Billionaire venture capitalist and Trump supporter Peter Thiel is reducing his involvement in the tech industry and relocating his home and business firms from Silicon Valley to Los Angeles, according to a new report.
"Silicon Valley is a one-party state", Thiel said during a debate over politics and technology at Stanford University, his alma mater. Thiel is examining the idea of setting up a conservative media outlet in Los Angeles.
"We need to engage more" rather than "telling Trump voters to just hurry up and die", Thiel said at the event.More news: Phillips 66 OKs $3.3 Bln Share Buyback from Berkshire Hathaway
Silicon Valley companies and tech workers overwhelmingly supported Democrat Hillary Clinton in the 2016 election. And more than one-third of conservatives said their right-leaning views kept them from doing their best work.
Last month, a former Google engineer who was sacked after circulating a memo about biological differences between men and women sued the company saying he was discriminated against as a white man with conservative political views.
Thiel faced heavy criticism past year after backing President Donald Trump in the 2016 election and serving on his transition team. He was the first outside investor in Facebook and made early-stage investments in Yelp, LinkedIn, and Quora. Thiel cofounded PayPal, which was sold to eBay for $1.5 billion in 2002.
After Gizmodo reported in May 2016 that curators of Facebook's "trending topics" section routinely suppressed conservative news, he convened a closed-door meeting between company executives and prominent conservatives.More news: Kanye West Settles $10 Million Insurance Claim with Lloyd's of London
Thiel is also considering resigning from the board of Facebook.
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'.
That action, if it occurs at all, does not appear to be imminent, but Thiel did sell 73% of his remaining stake in Facebook in November, pocketing nearly $30 million.More news: IPL 2018: Mumbai Indians to face CSK in opener