Peter Thiel is leaving the board of Meta after nearly two decades. It is unclear where Thiel will devote his time and resources. It has been a privilege to work with one of the great entrepreneurs of our time. Mark Zuckerberg’s intelligence, energy, and conscientiousness are tremendous. His talents will serve Meta well as he leads the company into a new era.
The entrepreneur also helped found PayPal and backed other companies through his Founders Fund. After disappointing quarterly results, the billionaire investor’s departure comes just days after the tech giant lost over $220 billion in the worst single-day market value carnage ever for a U.S. company. The stock has lost 33% of its value this year, compared to the Nasdaq Composite’s 10% drop.
It also comes as Trump raises his profile via the social media company he is backing Trump Media and Technology Group. Facebook ended the 2021-year deal with a public relations crisis after whistle-blower Francis Haugen went public with allegations that the tech giant ignored questionable and harmful content. Facebook disputed many of her claims. Haugen released a trove of documents related to her claims to multiple news organizations at the same time.