Niall Ferguson: Billionaire Peter Thiel Is Worried About America's Future

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    Feb 15, 2012 4:20 AM GMT
    http://www.thedailybeast.com/newsweek/2012/02/12/billionaire-peter-thiel-is-worried-about-america-s-future.html

    This is a key insight. World War II and the Cold War incentivized the federal government to force the pace of scientific innovation, nowhere more obviously than in the realm of nuclear technology. But as the totalitarian threat waned and then expired, government turned from research and development to health and safety. Redistribution and regulation took over and, as they did so, the sci-fi dreams of the 1960s faded into a stagflationary reality. In 1964, when I was born, Popular Science magazine could seriously ask: “Who’ll Fly You at 2,000 m.p.h.?” Instead, I have lived to see the Concorde decommissioned and coal-carrying railroads reopened.

    We aren’t moving faster. We haven’t freed ourselves from fossil fuels. Life expectancy still rises, but at a slowing rate. Only in Palo Alto—the realm of Moore’s law on the recurrent doubling of computer processing power—has progress persisted. The rest of us have had to rely on leverage, aided and abetted with financial technology, to maintain the illusion of rising real incomes.

    As for globalization, it just took established Western ways of making stuff and spread them to the East and South. Worse, when leverage combined with globalization to produce a massive financial crash, we fell back on Keynesian deficits plus money printing in the mistaken belief that they had saved us before. They hadn’t. It was technological innovation, accelerated by government, that produced the economic miracles of the 1940s, ’50s, and ’60s.

    To listen to Thiel is to hear an alternative economic history of the past hundred years. It is also to hear a rather bleak prophecy about the next hundred. He and his friends will continue to innovate, no doubt; but they will focus their energies on the few relatively unregulated sectors. The rest of us will remain mired in a stagnant politicized economy of regulation and redistribution, vainly trying to divert a fraction of the innovators’ billions our way.

    So now you know: Peter Thiel is smarter than you, too. Damn.
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    Feb 15, 2012 4:24 AM GMT
    He's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."
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    Feb 15, 2012 4:40 AM GMT
    Christian73 saidHe's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."


    But of course Christian - you must of course be smarter than he is. Given the choice, the beneficiaries of your services built on recycled ideas and based on the charity of others would overwhelmingly choose the for profit services that he's created or has been involved with over yours (among them LinkedIn, Facebook, PayPal, and Yelp)

    icon_rolleyes.gif
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    Feb 15, 2012 5:00 AM GMT
    riddler78 said
    Christian73 saidHe's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."


    But of course Christian - you must of course be smarter than he is. Given the choice, the beneficiaries of your services built on recycled ideas and based on the charity of others would overwhelmingly choose the for profit services that he's created or has been involved with over yours (among them LinkedIn, Facebook, PayPal, and Yelp)

    icon_rolleyes.gif


    The people who benefit from my work are not those that pay for products he was involved in creating. Further, his success in the social media sector does not imbue him with a particular expertise outside of that sector. The idea that "over-regulation" is strangling innovation is a sad joke in a country where corporations have more rights than people do.
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    Feb 15, 2012 5:12 AM GMT
    http://www.the-american-interest.com/article.cfm?piece=1187
    The original interview and Noah Smith's interpretation (he quotes directly from the interview).
    http://noahpinionblog.blogspot.com/2012/02/we-really-need-peter-thiel-conservatism.html

    1. Peter Thiel believes that inequality can reduce economic efficiency by causing sudden, devastating collapses in institutions.

    2. Peter Thiel seems to think that we should think about how to make government more efficient, instead of drowning it in a bathtub.

    3. Peter Thiel thinks that the package of conservative ideas that emerged in the Reagan years, and which dominates conservative thinking even to this day, has outlived its usefulness and must be replaced.

    4. Peter Thiel believes in a version of Tyler Cowen's "Great Stagnation" idea, but is more subtle than Cowen, because he doesn't try to argue that the IT revolution was a mirage; he simply believes that it wasn't enough to compensate for the slowdown in other areas.

    5. Peter Thiel believes that much of our inequality is due to factor price equalization, caused by the massive dump of Chinese labor onto global markets.

    6. Peter Thiel thinks that the government should be more hands-on about industrial and technology policy, not less.
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    Feb 15, 2012 5:26 AM GMT
    Why the hell are you quoting Peter Thiel? The man is a good, smart businessman, but it is hard to take him seriously when he believes in the floating island utopias.

    Take a look at his ideas on a floating libertarian island:

    "The ultimate goal," Friedman says, "is to open a frontier for experimenting with new ideas for government." This translates into the founding of ideologically oriented micro-states on the high seas, a kind of floating petri dish for implementing policies that libertarians, stymied by indifference at the voting booths, have been unable to advance: no welfare, looser building codes, no minimum wage, and few restrictions on weapons.

    Despite the naysayers, Thiel appears firmly committed to the idea; he has so far funneled $1.25 million to the Seasteading Institute.

    A friend of Thiel's, however, says Thiel remains "conflicted about" the juxtaposition of his homosexuality and his Christian religious beliefs. If that's true, Thiel appears to have made some peace with himself since being outed. He's a donor to GOProud, a gay Republican organization, and last fall he hosted its "Homocon 2010" at his apartment overlooking Union Square in New York City, where guests were ushered into the elevator by beautiful young men wearing FREEDOM IS FABULOUS T-shirts and treated to an uproarious speech by Ann Coulter.

    All this plays into a widespread perception that Thiel is a hive of contradictions. When I ask him about that perception, he says, "I guess I'm comfortable not fitting into any precise category, and I'm not sure the existing categories all perfectly make sense."


    Read More http://www.details.com/culture-trends/critical-eye/201109/peter-thiel-billionaire-paypal-facebook-internet-success#ixzz1mQQhRD4s


    Read More http://www.details.com/culture-trends/critical-eye/201109/peter-thiel-billionaire-paypal-facebook-internet-success#ixzz1mQPoL83j


    http://theweek.com/article/index/218393/libertarian-island-a-billionaires-utopia
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    Feb 15, 2012 5:43 AM GMT
    Christian73 said
    riddler78 said
    Christian73 saidHe's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."


    But of course Christian - you must of course be smarter than he is. Given the choice, the beneficiaries of your services built on recycled ideas and based on the charity of others would overwhelmingly choose the for profit services that he's created or has been involved with over yours (among them LinkedIn, Facebook, PayPal, and Yelp)

    icon_rolleyes.gif


    The people who benefit from my work are not those that pay for products he was involved in creating. Further, his success in the social media sector does not imbue him with a particular expertise outside of that sector. The idea that "over-regulation" is strangling innovation is a sad joke in a country where corporations have more rights than people do.


    Lol - right... A lot of the services he's helped to create are free. No, his success goes beyond social media - which is a particularly strong area of growth with high paying jobs and also in facilitating communication and linking people who want jobs with those who have job openings, Just look at the results of the jobs and opportunities alone created by PayPal amongst particularly the middle class and yes, even poor. Your dismissive attitude in even dismissing one of the largest tech publications is telling of your own limited grasp of how the world is changing.
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    Feb 15, 2012 6:14 AM GMT
    riddler78 said
    Christian73 said
    riddler78 said
    Christian73 saidHe's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."


    But of course Christian - you must of course be smarter than he is. Given the choice, the beneficiaries of your services built on recycled ideas and based on the charity of others would overwhelmingly choose the for profit services that he's created or has been involved with over yours (among them LinkedIn, Facebook, PayPal, and Yelp)

    icon_rolleyes.gif


    The people who benefit from my work are not those that pay for products he was involved in creating. Further, his success in the social media sector does not imbue him with a particular expertise outside of that sector. The idea that "over-regulation" is strangling innovation is a sad joke in a country where corporations have more rights than people do.


    Lol - right... A lot of the services he's helped to create are free. No, his success goes beyond social media - which is a particularly strong area of growth with high paying jobs and also in facilitating communication and linking people who want jobs with those who have job openings, Just look at the results of the jobs and opportunities alone created by PayPal amongst particularly the middle class and yes, even poor. Your dismissive attitude in even dismissing one of the largest tech publications is telling of your own limited grasp of how the world is changing.


    Dumbass. You can't use PayPal if you're living in a shelter, or you're living in poverty and don't have a computer or the Internet. Those are the kids I work for...

    And since when is the Tina Brown's vanity rag "one of the largest tech publications"...? icon_rolleyes.gif
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    Feb 15, 2012 6:35 AM GMT
    Christian73 said
    riddler78 said
    Christian73 said
    riddler78 said
    Christian73 saidHe's not smarter than me. In fact, he's just a typical opportunist complaining about "overregulation."


    But of course Christian - you must of course be smarter than he is. Given the choice, the beneficiaries of your services built on recycled ideas and based on the charity of others would overwhelmingly choose the for profit services that he's created or has been involved with over yours (among them LinkedIn, Facebook, PayPal, and Yelp)

    icon_rolleyes.gif


    The people who benefit from my work are not those that pay for products he was involved in creating. Further, his success in the social media sector does not imbue him with a particular expertise outside of that sector. The idea that "over-regulation" is strangling innovation is a sad joke in a country where corporations have more rights than people do.


    Lol - right... A lot of the services he's helped to create are free. No, his success goes beyond social media - which is a particularly strong area of growth with high paying jobs and also in facilitating communication and linking people who want jobs with those who have job openings, Just look at the results of the jobs and opportunities alone created by PayPal amongst particularly the middle class and yes, even poor. Your dismissive attitude in even dismissing one of the largest tech publications is telling of your own limited grasp of how the world is changing.


    Dumbass. You can't use PayPal if you're living in a shelter, or you're living in poverty and don't have a computer or the Internet. Those are the kids I work for...

    And since when is the Tina Brown's vanity rag "one of the largest tech publications"...? icon_rolleyes.gif


    Lol - you don't know what ars technica is and you're calling me the dumbass. Vanity rag? Am curious though - how many of the kids you work with have facebook? Because even being poor in the US often means that you can still afford a tv, internet, and a cell phone.
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    Feb 15, 2012 12:34 PM GMT
    I find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif
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    Feb 16, 2012 1:00 AM GMT
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif
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    Feb 16, 2012 1:16 AM GMT
    Balljunkie said
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif


    It must be so difficult for you to take anyone seriously because you must first agree with all their ideas before you do. You're familiar with what an ad hominem attack is? Figure it out.

    In your rush to judgement, you must have 'accidentally' entirely dismissed his ideas before actually reading any of them (and missed the fact that the sea steading institute isn't actually, well, you know, his idea). But what are details when all you want to do is attack his genuine concerns here? I mean forget for a moment that a majority of small business owners also believe that regulation and the healthcare plan are impediments to new hiring.

    I mean forget for a moment that there are some substantive plans to have cruiseships anchored off the shores of san francisco to reduce the regulatory hurdles of bringing needed employers into the US: http://www.blueseed.co/ Oh and let's also forget for a moment he's not exactly put all his eggs in one basket in making substantial investments in New Zealand - http://articles.businessinsider.com/2011-01-14/tech/30081825_1_investments-pacific-fiber-firm

    I mean must be crazy right for a multi-billionaire to spend 1.25 million on a radical idea that may or may not succeed? You do realize that Thiel is a venture capitalist right? Do you know what they do? And on that point, how seriously should someone take you who apparently doesn't know the number of zeroes in a billion versus 1.25 million?

    But hey, let's ridicule a man who has been very successful at meeting the needs of Americans and customers around the world in favor of a government that has slowed down economic growth and opportunity spending money it doesn't have.
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    Feb 16, 2012 1:38 AM GMT
    riddler78 said
    Balljunkie said
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif


    It must be so difficult for you to take anyone seriously because you must first agree with all their ideas before you do. You're familiar with what an ad hominem attack is? Figure it out.

    In your rush to judgement, you must have 'accidentally' entirely dismissed his ideas before actually reading any of them (and missed the fact that the sea steading institute isn't actually, well, you know, his idea). But what are details when all you want to do is attack his genuine concerns here? I mean forget for a moment that a majority of small business owners also believe that regulation and the healthcare plan are impediments to new hiring.

    I mean forget for a moment that there are some substantive plans to have cruiseships anchored off the shores of san francisco to reduce the regulatory hurdles of bringing needed employers into the US: http://www.blueseed.co/ Oh and let's also forget for a moment he's not exactly put all his eggs in one basket in making substantial investments in New Zealand - http://articles.businessinsider.com/2011-01-14/tech/30081825_1_investments-pacific-fiber-firm

    I mean must be crazy right for a multi-billionaire to spend 1.25 million on a radical idea that may or may not succeed? You do realize that Thiel is a venture capitalist right? Do you know what they do? And on that point, how seriously should someone take you who apparently doesn't know the number of zeroes in a billion versus 1.25 million?

    But hey, let's ridicule a man who has been very successful at meeting the needs of Americans and customers around the world in favor of a government that has slowed down economic growth and opportunity spending money it doesn't have.


    Oh, this is going to fun. Please explain to me where the hell did ever fuck up million and billion. I pointed out that it is hard for me to take his ideas seriously when he believes in this idea. I guess in your hasty pursuit to defend Mr. Thiel, you slipped up. And you also slipped up about me thinking he put all of his eggs in one basic with the floating libertarian island idea.

    The more that I think about it, did we have a conversation that I don't know about? The bulk of your rant is coming way out of left field. I guess I am not the only one that needs to brush up on ad hominem attacks. icon_wink.gif
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    Feb 16, 2012 1:48 AM GMT
    Balljunkie said
    riddler78 said
    Balljunkie said
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif


    It must be so difficult for you to take anyone seriously because you must first agree with all their ideas before you do. You're familiar with what an ad hominem attack is? Figure it out.

    In your rush to judgement, you must have 'accidentally' entirely dismissed his ideas before actually reading any of them (and missed the fact that the sea steading institute isn't actually, well, you know, his idea). But what are details when all you want to do is attack his genuine concerns here? I mean forget for a moment that a majority of small business owners also believe that regulation and the healthcare plan are impediments to new hiring.

    I mean forget for a moment that there are some substantive plans to have cruiseships anchored off the shores of san francisco to reduce the regulatory hurdles of bringing needed employers into the US: http://www.blueseed.co/ Oh and let's also forget for a moment he's not exactly put all his eggs in one basket in making substantial investments in New Zealand - http://articles.businessinsider.com/2011-01-14/tech/30081825_1_investments-pacific-fiber-firm

    I mean must be crazy right for a multi-billionaire to spend 1.25 million on a radical idea that may or may not succeed? You do realize that Thiel is a venture capitalist right? Do you know what they do? And on that point, how seriously should someone take you who apparently doesn't know the number of zeroes in a billion versus 1.25 million?

    But hey, let's ridicule a man who has been very successful at meeting the needs of Americans and customers around the world in favor of a government that has slowed down economic growth and opportunity spending money it doesn't have.


    Oh, this is going to fun. Please explain to me where the hell did ever fuck up million and billion. I pointed out that it is hard for me to take his ideas seriously when he believes in this idea. I guess in your hasty pursuit to defend Mr. Thiel, you slipped up. And you also slipped up about me thinking he put all of his eggs in one basic with the floating libertarian island idea.

    The more that I think about it, did we have a conversation that I don't know about? The bulk of your rant is coming way out of left field. I guess I am not the only one that needs to brush up on ad hominem attacks. icon_wink.gif


    Ah then this is just an admission your post lacks all context and the fact that "his" "crazy" idea is one that he invested effectively chump change in - and wasn't even his idea but one that he thought it could work.

    No - you were a little too full of yourself to think through your own reasoning - but hey apparently we all make mistakes given how willingly you're willing to dismiss Thiel for what amounts to something minor and entirely irrelevant to the core of his concerns about America. At least he's consistent in his search for solutions. Those like you? You ignore them and instead of thinking that there's an app that can be created for that you look for the same old tired solutions of government and regulation.

    Sad.
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    Feb 16, 2012 1:52 AM GMT
    Balljunkie said
    riddler78 said
    Balljunkie said
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif


    It must be so difficult for you to take anyone seriously because you must first agree with all their ideas before you do. You're familiar with what an ad hominem attack is? Figure it out.

    In your rush to judgement, you must have 'accidentally' entirely dismissed his ideas before actually reading any of them (and missed the fact that the sea steading institute isn't actually, well, you know, his idea). But what are details when all you want to do is attack his genuine concerns here? I mean forget for a moment that a majority of small business owners also believe that regulation and the healthcare plan are impediments to new hiring.

    I mean forget for a moment that there are some substantive plans to have cruiseships anchored off the shores of san francisco to reduce the regulatory hurdles of bringing needed employers into the US: http://www.blueseed.co/ Oh and let's also forget for a moment he's not exactly put all his eggs in one basket in making substantial investments in New Zealand - http://articles.businessinsider.com/2011-01-14/tech/30081825_1_investments-pacific-fiber-firm

    I mean must be crazy right for a multi-billionaire to spend 1.25 million on a radical idea that may or may not succeed? You do realize that Thiel is a venture capitalist right? Do you know what they do? And on that point, how seriously should someone take you who apparently doesn't know the number of zeroes in a billion versus 1.25 million?

    But hey, let's ridicule a man who has been very successful at meeting the needs of Americans and customers around the world in favor of a government that has slowed down economic growth and opportunity spending money it doesn't have.


    Oh, this is going to fun. Please explain to me where the hell did ever fuck up million and billion. I pointed out that it is hard for me to take his ideas seriously when he believes in this idea. I guess in your hasty pursuit to defend Mr. Thiel, you slipped up. And you also slipped up about me thinking he put all of his eggs in one basic with the floating libertarian island idea.

    The more that I think about it, did we have a conversation that I don't know about? The bulk of your rant is coming way out of left field. I guess I am not the only one that needs to brush up on ad hominem attacks. icon_wink.gif


    Riddler usually engages in arguments that don't actually exist. He says something. We respond And then he proceeds to argue against points never made. It's pretty funny actually.
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    Feb 16, 2012 1:55 AM GMT
    Christian73 said
    Balljunkie said
    riddler78 said
    Balljunkie said
    TropicalMark saidI find it funny that riddler completely ignore the information presented on Mr Thiel, only to combat his 'throned' position with christian!
    It comical and sad at the same time..

    and he calls Christian an obsessive lunatic! icon_rolleyes.gificon_rolleyes.gificon_rolleyes.gificon_rolleyes.gif


    Exactly. I can't take him seriously after reading about his idea of creating a libertarian "floating island". Somebody asked him about that, and he couldn't explain how the maids, etc. would get to and fro the island since they wouldn't live there. Plus, with lax regulations, why wouldn't the people building the island not cut corners and the whole damn thing sink?icon_rolleyes.gif


    It must be so difficult for you to take anyone seriously because you must first agree with all their ideas before you do. You're familiar with what an ad hominem attack is? Figure it out.

    In your rush to judgement, you must have 'accidentally' entirely dismissed his ideas before actually reading any of them (and missed the fact that the sea steading institute isn't actually, well, you know, his idea). But what are details when all you want to do is attack his genuine concerns here? I mean forget for a moment that a majority of small business owners also believe that regulation and the healthcare plan are impediments to new hiring.

    I mean forget for a moment that there are some substantive plans to have cruiseships anchored off the shores of san francisco to reduce the regulatory hurdles of bringing needed employers into the US: http://www.blueseed.co/ Oh and let's also forget for a moment he's not exactly put all his eggs in one basket in making substantial investments in New Zealand - http://articles.businessinsider.com/2011-01-14/tech/30081825_1_investments-pacific-fiber-firm

    I mean must be crazy right for a multi-billionaire to spend 1.25 million on a radical idea that may or may not succeed? You do realize that Thiel is a venture capitalist right? Do you know what they do? And on that point, how seriously should someone take you who apparently doesn't know the number of zeroes in a billion versus 1.25 million?

    But hey, let's ridicule a man who has been very successful at meeting the needs of Americans and customers around the world in favor of a government that has slowed down economic growth and opportunity spending money it doesn't have.


    Oh, this is going to fun. Please explain to me where the hell did ever fuck up million and billion. I pointed out that it is hard for me to take his ideas seriously when he believes in this idea. I guess in your hasty pursuit to defend Mr. Thiel, you slipped up. And you also slipped up about me thinking he put all of his eggs in one basic with the floating libertarian island idea.

    The more that I think about it, did we have a conversation that I don't know about? The bulk of your rant is coming way out of left field. I guess I am not the only one that needs to brush up on ad hominem attacks. icon_wink.gif


    Riddler usually engages in arguments that don't actually exist. He says something. We respond And then he proceeds to argue against points never made. It's pretty funny actually.
    TRUTH!
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    Feb 16, 2012 2:06 AM GMT
    Christian73 said



    Riddler usually engages in arguments that don't actually exist. He says something. We respond And then he proceeds to argue against points never made. It's pretty funny actually.

    Thanks for clearing that up.icon_lol.gif "The app for it" and "belief is government solutions and regulations" had me scratching my head.
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    Feb 22, 2012 8:08 PM GMT
    Balljunkie said
    Christian73 said



    Riddler usually engages in arguments that don't actually exist. He says something. We respond And then he proceeds to argue against points never made. It's pretty funny actually.

    Thanks for clearing that up.icon_lol.gif "The app for it" and "belief is government solutions and regulations" had me scratching my head.


    Lol - coming from someone who has no sense of perspective/proportion in how much money Peter Thiel has spent and therefore you reject all his ideas for donating the equivalent of $300 for someone who has $100k in the bank (for a man who has an estimated networth of $3 billion+) - which was the original point that you don't understand the difference in the number zeroes in a billion and 1.25 million. icon_rolleyes.gif
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    Feb 22, 2012 8:11 PM GMT
    Interesting foot note:
    http://www.theatlanticwire.com/politics/2012/02/peter-thiel-ron-pauls-billionaire-sugar-daddy/48933/

    Thiel, who is openly gay and Christian, has spent his considerable wealth on a number of mainstream and unorthodox causes including the Methuselah Foundation, a research organization that seeks to extend the human lifespan to 1,000 years; the Committee to Protect Journalists; gay-rights groups such as the American Foundation for Equal Rights and GOProud; the Seasteading Institute, an organization set on building small floating countries in the middle of the sea for a "vivid, wilde-eyed dream" of a Libertarian island; and the Thiel Fellowship, which give grants of $100,000 to people under the age of 20 who drop out of school to pursue entrepreneurial projects.