Photographer: Kiyoshi Ota / Bloomberg
Photographer: Kiyoshi Ota / Bloomberg
Peter Thiel is “pro-crypto” and “maximalist pro-Bitcoin”, but he also believes that cryptocurrency could undermine America.
Thiel, the venture capitalist and conservative political donor, called on the US government on Tuesday to tighten regulations on cryptocurrencies. The statements seemed to be a change of heart for Thiel, who is a major investor in virtual currency projects as well as cryptocurrencies.
“I wonder if Bitcoin should be considered at this time [of] in part as a Chinese financial weapon against the United States, ”Thiel said during an appearance at a virtual event for members of the Richard Nixon Foundation. “It threatens fiduciary money, but it especially threatens the US dollar.” He added: “[If] China’s long Bitcoin, perhaps from a geopolitical perspective, the US should ask a few tougher questions about exactly how this works. ”
He was joined by former Secretary of State Mike Pompeo and former National Security Adviser Robert O’Brien. The conversation between Thiel, who has frequently criticized American companies doing business with Beijing, and two former members of the Trump administration, focused largely on US-China relations. It was moderated by Hugh Hewitt, the radio presenter and executive director of the Nixon Foundation. Forbes previously reported some details about the event.
During the discussion, Thiel expanded on previous criticisms of Google Alphabet Inc., which he accused of working against American interests. in a 2019 speech. On Tuesday, he added that he pressured employees of the company’s artificial intelligence division if their technology was used in the Chinese region of Xinjiang, where the US claims that the country detained ethnic Uighurs in internment camps, which some US officials said genocide. The answer, Thiel said, was, “Well, we don’t really know – and we don’t ask any questions.” Thiel continued: “You have this almost magical thought that, pretending that everything is fine, that’s how you engage and have a conversation.” China has denied the abuse of ethnic and religious minorities in Xinjiang, and Google has said it does not work with the Chinese military.
Thiel, who left Silicon Valley dramatically in 2018, complaining that it has become a “one-party state,” did not limit himself to criticizing Google. He suggested that US control of US technology companies should include Apple Inc., noting that the company manufactures most of its devices in China, where labor standards are looser than in the US and Europe. “Apple is probably the one who [tech company] this is a real structural issue ”for US interests, he said. “Apple is the one that has real synergies with China.”
Thiel also suggested that the US should pursue India by banning TikTok, the social app owned by Chinese company ByteDance Ltd., which he called “this kind of incredible leaking of human data.” Thiel noted that if banned, TikTok would probably be replaced with similar applications, as happened in India. “I don’t think it was an extraordinary loss,” he said.
TikTok’s comments match the messages from Facebook Inc., where Thiel is on the board. Facebook has described TikTok as a threat to US values. But Thiel also criticized Facebook himself for feeding what he called “awakened politics,” noting that the company refused to take a firm stand on Hong Kong protests last year. “There were more Facebook employees who were born in China than they were born in Hong Kong,” he said. “And the Chinese people actually said that, you know, it was just Western arrogance and [the company] shouldn’t take the side of Hong Kong … And the rest of the Facebook employees were left out. ”
Thiel also criticized Facebook – along with other technology companies – for “dismantling President Trump’s platform,” a reference to the company’s decision. to ban President Donald Trump to incite the January 6 storm of the US Capitol. “It was a total censorship,” Thiel said. “And when you do it with the president of the United States, you feel like you’ve really crossed a kind of Rubicon.”
Appearing with Pompeo could have implications for the 2024 presidential race. The former secretary of state is widely seen as a possible Republican nomination candidate – and Thiel has signaled a desire to support figures closely aligned with Trump. He was a major supporter of Trump in 2016 and recently donated $ 10 million to a PAC that supported the potential Senate candidacy of JD Vance, an author and conservative political figure who previously worked at a venture capital fund. supported by Thiel.
(Updates match the context and add videos.)