Billionaire Peter Thiel warns if you 'proletarianize the young people,' don't be surprised they end up communist [View all]

PayPal cofounder and Silicon Valley venture capitalist Peter Thiel doubled down on his worries about generational conflict and the future of capitalism after a similar warning he issued in 2020 proved eerily prescient.

After Tuesday night’s election victory of democratic socialist Zoran Mamdani as New York City’s mayor, an email Thiel sent five years ago went viral.

In the correspondence to Mark Zuckerberg, Marc Andreessen and others, he warned that “When 70% of Millennials say they are pro-socialist, we need to do better than simply dismiss them by saying that they are stupid or entitled or brainwashed; we should try and understand why.”

Thiel expanded on those concerns in an interview with the Free Press that was published on Friday, saying strict zoning laws and construction limits have been good for boomers, who have seen their properties appreciate, but they have been terrible for millennials, who are having an extremely hard time buying homes.

https://www.yahoo.com/news/articles/billionaire-peter-thiel-warns-proletarianize-235603611.html

describes most billionaires these days. We've been doing "trickle-down economics" for the last forty-five years. Only the well to do have benefitted from it.