December 19 (UPI) — Billionaire Peter Thiel, one of the most controversial venture capitalists in the San Francisco Bay Area, recently said in an interview that Google is now too big to innovate. At the same time, Mr. Thiel blasted Silicon Valley for over-committing and cashing in.
In 2014, Peter Thiel’s book “From 0 to 1” sparked a domestic buzz. Now there are some people who cite his view that although we have the ability to make 100, we need to have the ability to innovate from 0 to 1. Mr Thiel’s client list of large data-processing firms includes the CIA and Credit Suisse.
The company also offers a unique perspective on potential trends in today’s world, sharing its insights in a recent interview. “Silicon Valley has always focused on fairly simple products” that can quickly grow into successful businesses that people don’t have to do complex or difficult things, says Mr. Thiel. “
He expressed disappointment that Silicon Valley was focused only on technology such as mobile phones, the Internet, data and computers. “There are many other areas where progress has been overlooked,” Thiel said. “Supersonic aircraft, underwater cities, green revolutions, agriculture, new drugs. “
“We have a variety of ways to change the world, not just in the data field, but very important,” he said. “I don’t think we’ve done enough in these areas. “
Mr. Thiel points out that the lack of innovation is part of the reason big tech companies such as Google, Apple, Facebook and Amazon have come under fire for data control, privacy violations and rising inequality.
“I think one of the challenges is that the big Silicon Valley companies have made a lot of promises about how much technology will change the world and make it a better place,” he said. He added: “But the question is how many promises they have made. “
Mr. Thiel cites Google’s commitment to building self-driving cars as an example. Ten years on, “it still doesn’t appear,” he said. He acknowledges that self-driving technology is undoubtedly an innovation, but also questions how much impact it has on society. “I would say that it’s more important to go from horse to car than to self-driving car. Thiel pointed out.
“There’s something wrong with Silicon Valley’s propaganda. He said.
Graphic: Thiel believes that big companies are always less innovative.
So why is innovation stagnant? Mr. Thiel, who co-founded PayPal, an online payment service with Tesla’s chief executive, believes it is because of the size of big tech companies. “If you have a very large company, it’s not always the most innovative. He said.
Mr Thiel argues that start-ups should focus on areas where there are few competitors. Such companies tend to end up dominating their respective fields. His own Palantir is a good example.
As an investor, Thiel has been looking for new small businesses. “I’m trying to find unique companies that have visionaries in the founders that are solving problems that haven’t been solved before,” he said. “
“Longevity/health is always fun because it’s a dramatic, spontaneous experience,” says Thiel. He added that we had been fighting cancer for 50 years, but “little progress has been made.”
Thiel was also Facebook’s first outside investor and has a seat on the social media company’s board. As an investor, he sympathizes with Sun Justice, chief executive of SoftBank Group.
“I think Sun is very aggressive,” Mr Thiel said when asked about SoftBank’s investment in WeWork, a shared office space start-up. “Sometimes radicalization is a good thing, sometimes it’s a bad thing. But it’s always easy to get back to the end. “
Photo: Sun Justice, Chief Executive Officer of SoftBank Group.
Maybe WeWork is too aggressive, he says, not enough of the business, maybe it’s “not technically strong enough” and “just a real estate company.” “People always criticize it afterwards,” Thiel said. On the other hand, I don’t think we are active enough or hard enough in many cases. We should try more. “
“That’s what SoftBank and Sun justice make me respect,” Thiel said. “
As an open supporter of U.S. President Donald Trump, many liberal Silicon Valley entrepreneurs are unfazed by Thiel. Mr. Thiel points out that economic stagnation is to blame for economic challenges facing the U.S. and Europe. “Mainly the younger generation in general is not doing better than their parents, ” he said.
“If GDP growth is 3 per cent in a situation of rising inequality, it is still better than zero gdp growth when inequality is reduced,” Mr Thiel said. “
To senators Elizabeth Warren and Bernie Sanders, among others, argue that wealth is redistributed, Thiel argues that “our government is not working very well.”
“In California or the United States, where I live, the government is particularly bad at spending money, ” Thiel said. He points to the shortcomings of California’s public schools.
“I always say, you know, if the government does a better job of spending money, I’m willing to pay more tax. He said.