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Paypal’s Peter Thiel gives up on Donald Trump

by on08 August 2017

Incompetent and headed towards a disaster

Friend to the free press, Peter Thiel, was one of the few Silicon Valley supporters of President Trump but now is doing his best to distance himself from the Prince of Orange.

 According to associates of Thiel who spoke anonymously to IBTimes,Thiel is now describing Trump’s administration as "incompetent" and one that may lead to a "disaster".

This was no new thing. Thiel has been privately been saying Trump was pants since the spring of 2016 to as recently as May. This contrasted to his public backing of Trump.

In one such conversation from early this year, Thiel expressed his doubt on Trump's presidency saying "there is a 50 percent chance this whole thing ends in disaster". He even questioned the "president's ability to be re-elected" in other conversations, describing the administration "incompetent".

Even as top executives from leading tech giants expressed concerns about Trump's election, Thiel remained his high-profile backer and became one of the only few outsiders to make into his inner circle. The Paypal founder also endorsed Trump's vision "to make America great again" at the 2016 Republican National Convention, which helped Trump secure nomination from his party.

What appears to be happening is that Trump’s relations with top Silicon Valley executives are deteriorating further. His immigration policies and move to pull the US from the Paris climate accords has already drawn criticism from top tech bosses including Tesla CEO Elon Musk. While these never did impress Thiel, it is possible that he is starting to feel a pinch on his bottom line as a result of Trump’s policies.

Last modified on 08 August 2017
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