The man who brought us PayPal and Facebook, and who taught us to hate the idea of college and sovereign currencies, is back!
Peter Thiel, a billionaire entrepreneur and philanthropist, helped fund the case brought by the wrestler, Terry Gene Bollea, better known as Hulk Hogan, against Gawker, said a person briefed on the arrangement who spoke on the condition of anonymity.
Oh yeah, everyone's favorite German-born libertarian futurist venture capitalist is straight up f@cking with his sworn enemies over at Gawker Media. And in case you were wondering how much he hates Nick Denton & Co., here's a gentle reminder...
A self-described libertarian, Mr. Thiel has a long history with Gawker, which published an article in 2007 outing him as gay. Mr. Thiel, who is now open about his sexual orientation, once described the Gawker-owned site Valleywag as “the Silicon Valley equivalent of Al Qaeda.”
But look deeper, because like any Trump-backing tech titan who prefers digital currencies to women's suffrage, Thiel never makes a move that isn't layered. By funding Hulk Hogan's sex tape lawsuit, Peter Thiel has essentially created the market for revenge-based litigation finance. In an economy beset by a growing income gap and rife with litigious citizens, Thiel might have just struck upon his greatest creation yet.
He's like the Charles Bronson of legal-centric investment capital.
Can you imagine the possibilities? In a world with a thriving vengeful litigation finance market, Brian Moynihan will never sleep and Donald Trump will never rest. Ex-wives of hedge fund managers would become the new ruling class. The courts will have to stay open 24 hours to handle the new rush of butt-hurt filings and judges will become the biggest sector of employment growth in the American economy.
And talk about liquidity! If this all breaks right, you can get your lawsuit seed money in Bitcoin from PayPal. We're going to break the Blockchain from over-use!
Suing an old enemy to get satisfaction for residual anger over an unrelated matter is the purest expression of American capitalism, and Peter Thiel is our purest American capitalist.
Peter Thiel Is Said to Bankroll Hulk Hogan’s Suit Against Gawker [DealBook]