dimension: not being a filler in the crypto ecosystem, but reconstructing the banking infrastructure itself—while peers compete for existing tracks, Thiel is leapfrogging at the institutional level. From investing in PayPal and Facebook (mimetic desire) to investing in the crypto bank Erebor, this philosophy rejects 'improving under the spotlight' and is dedicated to 'creating in the dark'. Just as the naming of Erebor suggests: wealth is hidden deep within the Lonely Mountain guarded by dragons.

The picture is drawn by @lovart_ai, praise.