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How CEO Alex Karp jokingly says Palantir is like a 'cult' — 'with no sex and very little drugs'

17 December 2024 at 11:05
Palantir CEO Alex Karp
"My success has been getting Palantirians to believe that my ideas are theirs," Palantir CEO Alex Karp said.

Andrew Harnik/Getty Images

  • Palantir CEO Alex Karp joked the software giant was like a "cult" β€” minus the sex and drugs.
  • He says Palantirians tend to be "snobby" about their intellect and aren't easily persuaded by orders.
  • "My success has been getting Palantirians to believe that my ideas are theirs," Karp says.

Palantir CEO Alex Karp acknowledged that working at the company can feel a bit like a "cult. Employees share a like-minded drive that can occasionally raise eyebrows from those outside, he said.

"It's a rare cult with no sex and very little drugs β€” and we're not poisoning anyone," he joked during an interview with investor Stanley Druckenmiller. Karp spoke about his coming book, "The Technological Republic."

Cofounder Peter Thiel is an "artist" when it comes to appointing leaders, Karp said, and attracting top engineering talent has always been the company's strong suit.

The founding team started by calling their smartest friends, and the talent pool quickly compounded. Early employees tended to be "very high-mission, very high rigor, very low pay, very high-equity β€” we lived together," Karp said. "It just was a really cool vibe, and there was nothing like it."

The company was "hated" by the outside venture capital world, Karp said β€” but it was a welcome dynamic that reminded him of his childhood. Karp's parents were unusual, but it was a happy home. (He's previously described them as hippies who took him to protests.) And if outsiders considered his parents "freaks," Karp said, that just made them "even happier."

Today, Palantirians are "snobby" when it comes to intellect β€” though not about where they went to school, Karp said. They're also "not convinced by orders." The culture is one of low authority that prizes self-starters.

"My success has been getting Palantirians to believe that my ideas are theirs," Karp said, adding that lateral hiring can be difficult at the company, where respect is hard-earned.

It's also a relatively small team of 3,600 employees, and Karp doesn't harbor ambitions of massively scaling the head count β€” thanks in no small part to AI, which has meant "you can power whole industries with 100 people," he said.

Palantir did not immediately respond to a request for comment from Business Insider.

Palantir has had an explosive year, with its stock up around 350% so far this year. In a recent earnings call, Karp attributed the company's growth to an AI revolution and said its success had silenced longtime critics.

Read the original article on Business Insider

Peter Thiel says he wouldn't take a 'full-time' Trump administration job: 'I'd be depressed and crazy'

13 December 2024 at 11:53
Peter Thiel and Donald Trump
Thiel said that after working in the tech industry, he would find it too frustrating to work for the government.

Nordin Catic/Getty Images for The Cambridge Union; Saul Martinez for The Washington Post via Getty Images

  • Peter Thiel has been a major Trump supporter and spent big to help elect JD Vance to the Senate.
  • He said he's not interested in working in Trump's new administration β€” at least full-time.
  • He said politics is important but he'd be "depressed and crazy" if he thought about it all the time.

Peter Thiel was one of President-elect Donald Trump's first major supporters in Silicon Valley, donating more than $1 million to groups that supported Trump's 2016 campaign.

However, that doesn't mean he's interested in actually serving full-time in Trump's second administration.

"I'm not going to do anything on a full-time basis," Thiel said on "Piers Morgan Uncensored," an online talk show. "You can't go full-time into government if you've been in a tech position like I have. It's just β€” the sort of things you have to be realistic about, what you can and can't do."

As Trump has begun staffing his new administration, he's plucked a handful of figures from tech world. They include entrepreneur and investor David Sacks, who's set to serve as an AI and crypto czar in the new administration, and Jacob Helberg, who works at Palantir and was recently nominated to a role at the State Department.

Elon Musk is perhaps the biggest tech-world figure who's working with Trump these days. Along with Vivek Ramaswamy, Musk is set to co-lead the "Department of Government Efficiency," a new initiative to root out wasteful spending in the federal government. It isn't a full-time role for Musk, and DOGE won't have any formal authority on its own.

As Thiel offered cautious praise for DOGE, Morgan asked him whether he might consider an "Elon-style role" with Trump.

"It's just not my area of comparative advantage," Thiel said. "I think politics is very important… I enjoy going on your show, thinking about it every now and then. If I spent my whole life thinking about this, man, I'd be depressed and crazy."

Despite Thiel's apparent lack of interest in working in the government himself, he's had a significant impact on politics in recent years.

Thiel was instrumental in the political rise of Vice President-elect JD Vance, pouring millions of dollars into a super PAC that supported the Ohio senator's 2022 campaign.

Another close associate of Thiel, Blake Masters, is reportedly in the running to lead the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) under Trump.

Read the original article on Business Insider

'You should never bet against Elon': Peter Thiel says Musk understands risk-taking completely differently from other people

13 December 2024 at 04:07
Split screen image with Elon Musk's face on the left and Peter Thiel on the right
"You should never bet against Elon," said his former business partner Peter Thiel.

LEON NEAL/POOL/AFP via Getty Images

  • Peter Thiel has praised Elon Musk's attitude to risk and said it's a bad idea to bet against him.
  • The world's richest person understands risk in a way that most people don't, Thiel said.
  • "Peter is right on all counts," Musk tweeted in agreement with some of Thiel's comments.

Elon Musk's entry into politics has caused some trepidation in Washington circles.

But his former business partner and fellow billionaire, Peter Thiel, has a message for the DC establishment: "You should never bet against Elon."

Thiel discussed Musk's unique skill as an entrepreneur during an appearance on the latest episode of the talk show Piers Morgan Uncensored, which was released Thursday.

Thiel said that in the 2000s Silicon Valley just viewed Musk as someone building two "super crazy" companies β€” his car company, Tesla, and rocket company, SpaceX.

"If only one of them had succeeded, one might still have said that it was just extraordinarily lucky. The fact that, to first approximation, both have wildly succeeded, tells us that Elon knows something about risk that the rest of us don't."

It appears to be a "high-wire, crazy, risk-taking act" from the outside, but his methods somehow work, he added.

Thiel said he has asked Musk before about how he approaches risk.

"I think there is something he understands about it that we don't. It's hard to articulate. I don't know if he can articulate it."

The two billionaires formed PayPal in 2000 after merging their two companies. Thiel has since cofounded Palantir, founded the VC fund Founders Fund, and started the Thiel Fellowship. He is an outspoken libertarian and generous donator to the Republican Party.

peter thiel elon musk early paypal
Peter Thiel (left) and Elon Musk (right) are both members of the PayPal Mafia.

AP

Musk's business strategies have come under scrutiny since he was appointed to head the Trump administration's new Department of Government Efficiency, or DOGE.

His goal is to significantly reduce the federal budget, cutting as much as $2 trillion in spending.

"The strong consensus view in the DC establishment is that this is going to go nowhere. That it's just absolutely impossible to fix things, and this is going to be a very frustrating dead end," said Thiel during the interview.

"The alternate view, I would say, is you should never bet against Elon," he said.

"Peter is right on all counts," Musk tweeted in response to the interview clip on DOGE.

Musk's businesses have seemed to thrive since the election as investors and analysts wager he will continue to play a leading role in the new administration in a phenomenon dubbed the "Trump bump."

This week, SpaceX, Musk's space transportation company, was valued at $350 billion, doubling its worth in a year. Tesla has also enjoyed a major rally, with shares surging more than 60% this year.

Read the original article on Business Insider

The PayPal Mafia includes tech titans like Elon Musk, Peter Thiel, and Reid Hoffman. Here's where its members are now.

Peter Thiel
Peter Thiel, left, and Elon Musk, are two members of the so-called "PayPal Mafia."

Associated Press

  • A group of early 2000s PayPal employees and founders came to be known as the "PayPal Mafia."
  • The members have all gone on to impact Silicon Valley by founding and developing major companies.
  • The group includes Elon Musk, Peter Thiel, Reid Hoffman, and the founders of both YouTube and Yelp.

What do the founders of YouTube, Yelp, Tesla, and LinkedIn have in common?

Apart from creating some of the biggest companies in tech, they all share a common rΓ©sumΓ© line item: they've all worked at PayPal.

Many of PayPal's early employees went on to become major names in tech and the venture capital world, founding, funding, and otherwise developing successful companies. This elite group came to be known as the "PayPal Mafia," a nickname that gained popularity after Fortune used the term in a 2007 piece alongside a photo of some of the members dressed in gangster attire.

Members of the group include Elon Musk, Peter Thiel, Reid Hoffman, and over a dozen others. Here's a rundown of the most prominent members of this exclusive group and what they're up to over two decades later.

Peter Thiel: PayPal's founder and the so-called "don" of the PayPal Mafia
peter thiel elon musk early paypal
Peter Thiel in 1999.

AP

Peter Thiel cofounded the company that would become Paypal β€” called Confinity β€” in 1999 alongside Max Levchin and Luke Nosek. Confinity was launched as a developer of security software for hand-held devices like the PalmPilot, but it later pivoted toward digital money transfers.Β 

Thiel served as CEO of PayPal until October 2002, when eBay acquired the company for $1.5 billion. Thiel's 3.7% stake was worth a $55 million, according to SEC filings.

Thiel went on to cofound Founders Fund, a venture capital firm that has helped launch companies like SpaceX and Airbnb.
peter thiel
Thiel is now a billionaire.

Chip Somodevilla/Getty Images

Thiel, now a billionaire with a net worth of $15.9 billion, according to Bloomberg, cofounded the big data analysis firm Palantir in 2003. He was the first major outside investor in Facebook and contributed early funding to Yelp and LinkedIn, along with a number of other ventures launched by his PayPal peers. Thiel's also a partner of Founders Fund, a venture capital fund based in San Francisco.

Thiel has also drawn criticism in recent years for his support of President Donald Trump and for secretly funding Hulk Hogan's lawsuit against Gawker Media, which resulted in the company shutting down Gawker and selling the company's assets.

After facilitating talks between Trump and now Sen. JD Vance, Thiel gave a record-breaking $15 million to Vance's campaign, the largest donation ever given to a single senate candidate.Β 

Thiel later told The Atlantic he was taking a break from politics. Business Insider later reported that he served as an FBI informant.

While his and Trump's relationship has reportedly soured, Trump's recent announcement of VanceΒ as his vice president pick has put Thiel back to playing kingmaker.

Max Levchin: PayPal cofounder and Chief Technology Officer.
Max Levchin
Max Levchin was a cofounder of PayPal.

Ben Margot/AP

Max Levchin is sometimes called the "consigliere" of the PayPal Mafia β€” in "The Godfather," a consigliere is an advisor to the boss.

Levchin made significant contributions to PayPal's anti-fraud efforts. Together with PayPal technical architect David Gausebeck, he helped create the Gausebeck-Levchin test, an early version of a CAPTCHA for commercial applications.

Levchin now serves as the CEO of Affirm.
Max Levchin
Levchin is now CEO of Affirm.

Getty

After PayPal was bought by eBay, Levchin founded a media-sharing service called Slide that was later bought by Google. He was also an early investor in Yelp β€” at one point he was the company's largest shareholder β€” and he served asΒ chairman of Yelp from its founding in 2004 until July 2015.

He founded fintech company Affirm, which allows consumers to finance online purchases at the point of sale and pay for them over time. Affirm went public in 2021, raising $1.2 billion in its IPO. Levchin is also the chairman of Glow, a fertility-tracking app that helps users improve their odds of conceiving.

Ken Howery: PayPal cofounder and CFO from 1998 to 2002.
Ken Howery
Howery served as PayPal's CFO.

Patrick McMullan/Patrick McMullan via Getty Images

After eBay bought PayPal, Howery stayed on as eBay's director of corporate development until 2003. After PayPal's acquisition, he served as cofounder and partner of Founders Fund alongside Peter Thiel.

Howery recently served as US ambassador to Sweden.
Ken Howery
Princess Madeleine of Sweden and Ambassador Ken Howery.

Bennett Raglin/Getty Images for the World Childhood Foundation

He was appointed by former President Trump in January 2019 and confirmed in September of that year. He also donated $1 million earlier this year to America PAC, a pro-Trump super PAC created by fellow PayPal mafia member Elon Musk.

Howery is active in several nonprofits and serves as a founding advisor to Kiva, an organization that facilitates loans to low-income entrepreneurs. Kiva was founded in part by Premal Shah, PayPal's former product manager.

Howery is reportedly still good friends with Elon Musk.Β 

Elon Musk: founder of (the other) X.com, which merged with Thiel's Confinity to become PayPal
peter thiel elon musk early paypal
Elon Musk pictured in the early days of PayPal.

AP

In 1999, Elon Musk founded a payments company called X.com, which merged with Thiel's Confinity in 2000. He briefly served as CEO of PayPal before he was ousted by the board in September 2000 and replaced with Thiel. But as the company's largest shareholder, he still walked away from the PayPal sale to eBay with a cool $165 million.

Musk is currently the world's richest person.
elon musk
Musk now juggles multiple companies, including Tesla, SpaceX, and X, formerly Twitter.

Patrick Fallon / Reuters

Perhaps the best-known of all the members of the PayPal mafia now, Musk's estimated net worth is $362 billion.

Since his PayPal days, Musk has moved on to oversee companies like Tesla, SpaceX, the Boring Company, and Neuralink. He also bought Twitter and renamed it X, after buying back the X.com domain name from PayPal.Β 

Musk, who has been a vocal supporter of Trump's 2024 presidential campaign and donated more than $200 million to Republican election efforts, will also co-lead the newly created Department of Government Efficiency alongside former Republican presidential candidate Vivek Ramaswamy, Trump announced after winning the election.

Luke Nosek: PayPal cofounder and vice president of marketing and strategy.
PayPal
Nosek was also a PayPal cofounder.

Thomson Reuters

Nosek was also reportedly the person who clued in Peter Thiel to cryogenic preservation, which Thiel has since invested in heavily.

Nosek explored angel investing.
Luke Nosek
Nosek is a SpaceX investor.

David M. Benett/Getty Images for Netflix

In 2005, Nosek joined Thiel and Howery as a partner at Founders Fund. In 2017, Nosek left Founders Fund to launch investment firm Gigafund, which helped raise money for SpaceX.

Nosek was also the first institutional investor in SpaceX and is a board member. He also joined the board of ResearchGate, a platform where scientists and researchers can ask questions, follow topics, and review one another's papers.

Roelof Botha: PayPal's director of corporate development, vice-president of finance, CFO
Roelof Botha
Botha started at PayPal as director of corporate development.

Paul Zimmerman/Getty Images for TechCrunch/AOL

Botha went to school to be an actuary. He said he never planned to get into tech, but when he saw the opportunity in Silicon Valley, his intuition told him it was where he needed to be.

He started as PayPal's director of corporate development, went on to become vice-president of finance, and later served as CFO.

Botha is now a partner at venture capital firm Sequoia Capital
Roelof Botha
Botha is a major tech investor.

Steve Jennings/Getty Images for TechCrunch

Botha is now considered one of the top tech investors in the world.

Sequoia Capital has funded tech giants like Apple, Google, YouTube, and Instagram.Β 

Botha as served on the board at more than a dozen companies, including Square, EventBrite, Weebly, Tumblr, Instagram, YouTube, as well as 23andMe, which he resigned alongside the rest of the board in September over CEO Anne Wojcicki's proposal to take the company private.

Reid Hoffman: board of directors at PayPal, COO
Reid Hoffman
Hoffman started on PayPal's board of directors.

Tony Avelar/AP

LinkedIn cofounder Reid Hoffman served on the board of directors when PayPal was founded.

He eventually joined the company full-time as PayPal's COO. In a New York Times interview, Peter Thiel referred to Hoffman as PayPal's "firefighter in chief," noting that there were many fires that needed putting out in the company's early days.

When PayPal was acquired by eBay, Hoffman was the company's executive vice president.

Hoffman cofounded LinkedIn and is one of Silicon Valley's most prolific angel investors.
reid hoffman
Hoffman cofounded LinkedIn in 2002.

Kelly Sullivan/Getty Images

Hoffman was an early investor in Facebook, Flickr, Care.com, and many more. In 2017 he joined the board of Microsoft.

Hoffman has coauthored several books on startups and professional development. He hosts the "Masters of Scale" podcast, on which he interviews founders about how they launched and scaled their companies, and is a partner at VC firm Greylock Partners. He was an early investor in OpenAI and used to serve on its board, and cofounded Inflection AI.

Hoffman has also recently criticized business leaders, including his fellow PayPal mafia members, for supporting Trump.

Β 

David Sacks: PayPal COO
Yammer CEO David Sacks at Launch Festival 2013
Sacks served as PayPal's COO.

Owen Thomas, Business Insider

Like Hoffman, Sacks also served as COO at PayPal. Previously a management consultant for McKinsey & Company, David Sacks joined PayPal in 1999.

After PayPal was bought by eBay, Sacks produced and financed the box office hit "Thank You For Smoking," which would go on to be nominated for two Golden Globes. In 2006 he founded Geni.com, an online tool for building family trees.

Β 

Sacks founded several companies, became an angel investor, and was named Trump's AI and crypto 'czar'
David Sacks
Sacks went on to become a major investor.

REUTERS/Beck Diefenbach

In 2016, Sacks was briefly interim CEO at Zenefits, an HR software firm that was plagued by scandal, including allowing unlicensed brokers to sell insurance to its customers. In 2017, Sacks cofounded the early-stage investment firm Craft Ventures.Β 

Sacks is a serial entrepreneur and investor, with angel investments in Airbnb, Postmates, Slack, and many more.Β 

He's also a member of Elon Musk's inner circle and, like the Tesla CEO, is an avid Trump supporter, hosting a fundraiser for the president-elect at his home. Sacks reportedly urged Trump personally to choose Vance as his running mate, whom he was introduced to by fellow Paypal mafia member Thiel.

Trump said in December that he is appointing Sacks as his White House AI and crypto czar.

Β 

Β 

Β 

Jawed Karim, Chad Hurley, and Steve Chen met at PayPal during its early days.
YouTube founders
Steven Chen, left, and Chad Hurley.

Noah Berger/AP

Karim and Chen were engineers, while Hurley was a web designer.

In 2005, the trio launched the video-sharing platform YouTube. Karim uploaded the platform's very first video, "Me at the zoo," an 18-second clip of Karim in front of the San Diego Zoo's elephant exhibit. It's been viewed over 292 million times.

Today, Karim, Hurley, and Chen remain active entrepreneurs and investors with a hand in projects from finance to music.
Chad Hurley YouTube
The trio went on to become investors.

David Buchan/Getty Images

Karim launched venture fund YVentures in 2008, through which he invested in Palantir, Reddit, Eventbrite, and Airbnb.

Hurley stepped down as CEO of YouTube in 2010. Since then, he's backed education startup Uptime and invested in several sports teams.

Chen invested in actor Joseph Gordon-Levitt's musical collaboration platform HitRecord, which in February secured $6.4 million in Series A funding.

Andrew McCormack: assistant to Peter Thiel at PayPal
PayPal
McCormack served as Thiel's assistant at PayPal.

Paul Sakuma/AP

McCormack joined PayPal in 2001, working as an assistant to Peter Thiel as the company prepared for its IPO.

In 2003, McCormack started a restaurant group in San Francisco. In 2008, he joined Thiel Capital and worked there for 5 years.

McCormack went on to launch VC firm Valar Ventures
Peter Thiel
Peter Thiel.

Alex Wong/Getty Images

McCormack partnered up with Thiel again in 2010 to found Valar Ventures, a venture capital fund.

Valar Ventures has invested in technology startups well beyond Silicon Valley, including some in Europe and Canada. In August, Crunchbase reported the firm had closed on a $150 million funding round for a new venture capital fund, Valar Fund V.

McCormack continues to serve as a managing partner of the firm.

Β 

Keith Rabois: PayPal's executive vice president
Keith Rabois
Rabois served as PayPal's executive vice president.

Fortune Live Media via Flickr

Entrepreneur Keith Rabois served as PayPal's executive vice president from 2000 to 2002.

He would go on to join his PayPal colleague Reid Hoffman at LinkedIn as its vice president for business and corporate development from 2005 to 2007. He was an early investor in startups like Square, where he spent two-and-a-half years as COO.Β 

Rabois joined Thiel, Howery, and Nosek as a partner at Founders Fund.
Keith Rabois
Rabois has invested in a number of major companies.

Steve Jennings/Getty Images for TechCrunch

Rabois is the CEO of OpenStore and has served on the board of directors for Yelp, Xoom, and Reddit.

He was a general partner at Founder's Fund, where he cofounded OpenStore, before returning to Khosla Ventures in early 2024.

Russel Simmons and Jeremy Stoppelman: worked on technology at PayPal.
Jeremy Stoppelman Russel Simmons

Eric Risberg/AP

Simmons was an engineer and Stoppelman was the vice president of technology after joining PayPal from X.com.

In 2004, the pair came up with the idea for a platform where users could leave recommendations about businesses in their area. They pitched the idea to Levchin, who provided an early investment of $1 million, and Yelp was born.

Simmons left his official role at Yelp in 2010, while Stoppelman continues to serve as Yelp's CEO.
Jeremy Stoppelman

MediaNews Group/Bay Area News via Getty Images

Simmons served as CTO at Yelp from 2004 until he left the role in 2010. Stoppelman is still CEO of Yelp, and has publicly spoken out in support of political issues like women's reproductive rights.

Jack Selby: PayPal's vice president of corporate and international development.
FILE PHOTO: The German headquarters of the electronic payments division PayPal is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch/
Selby started Clarium Capital Management.

Reuters

After leaving PayPal, Selby partnered with Thiel to start Clarium Capital Management.

In 2017, Selby was revealed to be the generous tipper behind "Tips for Jesus."
jack selby

Photo by Charles Sykes/Invision/AP

Selby later helped manage Thiel Capital, the Thiel's family office, and started his own venture capital fund, AZ-VC, where he serves as managing partner. He still serves as managing director at Thiel Capital.

Starting in 2013, Selby began anonymously leaving tips for unsuspecting waitstaff, ranging into the thousands, and signing them "Tips for Jesus." His identity was confirmed by a New York City bartender who served him prior to receiving a $5,000 tip.

Dave McClure: PayPal's director of marketing
Dave McClure
McClure served PayPal's director of marketing.

Edward Wong/South China Morning Post via Getty Images

McClure served PayPal's director of marketing as for four years beginning in 2001.

According to McClure's LinkedIn, he began a program called the PayPal Developer Network, which consisted of about 300,000 developers that were using PayPal.Β 

McClure left PayPal in 2004.
Dave McClure

Getty Images

He had a brief stint at Founders Fund before launching 500 Startups, an early stage venture fund. McClure stayed at 500 Startups until June 2017, when he was accused of "inappropriate behavior with women" in a New York Times report and stepped down from his role at the firm, writing an apology post titled "I'm a creep. I'm sorry."

He's since become an investor and owner in a professional sports league for ultimate frisbee and cofounded Practical Venture Capital, according to his LinkedIn.

Β 

Several more former PayPal employees went on to have careers both in and out of tech.
Joe Lonsdale
Joe Lonsdale, who got his start as a finance intern at PayPal.

Brian Ach/Getty Images for TechCrunch

  • Yishan Wong was an engineering manager who later served as CEO of Reddit from 2011 to 2014. He then founded the reforestation company Terraformation in 2020, where he now serves as CEO.
  • Jason Portnoy worked in finance at PayPal, and went on to work at Clarium Capital and Palantir. He's now a partner at VC firm Oakhouse Partners.Β 
  • Premal Shah was a product manager at PayPal beginning in 2000, then went on to work at technology nonprofit Kiva. He's now president at financial-services startup Branch.Β 
  • David Gausebeck was a technical architect at PayPal. Now, he serves as chief scientist at 3D modeling company Matterport. He cofounded 3D modeling company Matterport, where he now serves as chief scientist.
  • Joe Lonsdale started his career as a finance intern at PayPal before moving into venture capital β€” he's worked at VC firms Clarium Capital, Formation 8, and 8VC. Lonsdale also cofounded Palantir, and has reportedly contributed to a Trump PAC.
  • Eric Jackson was director of marketing at PayPal and went on to write a book about the company called "The PayPal Wars." He's currently the CEO of CapLinked.Β 
Read the original article on Business Insider

A guide to tech billionaire Peter Thiel's Washington web

10 December 2024 at 07:49
Peter Thiel
Peter Thiel's influence in Washington stretches far and wide, from politicians to tech leaders to his own companies' government contracts.

Nordin Catic/Getty Images for The Cambridge Union

  • Peter Thiel, tech billionaire and conservative kingmaker, has amassed influence all over Washington.
  • He's close to powerful elected and un-elected political players, like JD Vance and Vivek Ramaswamy.
  • Palantir, a company Thiel co-founded, counts the US government as its biggest client.

In August 2021, a mystery buyer purchased a 10,000-square-foot home in Washington, DC. They made the $13 million purchase through Salona Village Holdings LLC, shielding their identity.

That mystery buyer was billionaire Peter Thiel, whose sprawling influence in Washington has grown in recent years. Between mentoring Vice President-elect JD Vance since his time at Yale Law School to running companies with millions in government contracts, Thiel has entrenched himself in the DC world in ways both seen and subtle.

Worth $14.8 billion according to the Bloomberg Billionaire Index, the 57-year-old PayPal confounder was one of the first Silicon Valley leaders to espouse conservative views.

Here's a guide to his influence in Washington, which stretches far beyond the walls of his mansion.

A representative for Thiel did not respond to Business Insider's request for comment.

JD Vance
JD Vance
Thiel has mentored Vance since 2011.

Anna Moneymaker/Getty Images

Thiel played a critical role in orchestrating Vance's rise to the top of Republican politics. The two first met in 2011, when Vance attended a talk Thiel gave at Yale Law School. In a magazine article written nearly a decade later, Vance called Thiel "a good friend" and said his speech was "the most significant moment of my time at Yale Law School."

After graduating from Yale, Vance became a principal at Thiel's VC firm, Mithril Capital. Their mentor-mentee relationship only grew stronger, with Thiel eventually investing heavily in Vance's own venture fund, Narya Capital, and writing a blurb for "Hillbilly Elegy." When Vance decided to pursue politics, Thiel remained by his side, pouring at least $15 million into his 2022 Senate campaign, according to OpenSecrets.

In 2021, Thiel introduced Trump and Vance at Mar-a-Lago, and remained invested in their relationship through the 2024 election. With repeated calls to President-Elect Donald Trump and persistent lobbying, Thiel played an important role in getting Vance on the ticket.

Elon Musk
peter thiel elon musk early paypal
Thiel and Musk merged their companies in 2000.

AP

Musk and Thiel merged their online banking companies in 2000, forming PayPal. Their relationship soured, though, when Thiel ousted Musk as CEO and eventually took over the role. Come 2008, relations had evidently thawed enough for Thiel to make a $20 million investment in SpaceX, one of Musk's companies. The investment was crucial to helping SpaceX recover from a failed rocket launch that same year.

After Trump won the 2024 election, Thiel credited Musk for making other Silicon Valley leaders feel comfortable supporting the president-elect. Musk is one of Trump's top advisors and soon-to-be co-head of the Department of Government Efficiency.

Donald Trump
Donald Trump and Peter Thiel
Thiel didn't donate to Trump in 2020 or 2024.

Drew Angerer/Getty Images

In 2016, Thiel donated more than $1 million to Trump's presidential campaign. He had a prime-time speaking slot at the Republican National Convention and served as a go-between with Silicon Valley. Thiel said he was disappointed by Trump's first term and didn't donate in 2020 or 2024. Still, he predicted that Trump would win this year.

With Vance anointed as MAGA heir apparent, Thiel and Trump have a chance to rekindle their ties.

Mark Zuckerberg
Meta CEO Mark Zuckerberg at a mixed martial arts tournament in 2024.
Zuckerberg relied on Thiel during the early days of Facebook.

Chris Unger/Getty Images

Mark Zuckerberg may not be a politician, but his influence in Washington runs deep. Between Facebook's role in free speech culture wars, the Federal Trade Commission's ongoing antitrust case against Meta, and Zuckerberg's rocky relationship with Trump, the tech leader is entrenched in the political conversation.

Thiel has a stake in Zuckerberg's involvement. He counts the Facebook founder among his mentees and was the site's first outside investor. Thiel sat on the board of Facebook and wielded great influence as its longest-serving member, but sparred with some of the company's more liberal employees, per the Washington Post. He ended up stepping down in 2022.

In 2019, Thiel, Zuckerberg, and Trump all had dinner at the White House, illustrating the strengthening ties between the tech world and Washington.

Sam Altman
OpenAI CEO Sam Altman.
Thiel was an early investor in OpenAI, Altman's company.

Andrew Caballero-Reynolds/AFP/Getty Images

Sam Altman, billionaire co-founder of OpenAI, the company behind ChatGPT, is another one of Thiel's mentees. Thiel offered advice and support throughout Altman's early career, eventually becoming an early investor in OpenAI.

Like other prominent tech companies, OpenAI is under federal scrutiny. The Securities and Exchange Commission is investigating if the company's investors were misguided after board members suddenly ousted Altman as CEO in 2023, the Journal reported.

Beyond the investigation, Altman is becoming more involved in Washington. In the summer of 2023, he began a lobbying campaign in Congress about the future of AI regulation. OpenAI has spent money trying to sway Washington and hired staff with political know-how, per CNBC. As AI policy is poised to become an even bigger political question, Altman's influence β€” and Thiel's, by proxy β€” may continue to grow.

Vivek Ramaswamy
Vivek Ramaswamy speaks at a podium
Thiel invested in Ramaswamy's "anti-woke" investment fund.

Michael M. Santiago/Getty Images

Biotech billionaire and former GOP presidential candidate Vivek Ramaswamy is set to co-lead DOGE.

Like Vance, Ramaswamy first met Thiel as a student at Yale Law School β€” he told PBS that it may have been at the very same speech that so impacted the vice president-elect. At the time, Ramaswamy attended an "intimate lunch seminar" Thiel hosted for a small group of students, per the New Yorker.

Eventually, Thiel threw his wealth behind Ramaswamy. In early 2022, Ramaswamy co-founded Strive Asset Management, an "anti-woke" investment fund, and Thiel was an early investor.

David Sacks
David Sacks
David Sacks

Reuters

David Sacks, a former PayPal executive and prominent venture capitalist, will serve as the White House's AI and crypto czar during Trump's second term. Thiel and Sacks met at Stanford, where they co-wrote the controversial book, "The Diversity Myth." Both men have apologized for some of the book's content, which downplayed date rape. Sacks also served as editor-in-chief for the Stanford Review, a libertarian newspaper Thiel founded.

In 1999, Sacks joined Thiel's company Confinity, which later became PayPal. He eventually served as PayPal's chief operating officer and continued working closely with Thiel.

As the AI and crypto czar, Sacks will create the country's legal framework for crypto and head a presidential council of advisors on science and technology. The council will, according to the White House's website, be comprised of industry actors, academics, and people from non-profit organizations. Through Sacks, cryptocurrency supporters will likely have a direct line to Trump, Bloomberg reported.

Jim O'Neill
Jim O'Neill in a crowd
O'Neill is the former CEO of the Thiel Foundation.

Drew Angerer/Getty Images

Trump has nominated Jim O'Neill, former CEO of the Thiel Foundation, as the deputy secretary of the Department of Health and Human Services.

A Silicon Valley investor, O'Neill worked at HHS under former President George W. Bush before moving to Thiel's network. During his time as the acting CEO of the Thiel Foundation, O'Neill co-founded the Thiel Fellowship, which gives a $10,000 grant to young people who skip out on or pause college to tackle big projects. In 2012, O'Neill worked with Thiel to launch Mithril Capital Management, the same VC fund where Vance worked. He served as the fund's managing director but left in 2019 β€” he sued Mithril later that year over claims of unfair business practices and a contract breach.

During Trump's first term, Thiel pushed to have O'Neill fill a prominent health role, per the Post. If confirmed this time around, O'Neill will work closely with Robert F. Kennedy Jr., whom Trump tapped to lead HHS. O'Neill, who has criticized the FDA in the past, would play a big role in HHS' daily operations and policy decisions.

Palantir
Palantir is a big data analytics firm.
The federal government is Palantir's biggest client.

Illustration by Piotr Swat/SOPA Images/LightRocket via Getty Images

Thiel's Washington connections extend to his businesses, especially the data mining company Palantir that he co-founded in 2003. Palantir makes software to manage, analyze, and secure data, and its biggest client is the US federal government.

Federal government contracts helped build Palantir, which started out by partnering with defense and intelligence agencies. The company focuses on counterterrorism efforts and immigration enforcement. Some investors anticipate defense and immigration enforcement will see increased spending under a second Trump administration, meaning Palantir may get a boost.

Blake Masters
Blake Masters
Blake Masters lost his Senate race, even after getting Thiel's help and Trump's endorsement.

Mario Tama/Getty Images

An ideological ally of Thiel and Vance, Blake Masters lost his bid for a Senate seat in Arizona to Sen. Mark Kelly, but nonetheless benefited from Thiel's money and support. A decade before running for the Senate in 2022, Masters took Thiel's lecture when he was a student at Stanford Law School. Enthralled by Thiel and the course, Masters posted his notes from the influential class on a website.

The two co-authored a book, and Masters served as chief investment officer at Thiel's investment firm and president of the Thiel Foundation. When Masters pivoted to politics, Thiel donated $13.5 million to Masters' 2022 campaign.

Other elected officials
Josh Hawley and Gavin Newsom
Thiel has donated to other politicians, including a few Democrats.

Getty Images

Though Thiel's most notable political contributions have gone to Vance, Masters, and Trump, he's donated to an array of other politicians and Republican causes. Among his beneficiaries are Sen. Josh Hawley of Missouri and Sen. Ted Cruz of Texas, according to OpenSecrets. He's also given to the Republican National Committee and other GOP-aligned groups.

Thiel isn't entirely partisan with his contributions, though. In 2014 and 2015, he gave at least $70,000 to Gavin Newsom, the Democratic governor of California. Between 2011 and 2016, he also donated at least $7,800 toΒ Rep. Ro Khanna, a Democrat who represents parts of Silicon Valley, per OpenSecrets.

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What we know about Usha Vance's political views

Sen. JD Vance and his wife Usha Vance at the first day of the Republican National Convention, after Trump picked the senator as his vice presidential nominee.
Usha Vance has been tight-lipped about her political beliefs but has long supported her husband's ambitions.

Anna Moneymaker/Getty Images

  • Since law school, JD Vance's wife has been tight-lipped about her political beliefs.
  • Usha Vance was a registered Democrat until 2014 and worked at what some consider a progressive law firm.
  • Vance has said she has "not given a ton of thought" to the issues she'd focus on as second lady.

Usha Vance's classmates at Yale Law School didn't know much about her politics. Weeks before she becomes second lady, the nation doesn't know much, either.

"She was more tight-lipped, at least in my experience, with her political views," said Marvin Lim, a Democrat in the Georgia House of Representatives who also graduated in 2013. He wasn't close with either of the Vances, but said that they "certainly communicated a great deal."

"I don't remember ever having a political conversation with Usha," Elliot Forhan, a Democrat representative in Ohio who took a small class with Usha but wasn't close friends with her, said. "She just didn't really show her cards with respect to the political stuff."

Vance, 38, will make history as the nation's first Indian American and first Hindu second lady. She'll also be the second-youngest person to fill the role, after Jane Hadley Barkley, wife of former Vice President Alben Barkley in 1949.

Usha Chilukuri met JD Vance while at Yale Law School. The two were in the same small group of approximately 15 students who take all of their classes together, the New York Times reported. They got married in 2014, one year after graduating, and Lim said that their affection for each other was obvious. Less obvious, however, is Usha Vance's political orientation and relationship to the newfound national spotlight.

Vance grew up in a suburb of San Diego, raised by a mechanical engineer and a biologist. One of her family friends, Vikram Rao, told The Times that she was a natural and kind leader, selecting what games they played and setting the rules by age five.

After getting her undergraduate degree from Yale, she studied copyright law at Cambridge. In February of 2006, a campus tabloid magazine at Yale described her "as "of the leftish political persuasion," but noted that she opted for romantic partners who are "tall, handsome, and conservative." One of her friends at Cambridge, Gabriel Winant, said that her social circle was left of center and even dotted with the occasional leftist, the Times reported.

While her political views weren't recognizable to casual peers at Yale Law School, her leadership was evident. Both Forhan and Lim said that she wasn't particularly loud in class, but didn't fade into the background, either. Her drive didn't seem to extend to politics.

"She didn't express political ambitions, but she did have ambition," Lim told Business Insider, noting that she went on to have prestigious judicial clerkships after graduation. "We knew those were things she wanted to do, but not political ambitions."

A representative for Usha Vance declined to comment for this story.

From a 'woke' law firm to conservative clerkships, Vance's political orientations remained murky after law school.

After graduating from law school, Vance clerked for a pre-SCOTUS Brett Kavanaugh from 2014-2015 and Chief Justice John Roberts from 2017-2018. In addition, she worked at the law firm Munger, Tolles & Olson, but resigned on Monday when her husband became the GOP nominee for vice president. The law firm has since removed her biography, and with it all of her past cases, though the website used to describe her as "a skilled litigator specializing in higher education, local government, and technology sectors."

The magazine The American Lawyer described Munger, Tolles & Olson as "cool, woke" in 2019, with a "radically progressive" policy on gender and racial diversity in hiring, Vanity Fair reported. Despite his wife's workplace environment, JD Vance championed the "Dismantle DEI Act" in June, 2024, calling the DEI agenda "destructive." In 2022, two colleagues at the firm described Usha Vance as liberal or moderate to The Times.

To make her political affiliations even murkier, Vance was a registered Democrat until 2014, The Times reported. Yet she shifted to the right alongside her husband β€” in 2021, Federal Election Commission records reveal that she donated to Blake Masters, a conservative Senate candidate in Arizona backed by tech billionaire Peter Thiel. And Thiel has known JD Vance since at least 2011, when the tech magnate spoke at Yale. In 2024, Thiel was instrumental in cementing Vance's spot on the Trump ticket.

Vance hasn't always seemed eager to be center stage.

When JD Vance was himself running for Senate, Usha Vance appeared in his very first campaign ad, sitting in front of a bookshelf and talking about their three children. In an interview with Newsmax during the campaign, she said that her husband has not changed in the many years of their relationship.

After her initial appearance, Vance largely faded out of her husband's campaign, but became more active as voting day neared. The same was true of this year's presidential election: Vance introduced her husband at the Republican National Convention, but didn't speak at other public campaign events, ABC reported. She helped behind the scenes, assisting with debate prep and offering feedback on rallies, according to NBC News.

In an interview on Fox & Friends in June, Usha Vance seemed ambivalent about taking on a public political role. During the conversation, she didn't wholly embrace the possibility of becoming the second lady.

"I don't know that anyone is ever ready for that kind of scrutiny," she said. "I'm not raring to change anything about our lives are right now, but I believe in JD and I really love him, so we'll just sort of see what happens."

She declined to specify what issues she would tackle in the White House, saying that "we might be getting a little ahead of ourselves."

Vance has consistently defended her husband in the face of controversy, like when she called his infamous childless cat ladies comment a "quip."

As the election inched closer, Vance remained vague about her personal political plans.

"This is such an intense and busy experience that I have not given a ton of thought to my own roles and responsibility," she told NBC News in late October when asked what she'd focus on as second lady. "It's just something that I've never really β€”Β it's not something I'm terribly familiar with."

Vance went on to say that she'd "collect some information" and circle back to the question after November 5, depending on the election results. With the results in, she has yet share any specific plans.

While Usha Vance's political orientations and interest in life as a national figure remain foggy, her devotion to her husband has seemed strong since her days at Yale Law School.

"In terms of political beliefs, she held that close to her chest, but in terms of being supportive of JD, that does not surprise me," Lim said.

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