I don't know anything about Thiel, but I remember seeing a talk of his where he basically described that:
1) all companies are on a spectrum between being a complete monopoly and having intense competition
2) their goal is always to be as far to the monopoly side as possible
3) and regardless of where they are on the spectrum, they have to do everything in their power to convince everyone that they are on the other end
(Slightly complicated by the fact that you can hold a monopoly in one market, but have lots of competition in a closely related market. On the one hand you have competition, on the other hand it may just be a facade to help sell your case for #3)
So I don't know the extent of why "leftists hate him", but IMO this is the best logical argument for why late stage capitalism is as unsustainable as leftists say it is.
Being honest doesn’t make him wrong. If Thiel is known for something is for being insightful early.
A lot of people in the startup world still value “first mover advantage” as something that gives them an edge, when evidence says it’s hardly the case. “It’s not about being the first X, is about being the last one” is a brilliant way to put it.
1) all companies are on a spectrum between being a complete monopoly and having intense competition
2) their goal is always to be as far to the monopoly side as possible
3) and regardless of where they are on the spectrum, they have to do everything in their power to convince everyone that they are on the other end
(Slightly complicated by the fact that you can hold a monopoly in one market, but have lots of competition in a closely related market. On the one hand you have competition, on the other hand it may just be a facade to help sell your case for #3)
So I don't know the extent of why "leftists hate him", but IMO this is the best logical argument for why late stage capitalism is as unsustainable as leftists say it is.