https://www.cato-unbound.org/2009/04/13/peter-thiel/educatio...
A few summary points:
- Did a BA in philosophy at Stanford--an analytic department--in the late 80s.
- As Reaganism was reaching its apex, he became a libertarian.
- The 90s were a period of pessimism. As the Reagan revolution was in retreat, and as conservatives retreated with it, the "smartest" libertarians sought to move beyond it. So he registered the crisis of libertarianism acutely, and went looking for the solution outside politics altogether--hence the rhetoric from early Paypal about creating a "new world currency" that would bring about the "end of monetary sovereignty". The point was to create new forms of being which would be free simply by virtue of being new. (Nothing wrong with that, and Marxists have a term for it: reification.)
- While the crisis of 2009 further confirmed the bankruptcy of the political project of libertarianism, he thought its understanding of the world was still fundamentally true: "Exhibit A is a financial crisis caused by too much debt and leverage, facilitated by a government that insured against all sorts of moral hazards — and we know that the response to this crisis involves way more debt and leverage, and way more government." But here the answer is the same as it was in the 90s: retreat from politics and build "new worlds."
What's remarkable about Theil is that he fully grasps the crisis of bourgeois society, to the point where he says, "Since 1920, the vast increase in welfare beneficiaries and the extension of the franchise to women — two constituencies that are notoriously tough for libertarians — have rendered the notion of 'capitalist democracy' into an oxymoron."
This was widely denounced as both misogynistic and racist, but it wasn't: he is saying that the 1920s was the last time the crisis of bourgeois democracy might be have been resolved. This is pure Reaganite ideology, but like all ideology has a measure of truth. (It's worth noting that the Left agrees in a sense, but sees the failure of the German revolution, which also meant the failure of the October revolution, as the decisive moment.)
He recognizes the fatal contradiction at the heart of bourgeois society. Clearly. For him libertarianism is the answer that bourgeois society forbids itself because it holds itself to the promise of democracy. Each time the capitalist crisis emerges, Theil becomes anti-political, looks for a "new space for freedom," new avenues for the accumulation of capital. Cyberspace, outerspace, seasteading.
Post-2009 we saw Theil flirt with the Reactionary- or Dark-enlightenment, which while more reactionary than he's ever been nonetheless suggested a renewed desire for politics in the depths of the recession.
Theil remains revolutionary in the sense that he can claim to be in the tradition of Rousseau in the same sense Lenin, for example, could. That may be hard to recognize but it's there.
What is most interesting about Theil and Trump is that if you think of Theil as expressing intellectually the bourgeois ideology of the Reagan period (and he's pure late-80s vintage, no doubt), he has just signed on to work in the administration of the man who single-handedly ended the Reagan Coalition.