Billionaire Peter Thiel: Silicon Valley's Lone Ranger 'Our Economy is Broken'

Peter Thiel: Our economy is broken

PayPal co-founder Peter Thiel on the U.S. economy.

Billionaire investor Peter Thiel, who helped found PayPal (NASDAQ:PYPL) and sits on Facebook’s (NASDAQ:FB) board, proclaimed “our economy is broken” as he addressed the Republican National Convention urging Americans to vote for Donald Trump.

While acknowledging the great wealth Silicon Valley has generated, he also called out his cohorts as being out-of-touch when it comes to the main street economy. “Silicon Valley is a small place. Drive out to Sacramento or even across the bridge to Oakland and you won’t see the same prosperity,” he bellowed. Thiel also said Americans are not getting paid enough to live. “Across the country wages are flat, Americans get paid less today than ten years ago, but healthcare and college tuition costs more every year.”

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