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Founders Fund

All articles tagged with #founders fund

technology-and-policy19 days ago•2 min saved

Thiel Accuses Pope Leo XIV of Serving Beijing’s AI Interests Through Regulation Calls

Tech billionaire Peter Thiel criticized Pope Leo XIV’s recent encyclical on artificial intelligence, arguing that calls for global AI regulation inadvertently benefit the Chinese Communist Party by slowing Western innovation while China continues to advance. Thiel, who co-founded PayPal and Palantir and invests in major AI firms, stated that the Vatican’s stance acts as a 'useful idiot' for Beijing, potentially leading the U.S. and its allies to impose restrictive rules that hinder their competitive edge. This critique emerged just before President Donald Trump and Chinese leader Xi Jinping were scheduled to meet in Washington to discuss AI risks and potential cooperation. Thiel’s comments reflect his broader opposition to technology regulation, including previous comparisons of AI safety advocates to 'the Antichrist.' The Vatican did not immediately respond to the criticism.

via Politico|

#ai-regulation #china-us-relations #founders-fund

aerospace-and-defence1 month ago•7 min saved

Thiel-backed Covenant to mass-produce Anthem deep-strike missiles in US, Europe and Israel

A US-Israeli defence startup enabled by Peter Thiel’s Founders Fund plans to build three factories in Dallas (US), Leipzig (Germany) and Israel to mass-produce the Anthem long-range “deep strike” munition. Covenant aims to produce about 1,000 Anthem missiles per year at each site by 2027 and 5,000 per site from 2028, with each missile priced in the mid six figures of euros. Marketed as a cheaper alternative to Tomahawks, Anthem is designed to deter threats from Russia, China and Iran and to saturate targets with high volume fire. The company has already conducted more than 200 trials and has secured initial US government contracts for testing and a maritime version. Germany is considering procurement, and Covenant emphasizes a European-focused supply chain, while keeping some details like range and classification (cruise missile vs deep-strike munition) confidential. Covenant has raised roughly $250 million and is valued at over $1 billion, backed by a slate of VC firms including Andreessen Horowitz, 8VC, Altimeter, Lightspeed and Lux Capital.

via Financial Times|

#aerospace-and-defence #anthem-missiles #covenant

business4 months ago•7 min saved

SpaceX IPO Could Deliver $60B+ Windfall to Founders Fund and Valor

SpaceX’s IPO is expected to be the largest ever, potentially delivering more than $60 billion in gains to top backers including Founders Fund and Valor Equity Partners, with Valor’s roughly 4% stake could be worth about $65 billion if SpaceX is valued near $1.75 trillion at IPO.

via The Information|

#business #founders-fund #ipo

cryptocurrency-investment2 years ago•2 min saved

"Peter Thiel's Founders Fund's $200 Million Crypto Investment Before Bull Run"

Peter Thiel's Founders Fund made a $200 million investment in bitcoin and ether last year, signaling Silicon Valley's renewed interest in cryptocurrency markets. This move marks a comeback for crypto markets, which suffered in 2022 after a regulatory crackdown. Founders Fund, known for its early bets in companies such as SpaceX and Meta, has over $12 billion in assets under management and has been an early institutional investor in crypto. Thiel, a co-founder of PayPal and Palantir, has publicly praised bitcoin as a store of value and a hedge against central banks' monetary policy, aligning with his interests in libertarianism, small government, and technology innovation.

via Reuters|

#bitcoin #cryptocurrency #cryptocurrency-investment

cryptocurrency-investment2 years ago•1 min saved

"Peter Thiel's Founders Fund's $200M Crypto Investment Before Bull Run"

Peter Thiel's Founders Fund made a $200 million investment in bitcoin and ether before the recent bull run, selling most of its crypto holdings for $1.8 billion just before the 2022 crypto winter. Thiel has been a long-time proponent of bitcoin, and the fund's investment in BTC and ETH has seen significant gains as bitcoin rose nearly 124% and ether 75% in the last 12 months, according to CoinDesk Indicies data.

via CoinDesk|

#bitcoin #cryptocurrency-investment #ether

business-venture-capital2 years ago•5 min saved

"Keith Rabois Returns to Khosla Ventures After Five Years at Founders Fund"

Keith Rabois, a prominent venture capitalist known for his involvement in successful startups, has returned to Khosla Ventures after nearly five years at Founders Fund. He will be one of five managing directors in the firm's new $3.1 billion capital across three funds. Rabois, who is also known for his vocal support of the tech scene in Miami, will split his time between the Bay Area and Miami. His return reunites him with Khosla Ventures' founder Vinod Khosla and marks a significant move in the venture capital landscape.

via Forbes|

#business-venture-capital #founders-fund #keith-rabois

businessfinance2 years ago•0 min saved

"Keith Rabois Rejoins Khosla Ventures from Founders Fund"

Keith Rabois, a general partner at Founders Fund, will be leaving the firm to join Khosla Ventures as a managing director, marking a significant move in the venture capital world. His departure represents a loss for Founders Fund and a gain for Khosla Ventures, which recently raised $3.1 billion in new funds and is known for its early backing of OpenAI.

via The Information|

#businessfinance #founders-fund #keith-rabois

business3 years ago•1 min saved

Peter Thiel's $50M Personal Account at Silicon Valley Bank Raises Questions Amid Collapse

Venture capitalist Peter Thiel left $50 million of his own money in Silicon Valley Bank, even as his company, Founders Fund, pulled out all its money from the bank a day before it disclosed a $1.8 billion loss on its bondholdings. Thiel's decision to leave his money in the bank caused a panic that led to the bank's abrupt shutdown by the California Department of Financial Protection and Innovation. However, Thiel maintained that he left his money in the bank because he was certain it would not fail. The Federal Reserve intervened on Sunday, protecting depositors, including Thiel.

via New York Post |

#banking-crisis #business #federal-intervention

finance3 years ago•2 min saved

Peter Thiel Reveals $50M Investment in Collapsed Silicon Valley Bank

Billionaire Peter Thiel has revealed that he had $50m of his own money "stuck" in Silicon Valley Bank when it collapsed last week. Thiel's Founders Fund was advising companies to move their money from the bank, a decision that has been widely blamed for precipitating its failure. Thiel said he believed the bank would not fail. The US government quickly moved to guarantee that all of Silicon Valley Bank's depositors would get their money, including Thiel.

via The Guardian|

#bank-failure #finance #founders-fund

finance3 years ago•2 min saved

Peter Thiel Claims $50M Stuck in SVB Collapse

Billionaire investor Peter Thiel had $50 million of his own money in Silicon Valley Bank when it was seized by regulators last week, despite his own venture fund, Founders Fund, warning that the bank could be in trouble. The bank, which catered heavily to the venture capital community, was shut down by California regulators and taken over by the FDIC on March 10 as depositors scrambled to pull their money out. The vast majority of the bank's deposits were above the $250,000 threshold insured by the FDIC, so panicked customers rushed to pull their funds over fears that they would be lost.

via Fox Business|

#bank-collapse #fdic #finance

finance3 years ago•1 min saved

Peter Thiel's Personal Fortune Stuck in Silicon Valley Bank Collapse

Despite advising his clients to pull their cash from Silicon Valley Bank last week, billionaire tech mogul Peter Thiel said he had $50 million of his own money tied up in the doomed bank when it collapsed on Friday. Thiel has been widely accused of adding momentum to the bank run that triggered Silicon Valley Bank's implosion. However, Thiel told the Financial Times that he did not believe the SVB would fail last week. On Sunday, the US government announced that all depositors of SVB would be able to access their money.

via Yahoo Finance|

#bank-run #depositors #finance