Billionaire investor Peter Thiel, one of the few tech executives who supports Donald Trump, is packing his bags and leaving Silicon Valley. He is reportedly fed up with one-sided politics.
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 JournalOpens a New Window., which cited people familiar with his thinking.
“Silicon Valley is a one-party state,” Thiel said during a debate over politics and technology at Stanford University, his alma mater. “The other side doesn’t care for you, and your side doesn’t care for you because they don’t need to.”
A rare, but prominent conservative within Silicon Valley, Thiel’s relationship with the tech industry has soured, particularly at Facebook (FB). The venture capitalist, who has served on the company’s board of directors since 2005, was involved in a dispute with a fellow director due to his support for Donald Trump’s presidential campaign, according to the Journal’s sources, who also said a related confrontation over boardroom leaks with the social media firm’s founder and CEO Mark Zuckerberg last summer contributed to the strain. – READ MORE