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Investor Peter Thiel Is Not Scared of What Trump Presidency Mean For The Tech Industry

By Jiran , Nov 11, 2016 03:29 AM EST
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PayPal co-founder and investor Peter Thiel received criticisms for supporting then US Presidential candidate Donald J. Trump. The tech industry, particularly the Silicon Valley is not really fond of Trump. Thiel is probably the only person from the industry who is not scared of a Trump presidency. Now, since Trump is already president-elect, the tide might have turned for Thiel.

Thiel's Loyalty To Trump

Thiel seemed to be vindicated once Trump was officially the president-elect. His support had been constant despite the issues President-elect Trump had encountered during the campaign. According to The New York Times, Thiel did not shy away from expressing his excitement for Trump.

He said that a page in the book of history has turned. Thiel also said in the interview that may be problems can now be seen and understood from a new perspective. Unlike most people thought, Thiel predicted that Trump would win the presidential election.

Thiel's Knew Trump Would Win

The media, polls and the whole world expected a Hillary Clinton win. Thiel acknowledged this and said that his odds were very badly underestimated. He also pointed out what has already become evident after the result.

Thiel mentioned that Trump voters were not captured well by the polls. A lot of analysts have agreed that a lot were certain that Clinton was going to be the next US President. The electoral votes eventually have proven this wrong. The media have already tagged this as the "biggest upset in US political history".

Thiel added that what happened is very similar to the Brexit vote in the UK. The polls did not reflect the result.

Thiel's Possible Role In Trump's Administration

The New York Times further reports that Thiel has no formal role in Trump's administration. However, he said he will try to help the president [elect] in any way he can. Thiel cleared that he does not have a plan of leaving the Silicon Valley for Washington D.C.

Amazon, Apple, Facebook, Google, Microsoft and other tech companies have yet to congratulate or comment on Trump's win. According to TechCrunch, among the policies that might be unfavorable for the tech industry include that in the global trade, immigration, renewable energy and cybersecurity.

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