Billionaire investor Peter Thiel is moving his personal investment firms from San Francisco to Los Angeles and has also discussed the possibility of resigning from the board of Facebook, people familiar with his thinking told The Wall Street Journal.
Mr. Thiel, who has ties to dozens of startups, intends to reduce his direct role in the Silicon Valley tech industry. He is frustrated by left-leaning politics of the San Francisco Bay Area, and he has grown increasingly pessimistic about growth opportunities for tech business due to greater risk of regulation, the sources told WSJ.
Mr. Thiel recently criticized tech culture, which he sees as increasingly intolerant of conservative political views.
"Silicon Valley is a one-party state," he said in January at a debate about tech and politics at Stanford (Calif.) University. "That’s when you get in trouble politically in our society, when you're all in one side."
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