“There’s absolutely no bubble in technology.”
This is Thiel’s Web 2.0 version of the infamous quote from Web 1.0 uber-VC John Doerr, who said at the height of the last bubble that the Internet was then “underhyped” (which turned out to be pretty accurate overall, except to investors who lost their shirts in the bust).
The Stanford undergraduate and law school grad is in many ways a breath of fresh air for Silicon Valley–an entrepreneur (he was co-founder and CEO of PayPal, which he flipped to eBay in 2002 for $1.5 billion and personally pocketed $55 million in the transaction), a center square of a new kind of VC keiretsu (ex-PayPalers have their mitts in everything from Facebook to YouTube to Slide and more) and, best of all, someone willing to say deliciously wild things (he’s essentially John Doerr unplugged).
“If we got an offer from someone for $10 billion, we probably would listen to them,” said Thiel
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