Thiel believes Democrats hitched their wagon to Big Tech, to the detriment of the American middle class.
in Protocol, Hirsch Chitkara writes:
Thiel believes Democrats hitched their wagon to Big Tech, to the detriment of the American middle class. ·
In economics, the resource curse theory posits that resource-rich countries tend to have lower standards of living relative to their resource-poor counterparts. Though it sounds counterintuitive, the general idea is that this overabundance of natural resources allows corrupt and incompetent governments to stay in power, while the economy sustains itself with minimal ingenuity.·
In his keynote speech at this year’s National Conservatism conference, Thiel took this established idea and reconfigured it as the “tech curse,” which he defines as when a “strong technology industry is associated with social dysfunction rather than progress.”·
Thiel posits that tech wealth enables distorted political dynamics, which has in turn led to the real estate crisis and broader hollowing out of the middle class.·
Though he identifies “wokeism” as the religion of our resource-rich state, Thiel claims it shouldn’t be mistaken as “the main thing that’s going on.”·
Accordingly, Thiel tells us, Democrats have no choice but to hitch their wagon to tech and “pretend that they can make [the] California [model] work for the country as a whole.” Alternatives such as the “fake blue-collar” model or the redistributionist “globalist finance model” work even less well than California, he says.
So where does that leave Republicans? Thiel criticizes the party as it stands now for being too nihilistic — only defining itself in opposition to wokeism and the broader California model. He instead wants the party to get back to “some broad-based growth that is not inflationary, not cancerous, and not some kind of narrow real estate racket.”·
But that’s just about where the prescription ends. We can extrapolate from other Thiel statements that he wants more investment in non-software technology (“atoms, not bits”), and of course, he’ll always be in favor of less regulation. But other than that, Thiel’s vision seems more defined by what it isn’t rather than what it is. Ironically, then, it suffers from the same ideological nihilism he identifies within the conventional GOP.
In either case, Thiel doesn’t want Republicans to kill the golden goose. A tech executive reading this might think Peter Thiel wants nothing more than to wrest the state power from the Democrats and use it to destroy tech companies. That’s only half right: He wants state power, but not as a means of destroying tech. “It’s just like Saudi Aramco isn’t the main problem in Saudi Arabia — it’s the most functioning institution,” Thiel analogized to suggest we should blame political dysfunction on the superstructure surrounding Apple and Google, not the companies themselves. So Thiel identifies tech as fundamental to the problem, but doesn’t want to destroy it as part of the solution.