Where are you getting this from? He says nothing of the sort; simply that women and poor people have destroyed capitalist democracy, by attaining the right to vote.
There are a great many on HN who rush to Theil's defense, who seem unfamiliar with his very public, very outspoken politics. He's also said that "I no longer believe that freedom and democracy are compatible."
His solution to the fact that democracies may disagree with him is to weaken and destroy democracy.