The Inca Empire operated with features of a modern totalitarian state. It had no private property, markets, or money. Citizens were subject to forced labor drafts, wore state-mandated clothing, and owed absolute obedience to the emperor, creating a repressive society that bred resentment among its conquered peoples.

The Spanish conquest was characterized by the systematic destruction of Inca art. Rather than preserving priceless golden artifacts like llamas and flowers, they melted them into standardized bars for easy shipment and accounting. This reflects a colonial mindset that prioritizes raw monetary value over cultural and artistic significance.

Conquistador expeditions were entrepreneurial ventures, not state campaigns. Leaders like Pizarro formed partnerships, raised private funds, and invested in high-risk "island hopping" operations hoping for massive returns. This model privatized both the risk of failure and the rewards of success, mirroring modern venture capital.

The conquest of the Americas was a highly legalistic endeavor. Conquistadors sought official royal charters, essentially operating under a franchise model. This legal cover was crucial not for legitimacy with the natives, but to protect their claims from rival Spanish adventurers, blending brute force with bureaucratic procedure.

After executing Inca emperor Atahualpa, the Spanish installed his brother as a puppet ruler. This co-opted the existing power structure, making the conquest seem like a restoration of the natural order to local chiefs and smoothing the transition of power.

The Spanish conquest of the Incas succeeded largely because they inserted themselves into an existing civil war. By siding with the southern Inca faction against the northern one, they gained crucial local allies, transforming the conflict from a foreign invasion into a complex, multi-sided war they could manipulate.

Francisco Pizarro's invasion of Peru was heavily influenced by the recent success of his cousin, Hernán Cortés, in Mexico. The fall of the Aztecs provided a tangible model for conquest, proving that small bands of conquistadors could topple vast empires. This precedent made it easier for Pizarro to secure funding and royal support.

The Spanish conquest was plagued by intense internal rivalries. The promise of gold in Quito sparked a race between three separate Spanish expeditions, led by Benalcátha, Almagro, and Pedro de Alvarado. This competition nearly erupted into open warfare, showing how the lure of wealth fractured the invading force.

By sending gold and sensationalized, best-selling accounts back to Spain, the initial conquistadors created a "gold rush" narrative. This attracted waves of new adventurers to Peru, ensuring a continuous supply of manpower that made the empire's eventual fall inevitable, regardless of early setbacks.