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The negativity here is misled. Thiel made investments in companies which he thought might one day be of enormous value to society. Their current valuations, an
by Tycho 5y ago
The negativity here is misled. Thiel made investments in companies which he thought might one day be of enormous value to society. Their current valuations, and the size of his IRA, prove him right. We can thank early investors like Thiel for bringing this potential to fruition. And not only that, but Thiel has not consumed any of this well-earned wealth, instead leaving it untouched, hasn’t converted it into scarce goods and services, presumably because he didn’t see virtue in the gross materialism that consuming it would entail. These investments are heroic acts by Thiel.
- steve_adams_86 5y ago> heroic acts I don't understand - can you elaborate on why exactly this is heroic?
- Tycho 5y agoIn the sense that he developed his business acumen and foresight to an exquisite degree and was then able to take well-informed risks with his own resources that in the end produced a great outcome for society (and himself). Many people fail to develop their talents, or squander them, or are too over-cautious to use them, and they and society are the worse for it.
- steve_adams_86 5y agoThanks, appreciate you taking the time to explain.
- verall 5y agoYup, no companies are quite as valuable to society as Paypal and Palantir. I can think of few companies that have done more good for more people, and Thiel deserves every dime of that $5B for ratfucking the populace.