Peter Thiel to Chicago: 'Very talented' folks head to coasts

Thiel ignores his own advice on contrarian thinking.. It seems likely that tech entrepreneurship will democratize across other cities because the customers are there, lots of talent exists in other cities/universities and the Bay Area is too expensive for 30 something techies starting families.

The alternative is that Sv salaries rise exponentially in lockstep with real property values. Or we get a some kind of disconnect between rents and property values.

"First rate people" can work wherever they like. Thiel is going to learn this lesson the hard way.

Real innovators don't care about "scenes", "networks", or being featured in Vanity Fair.

They just need good labs and the resources to work - both of which are easy to find outside SF and NYC.

Thiel invests all over the world and makes plenty of investments in European companies and US companies not in those markets, reporter trying to make a non story into something

It would be helpful to see a transcription of the speech. It's more likely this was said to lead into a point that it shouldn't be that way.