The investor who bet on PayPal, bet on Facebook, and bet on Trump is now betting against Silicon Valley. I’m talking about Peter Thiel and his announcement that he’s leaving the Valley for Los Angeles. For years, Thiel has been ahead of the curve when it comes to investing and culture. And now he’s signaling possible trouble for Silicon Valley.
Thiel’s leaving because, in his words, Silicon Valley has gone from just liberal to a one-party state. They were always left-wing. Now they’re so radical that it’s hurt their ability to produce successful companies.
A city built on the principles of innovation and openness has sheltered itself from dissent. If they’re not open to new ideas, they can’t innovate, and if they can’t innovate, smart investors and entrepreneurs will find the places that can.Read More »