nsucurrent.com March 22, 2018

Tech Luminary Peter Thiel Parts Ways With Silicon Valley

16 February 2018, 04:53 | Ruby West

President Trump and Peter Thiel in December

Peter Thiel Donald Trump

One thing seems certain though: Peter Thiel is not a fan of Silicon Valley's culture in the wake of the election.

Thiel is relocating his home and personal investment firms to Los Angeles from San Francisco, while also dialing back association with the tech industry, according to The Wall Street Journal, which cited people familiar with his thinking.

Mr Thiel is to move his home and his investment firms about 350 miles to Los Angeles and reduce his investments in the technology...

Thiel's political leanings came under fire from many in Silicon Valley following the U.S. presidential election, due to his open support for President Trump.

That includes possibly resigning from the board of Facebook (NASDAQ:FB), according to the report.

After Thiel announced his support for Trump, Reed Hastings, the CEO of Netflix who is also a member of Facebook's board, wrote an email to Thiel saying that he demonstrated 'catastrophically bad judgment'. He had sold most of the rest of his stake in the company last November.

The billionaire co-founder of PayPal has become disaffected with what he sees as the left-leaning politics of the San Francisco Bay Area, a person familiar with his plans says.

Thiel co-founded payment service PayPal and is known for funding the Hulk Hogan lawsuit that led to the shutdown of online news site Gawker.

He has since spent the bulk of his professional life in the Bay Area.The longstanding libertarian recently said at a debate at Stanford University that Silicon Valley is a "one-party state".

Peter Thiel, Silicon Valley's most high-profile conservative, may be admitting defeat in Silicon Valley's culture wars and retreating to Los Angeles.

Thiel Capital spokesman Jeremiah Hall declined to comment. "That's when you get in trouble politically in our society, when".

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