"Thiel’s remarks were largely motivated by his understanding of the tech sector." Facebook is not in the tech sector. They're in, I don't know, some kind of n

"Thiel’s remarks were largely motivated by his understanding of the tech sector." Facebook is not in the tech sector. They're in, I don't know, some kind of nonsense social sector. Technology is more incidental to their business, just like with Craigslist, eBay, Foursquare, YouTube, Reddit, and so on... all these sites eventually had serious technical challenges, after they successfully filled a social need. Not the other way around. And that doesn't mean you're going to continue to be successful. Just look at MySpace, LiveJournal, Friendster, Digg, delicious, and so on...