The news that billionaire investor Peter Thiel is decamping to Los Angeles to escape the stifling political conformity of Silicon Valley won't shatter the republic, but pillars of the Valley would be wise to heed its warning.
Thiel is relocating his home and personal investment firms to Los Angeles from San Francisco, while also dialing back association with the tech industry, according to The Wall Street Journal, which cited people familiar with his thinking.
The local City News Service reported Thursday that Thiel, whose net worth is 2.5 billion U.S dollars by Forbes estimates, planned to permanently move himself to a 7,000-square foot (650 square meters) home overlooking the Sunset Strip in Hollywood, a house he purchased six years ago.
Peter Thiel, the technology investor who backed Donald Trump's campaign for president, is to leave Silicon Valley in an apparent rebuff to the region's left-leaning politics.
But one of his firms, the venture capital firm Founders Fund, will remain in San Francisco, the report said.
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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'.
Thiel also funded a massive libel lawsuit on behalf of former wrestling star Hulk Hogan that shut down the website Gawker, years after Gawker disclosed that Thiel is gay.
"Silicon Valley is a one-party state", Thiel said at an appearance last month at Stanford University. "That's when you get in trouble politically in our society, when".