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Peter Thiel thinks rich elites have too much power but still wants to elect Donald Trump

The Silicon Valley billionaire mounted yet another defense of Donald Trump at a National Press Club event Monday morning, during which Thiel also fielded questions about the Gawker lawsuit, the reaction to his support of Trump, and his thoughts on the media and election as a whole. 

“No matter how crazy this election seems, it is less crazy than the condition of our country,” he said. 

Thiel kicked things off by denouncing the wealthy, as billionaires are wont to do (which makes you wonder why he supported Trump instead of Bernie Sanders). He spent much of his speech talking about the bubbles—immigration bubbles, housing bubbles, war bubbles, trade bubbles—that he says the establishment has brought about. 

“I’ve always had a bias for supporting outsiders,” Thiel said. “I would have liked to see a race between Sanders and Trump because I think both of them viscerally felt the decline [of the U.S.]” PM