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Providing for the lawsuits to be based on credible grounds, then absolutely yes. We want strong law enforcement based on appropriate use of force and judges that can intelligently apply discretion. With humans that is about as much as you can hope for. There exists grey areas but policemen who decide to strike by not intervening when they could prevent violence are not the right of people we needed in the first instance. In fact that would be a double win because we would be selecting for the police officers with better intuitions.

More's to the point. Let's say I apply for a job early in my career and a hiring manager doesn't give it to me.

Then later in life I'm a billionaire and I want revenge. It becomes known publicly that I want to destroy him and his company so very badly, that I will fund any lawsuit against him or them. I fund lawsuit after lawsuit until the company is destroyed and he is bankrupted and ruined, his family and life in shambles.

Is that okay?

yes. what peter thiel is doing is both OK and commendable