Peter Thiel: Bubbles have been catastrophic

Billionaire Peter Thiel says the insiders have been getting it wrong for a long time.

Peter Thiel: The Insiders Have Been Getting It Wrong

By Business Leaders FOXBusiness

Donald Trump may not be perfect, but tech entrepreneur Peter Thiel says the Republican presidential nominee can fix the country.  

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While speaking at the National Press Club on Monday in Washington, D.C., the Silicon Valley contrarian defended his support for Donald Trump. 

“The insiders have been getting it wrong for a long time,” he said. “They were asleep at the switch when we had the dotcom bubble in the ‘90s. They were even more asleep, I could argue, when we had the housing bubble in the last decade. And the insiders have somehow been doing very micro policy adjustments than letting these massive bubbles inflate on their watch.”

The former PayPal CEO also said that his endorsement has generated more support in Silicon Valley for Trump.

“One of the strange things of doing this, it has surfaced not a large number, but a small number of those people, who of course all feel like they can’t say it in public…and are happy that I’ve done it. They’ve sort of been conjured out of the ether,” he said.

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