Something Ventured -- Silicon Valley Podcast

Max Chafkin on Peter Thiel: “The Contrarian: Peter Thiel and Silicon Valley's Pursuit of Power”

Jun 17, 2022
Max Chafkin, a tech reporter for Bloomberg Businessweek and author of “The Contrarian,” dives deep into Peter Thiel's controversial role in Silicon Valley. He explores Thiel's evolution from a PayPal co-founder to a major political player, revealing the dualities and contradictions in his beliefs. Chafkin discusses the ethical dilemmas of Palantir's data mining and critiques the broader implications of technology and power dynamics in this age, including the rise of Bitcoin and its impact on global politics.
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ANECDOTE

PayPal Launchpad

  • Peter Thiel first rose to prominence by co-founding PayPal with Max Levchin and others from Stanford.
  • PayPal sold to eBay and gave Thiel the capital and network to relaunch as a prolific Silicon Valley investor.
INSIGHT

Cohesion Creates Lasting Power

  • The PayPal 'mafia' created power through ideological cohesion and mutual support, not just money.
  • That loyalty and shared libertarian bent amplified their cultural and business influence across tech.
ANECDOTE

Early Facebook Bet And Quick Exit

  • Thiel invested early in Facebook, aligning with its network-driven blitzscaling growth strategy.
  • He later sold much of his Facebook stock soon after the IPO and ran a successful hedge fund in parallel.
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