The negativity here is misled. Thiel made investments in companies which he thought might one day be of enormous value to society. Their current valuations, and the size of his IRA, prove him right. We can thank early investors like Thiel for bringing this potential to fruition. And not only that, but Thiel has not consumed any of this well-earned wealth, instead leaving it untouched, hasn’t converted it into scarce goods and services, presumably because he didn’t see virtue in the gross materialism that consuming it would entail. These investments are heroic acts by Thiel.
In the sense that he developed his business acumen and foresight to an exquisite degree and was then able to take well-informed risks with his own resources that in the end produced a great outcome for society (and himself). Many people fail to develop their talents, or squander them, or are too over-cautious to use them, and they and society are the worse for it.
